Fadata, a leading provider of advanced insurance technology solutions, partners with system technology integrator EVRY to help support demand growth for implementation of its INSIS product in the Nordic region; Norwegian insurer Frende Forsikring will be the first customer of this partnership. INSIS is an industry leading, advanced modular insurance software package, which is used by insurance companies worldwide across General, Health and Life insurance.
Since its acquisition by the Riverside Company and Charles Taylor Plc, Fadata has been expanding its international footprint rapidly, having recently opened a new Headquarters in London, and announced the establishment of its Stockholm office last month.
Frende Forsikring, one of the most rapidly growing insurance groups in Norway, has chosen INSIS for its functionality, flexibility, and rapid implementation capability.
Vegar Styve, CEO, Frende Forsikring, Norway: “After an extensive tender process, evaluating 10 different solutions, we are confident about our choice for EVRY to take on the role of systems integrator for Fadata’s leading insurance technology platform. INSIS will be our core system across all Group Life and Pension lines of business, and will help us lower operational costs and propel our growth by enabling new distribution channels, enabling superior automation and self-service, and reducing time to market for new innovative products.”
John Macdonald, CEO, Fadata commented: “We are delighted to partner with EVRY and welcome Frende Forsikring as the newest member of the growing INSIS Community in the region. We are seeing an increasing number of insurance firms actively embracing digital transformation in the region, with Nordic insurers setting high priority on accelerating technology innovation. Fadata are determined to become a preferred partner in this journey, offering invaluable expertise to all our present and future customers in the region.”
Kolbjørn Haarr, EVP EVRY Norway says: “The insurance industry is changing rapidly and insurers need to adapt to changing customer behaviour and a tougher competitive environment. EVRY has a dedicated insurance technology vertical that understands the industry's challenges and offers IT solutions that effectively respond to these. We are excited to have a key role to play in this and future implementations and look forward to working closely with Fadata to deliver an excellent outcome for Frende Forsikring.”
INSIS has been ranked a leader in Gartner's Magic Quadrant (December 2015) for the fourth successive year. It has also recently been awarded two consecutive XCelent in Technology awards for its Life and Health systems, by Celent.
Fadata is a leading international provider of software solutions for insurance companies worldwide. Its flagship product, INSIS, has more than 65 implementations globally including customers in the UK, Austria, Sweden, Denmark, Norway, Poland, UAE, Bulgaria, Romania, Ukraine, Russia, Kazakhstan, Azerbaijan, Peru, Columbia, Ethiopia, Turkey, Greece, Slovakia, and Hungary. INSIS has been ranked a leader in Gartner's Magic Quadrant (December 2015) for the fourth successive year. It has also recently been awarded two consecutive XCelent in Technology awards for its Life and Health solutions, by Celent.
With headquarters in London, and a major development and operations center in Sofia, Bulgaria, Fadata’s distribution and partner network spans more than 30 countries, and includes EY, Charles Taylor InsureTech, Oracle and others. In 2015 Fadata was acquired by Riverside Company, a global private equity firm and Charles Taylor plc., a London-based global provider of insurance services.
Frende Forsikring is a leading Norwegian insurer, owned by 15 local savings banks. Headquartered in Bergen, Frende Forsikring have around 175 employees and 175,000 residential and business customers with insurance solutions covering Life and Non-Life policies across the country.
EVRY is one of the leading IT companies in the Nordic region and has a strong local and regional presence in 50 Nordic towns and cities. Through its insight, solutions and technology, EVRY contributes to the development of the information technology society of the future and thereby creates value for the benefit of its customers and for society. EVRY combines in-depth industry knowledge and technical expertise with a local delivery model and international strength. EVRY has some 9,000 employees and the company is committed to demonstrating that Nordic customers are best served by a supplier that understands Nordic business from the inside. EVRY reports annual turnover approaching NOK 13.