MBASK Company to Computerise Business

Azerbaijan, Baku / Trend corr U. Ismaylova / Director General of the MBASK Insurance Company, Jamil Malikov, reported that the company had signed a contract with FORS-Development Centre to computerise its business. The cost of the contract has exceeded $500,000 and the system will be put into operation next year.

Supply and introduction of specialized ПО INSIS, which has been developed for insurance companies by Bulgarian FADATA company, is provided within the contract and the solution is based on Oracle technology.

FORS-Development Centre will offer consultation services on pre-project examination of business processes, adapting of program products to the needs of clients as well as services on technical accompaniment and the teaching of clients.

FORS-Development Centre has been issued a license to implement the work as a result of a closed tender held at the end of 2006. Due to its functional opportunities, flexibility and structure, INSIS totally meets the demands of the client with a strategy to develop the client's business. The project will be implemented with the organizational and financial assistance of the European Bank for Reconstruction and Development.

Prior to the commencement of the project, MBASK had used only office automation facilities which resulted in the company being incapable of providing necessary levels of transparency in the company's activities and its management system. All business processes of a client, including the development of insurance agreements, insurance premiums, insurance policy, and others will be automated.

FORS has been maintaining its partnership with FADATA since September 2006. This project will be its first large-scale introduction into CIS countries.

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