For the last 30 years Fadata demonstrated the vision to provide insurers around the world with technology solutions, powered by latest innovation trends. Our focus has always been on the development of high-quality product aligned with the recent market dynamics and client requirements. Now, in September 2020 Fadata is proud to announce the next generation INSIS Cognitive insurance platform powered by ML Automation.
This release is not the typical INSIS version upgrade, part of our regular system enhancement schedule. It marks a conceptual change - the beginning of our journey to revolutionize the INSIS platform and to bring more business value to all our customers and partners.
Fadata recognized the significance of artificial intelligence automation even before the hype and invested significant R&D efforts since 2018 to fuse this cutting-edge technology in its award-winning Insurance suite, INSIS. Now, in 2020 the company is “unleashing” the power of Artificial Intelligence and Machine Learning INSIS Framework – a feat in development for the last two years.
Our philosophy is to perfect ourselves and our solutions, not only as a business concept but also as the ecosystem partner of choice for insurance companies around the world. Such notions reflect the dynamism of the current times where customer centricity and fast time-to-market influence the decision-makers in the field of Insurance.
“We understand that being close to the customer is the way forward for Insurance”, said Silvia Koleva, Chief Product Officer of Fadata. Fundamentally, this has been at the core of INSIS – how to bring more business value to both its customer and partners. Thus, INSIS Cognitive Insurance platform is providing optimized and accelerated core business processes, improve customer engagement through INSIS digital channels and cloud services to boost optimization though extensive API richness for the promotion of quick plug-in partner ecosystem.
More about the Release
The Sept 30th INSIS Release includes the following pivotal new features. First, the INSIS Machine Learning Framework is developed to allow the automation of machine learning methods to minimize core insurance business problems and introduce the INSIS ML offerings, all of which integrate with INSIS Policy Administration System but also available as a standalone, out-of-the-box solutions. Second, Security Microservices Component is to be the first of INSIS microservices components to promote architectural modernization through the expansion of the level of flexibility and access to new business models. Finally, INSIS Digital Channels has been developed with digital engagement at the center of its conceptualization – with the latest version, Fadata is releasing INSIS Portals for Term Life Agent Portal – Quote & Buy, Term Life Customer Portal – Quote & Buy and Motor FNOL, as well as the new ICE 2.0 framework that allows configuring digital journeys & flows in record time.
As part of the INSIS Roadmap, the Q4 2020 release will bring additional INSIS microservices in Claims handling along with the foundation of the new API framework.
Written by Fadata Group
Fadata Group is a leading provider of software solutions for insurance companies. It helps insurers stay competitive in the digital economy by implementing the processes needed to connect faster and more effectively with their customers and distribution partners.