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The project on full automation of the Azerbaijan Insurance Company MBASK is completed

October, 19th, 2009, Moscow. A Russian leading developer and integrator FORS Development Centre announced that Azerbaijan insurance company MBASK has run in production the integrated insurance solution INSIS by Fadata. It is the first completed project on automation of the business processes of the insurance company on the territory of Azerbaijan. The overall contract cost exceeds half a million US dollars. The project has been carried out with the organizational and financial support of the European Bank of Reconstruction and Development, which is one of the largest shareholders of the company.

The aim of the project was to implement a modern insurance business automation system based on the best world practices.

FORS has acquired the right to implement the project in a closed competition, which took place in the end of 2006. INSIS has been recognised as the most suitable solution in terms of functionality, flexibility and architecture that fully corresponds to the customers’ requirements and their business development prospects.

"We needed a contemporary IT solution for achievement of our strategic business goals- increasing of the competitiveness of the company and further strengthening of our leading position on the Azerbaijan insurance market. We are very pleased with our choice of INSIS – being one of the best in breed solutions for insurance business automation." - points out Mr. Tarhan Shamhalov, IT Director, MBASK.

INSIS has allowed MBASK to automate not only the business processes, but also business logic for all insurance products developed in the company, including individual, collective and life insurance contracts. Also automatic has become the transaction processing for premiums, commissions, benefits and reinsurance. It became possible to carry out operational analysis of the effectiveness of the company MBASK, its divisions and regional branches, to achieve lower production costs and increased profitability.

About FORS Development Centre

FORS Development Centre is one of the biggest Russian developers of the large IT systems. FORS possesses the highest partnership status of the Oracle Certified Advantage Partner and acts as its official distributor (Oracle Value Added Distributor). The company is certificated for the implementing of the Oracle Business Applications - Oracle E-Business Suite and Oracle JD Edwards EnterpriseOne. FORS holds the status of Oracle JD Edwards EnterpriseOne Certified Distributor and Oracle Primavera Certified Partner. Since 2004 FORS is a Casewise distributor on the territory of Russia.

FORS offers a full range of IT services, including research, development and implementation of the both out-of-the box and tailored solutions for all segments of the market; renders consulting services in the fields of business and IT. Since 1994 FORS is an Oracle Training and Consultancy Centre for all Oracle products. FORS Partner Network includes more than 300 companies in total.

FORS is the Competence Centre on four directions: "Oracle Fusion Middleware: Business Intelligence and Data Warehousing", "Oracle: SOA/BPM", "Oracle Fusion Middleware: Enterprise Content Management" and "Oracle: Security".www.fdc.ru