Fadata commits to a highly flexible solution with INSIS enhancements

These enhancements will enable insurers to seamlessly scale and rapidly deploy products across borders.

One of the most notable enhancements is the introduction of multi-tenancy support. Insurers can now run multiple instances of INSIS on a single cloud environment, with separate databases for each tenant. This reduces upfront infrastructure costs and boosts growth by making it easier to scale across borders and roll out products for different lines of business.

Fadata has also made it easier to update and add business features to INSIS with zero disruption. New features are introduced through individual module drop releases, which can be deployed to the running system without impacting the entire application. This is thanks to containerisation within the modular architecture, which allows adjustments or upgrades to be performed in minutes.

The latest release of INSIS also includes several other enhancements, such as:

• Reinsurance automation: Advanced features such as currency fluctuation management, improved index clauses, and efficient claim aggregation are now enabled.
• Unit Linked module functionality: Fadata has bolstered the Unit Linked module by addressing two crucial aspects: cost of insurance dynamic calculations and request execution order storage.

Rasmus Lynge, chief product & technology officer at Fadata, commented: “We continuously develop INSIS, providing our clients with an ever-current solution that enables them to focus on their business and plan for the future.

“Providing the ability to replicate product to support growth underlines our commitment to a highly flexible solution that delivers an abundance of benefits for insurers. Thanks to the decades of experience fuelling our understanding of the industry, we are proud to say that our clients feel truly confident that we will guide and support them through their digital endeavours.”

The enhancements to INSIS are a significant development for the insurance industry. By making it easier for insurers to scale and deploy products across borders, Fadata is helping them grow their businesses and meet customers’ needs in new markets.