Digital Insurance Agenda

Fadata: Transforming Insurance with Artificial Intelligence

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on Jul 10, 2019

Fadatas purpose is to help insurers contribute successfully to the security and well-being of their customers. They provide the capabilities needed primarily through INSIS, the most advanced and comprehensive insurance process platform available across all major lines of business. This helps sustain innovation, engage customers effectively and stay competitive in a rapidly changing world.

From its origins in 1990, Fadata Group has evolved to become a major provider of software solutions to insurers across four regions. Over 60 insurer businesses across Europe, the Middle East, Africa and Latin America now use their solutions, including their process platform, INSIS, recognized by analysts at Gartner and Celent as a leading industry platform.

Their latest development, INSIS Cognitive Assistant, is an automated conversational customer assistance tool, part of INSIS v10 Platform. Currently, it supports claim processing automation, quote recommendation, and customer retention capabilities. Legacy insurance processes are augmented by intelligent messaging and IVR (interactive voice response) through digital assistants (e.g. Google Assistant), smart devices (e.g. Google Home), social messaging apps (e.g. Facebook Messenger, Viber), and telephony gateways.

Key Benefits:

  • Improve Customer Experience
    Automatically process customer requests smarter and faster than ever, 24/7, via voice and messaging channels such as Facebook Messenger, Viber, Google Assistant, telephony gateways or a smart device like Google Home
  • Automate Claims Processing
    Machine Learning models handle claim requests, analyze structured and unstructured claim data, evaluate damage, detect fraud, flag unnecessary repairs and leakage, bring accuracy, consistency, and objectivity to every claim, and thus automate assessment so claims can be settled faster
  • Low Cost and Low Risk Implementation
  • Prototype in 3-6 months. Available as a plug and play add-on, that can integrate with existing systems, allowing to improve customer service dramatically without committing to a costly system upgrade.

How it works  

Why we selected Fadata for DIA Amsterdam

They are transforming manual and paper-based insurance processes towards cognitive automation and AI-powered processes.
At DIA Amsterdam they demonstrated INSIS Cognitive Assistant.

Who is Fadata?
Fadata Group is a leading provider of software solutions for insurance companies worldwide.

Fadata is headquartered in Munich and has offices throughout Europe, including a software development and operations centre in Sofia. It also has an extensive international distribution and implementation partner network that includes BearingPoint, Charles Taylor InsureTech, EVRY, EY, Infosys, OpenFactor, Sollers and Tieto.

In 2017, Fadata acquired Impeo, broadening its insurance front-office capabilities. Fadata’s shareholders include The Riverside Company, a global private equity firm, and Charles Taylor plc., the London-based global provider of insurance services.

“Our purpose is to help insurers contribute successfully to the security and well-being of their customers. We provide the capabilities needed primarily through INSIS, the most advanced and comprehensive insurance process platform available across all major lines of business. This helps you sustain innovation, engage customers effectively and stay competitive in a rapidly changing world”, Liselotte Munk, CEO, Fadata Group

Liselotte Munk, CEO, Fadata Group

https://www.fadata.eu/

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