Insurance-specific accounting solution covering policy administration, claims, reinsurance, and financial accounting. Includes general ledger, accounts payable, accounts receivable, and financial reporting with support for multiple accounting standards.
Specialized financial software that handles industry-specific accounting requirements, including premium recognition, loss reserves, and statutory reporting.
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General Ledger Integration Supports a full-featured general ledger tailored for insurance operations. |
Website and documentation state full general ledger tailored for insurance, including for policy, claims, and reinsurance modules. | |
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Accounts Payable Management Handles invoice approvals, payments, and vendor management. |
Stated as covering 'accounts payable' including payments and vendor management in solution overview. | |
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Accounts Receivable Management Tracks premiums receivable and manages collections. |
'Accounts receivable' management called out as a core module. | |
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Multi-entity Accounting Supports consolidation and accounting across multiple companies or branches. |
Fadata promotes support for multi-company, multi-branch group accounting (multi-entity) on product site. | |
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Chart of Accounts Customization Ability to configure chart of accounts to meet insurance industry requirements. |
Documentation indicates configurable chart of accounts for insurance-specific requirements. | |
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Bank Reconciliation Automation Automates matching of system transactions with bank statements. |
Automated bank reconciliation specifically highlighted within product documentation as standard functionality. | |
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Period Close Automation Automates closing accounting periods with built-in validations. |
Period close automation with validations covered in financial management module description. | |
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Dimension Support Allows accounting segmentation by business lines, product type, or other insurance-specific dimensions. |
Segmentation by business unit/entity/product supported – documentation references 'multi-dimensional reporting'. | |
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Inter-company Eliminations Automates elimination entries for inter-company transactions. |
. | No information available |
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Audit Trail Maintains a complete, uneditable log of transactions and changes. |
'Full audit trail' is a listed compliance feature for all financial transactions. | |
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Batch Processing Speed Speed at which the system processes large accounting batches. |
No information available | |
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Concurrent User Support Number of simultaneous users supported. |
No information available |
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Automated Premium Recognition Supports earnings schedules, unearned premium reserves, and handles multi-period recognition. |
Premium earnings schedules and unearned premium reserves are core functionality according to product overview. | |
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Policy Billing Integration Interconnects with policy administration for accurate and timely billing. |
Website and datasheets describe integration between the financial module and policy admin for billing processes. | |
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Installment Billing Management Enables the setup and management of premium payment installments. |
Installment billing management identified as supported for multi-period premium collection. | |
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Multi-currency Premium Handling Handles premium recognition in multiple currencies and exchange rate updates. |
Multi-currency premium processing and FX handling are listed in documentation. | |
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Premium Adjustment Automation Adjusts for endorsements, cancellations, and mid-term changes. |
System supports automated premium adjustments – specifically references policy amendments, endorsements, cancellations. | |
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Aging Reports Automated generation of aged premium receivables. |
Aging reporting of premium receivables is a standard report included according to sample financial reports. | |
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Policy Linkage Capacity Maximum number of active policies directly linked to accounting records. |
No information available | |
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Premium Recognition Speed Number of policies for which premium recognition can be processed per hour. |
No information available | |
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Negative Premium Handling Supports reversal and refund of premiums. |
Negative and reversal premium handling (cancellation and refund workflows) shown in use-case documentation. | |
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Deferred Acquisition Cost Automation Calculates and tracks deferred acquisition costs related to premiums. |
Deferred Acquisition Cost is a modeled financial class within core accounting (D&A costs called out in feature list). |
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Loss Reserve Calculation Automated calculation and posting of case and IBNR (incurred but not reported) reserves. |
Loss reserve calculations (case and IBNR) are handled with automation in claims accounting, per Fadata resources. | |
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Claims Payment Management Processes claims payments and tracks outstanding claims. |
System processes claims payments and tracks open and paid claims – claims payment is a process step in workflows. | |
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Automated Claims Accruals Accruals for pending claims based on customizable rules. |
No information available | |
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Salvage & Subrogation Handling Tracks and accounts for recoveries and reinsurance claims. |
Recoveries, salvage, and subrogation are covered in product documentation as standard processes. | |
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Claims Aging Reports Generates real-time aging analysis of claims payables. |
No information available | |
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Reserve Movement Audit Trail Maintains a history of all reserve adjustments with audit referencing. |
No information available | |
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Claims Batch Processing Speed Number of claims processed for accounting entries per hour. |
No information available | |
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Reserve Adjustment Approval Workflow Enforces approval processes for reserve changes. |
No information available | |
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Claims Data Integration Imports claims data from administration systems automatically. |
Automated claims data import from admin system highlighted in product integration overview. | |
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Liability Roll-forward Reporting Provides roll-forward schedules of net liability balances. |
Liability roll-forward and change analysis reporting is included – described in statutory reporting features. |
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Ceded Reinsurance Processing Accounts for cessions, recoverables, and reinsurance settlements. |
Ceded reinsurance and settlements are listed as supported accounting capabilities for insurers. | |
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Assumed Reinsurance Handling Manages accounting for assumed premiums and claims. |
Assumed reinsurance (premiums and claims) is included in the reinsurance module by Fadata. | |
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Reinsurance Treaty Administration Integrates treaty terms into accounting calculations. |
Treaty admin (capturing treaty terms for calculations) is a function of the reinsurance accounting system. | |
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Automated Retrocession Processing Handles retrocession entries and settlement. |
No information available | |
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Reinsurance Recoverable Aging Tracks and reports on outstanding recoverables. |
No information available | |
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Automated Bordereaux Generation Creates and validates bordereaux reports automatically. |
No information available | |
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Slip and Statement Integration Imports and processes slips and statement-of-accounts. |
Slip and statement processing is described in reinsurance workflows on the website. | |
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Reinsurance Capacity Maximum number of treaties or agreements supported. |
No information available | |
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Reinsurance Reporting Frequency Maximum frequency of automated reporting in a period. |
No information available | |
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Reinsurance Commissions Automation Calculates and records ceding/reinsurance commissions. |
Reinsurance commissions (ceding and reinsurance) calculations are listed in the technical accounting features. |
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Asset Type Flexibility Supports accounting for multiple asset classes (bonds, stocks, real estate, etc.). |
No information available | |
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Investment Valuation Automation Calculates mark-to-market, amortization, and fair value entries automatically. |
No information available | |
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Interest & Dividend Accruals Automates accruals and receipts of investment income. |
No information available | |
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Integration with Custodians/Brokers Imports transactions from bank custodians or brokers. |
No information available | |
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Impairment Analysis Automates identification and posting of impaired securities. |
No information available | |
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Investment Reconciliation Speed Transactions reconciled per minute. |
No information available | |
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Portfolio Diversification Reporting Automated reporting on compliance with investment limits. |
No information available | |
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Trade Settlement Automation Automates posting of trade settlements. |
No information available | |
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Unrealized Gain/Loss Tracking Tracks unrealized gains and losses by asset type. |
No information available | |
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Regulatory Investment Limits Checks investments against jurisdictional limits. |
No information available |
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Automated NAIC Reporting Auto-generates statutory statements as prescribed by NAIC guidelines. |
Automated NAIC (and Solvency II, IFRS) reporting is a stated key feature in the insurance regulatory solution area. | |
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IFRS/GAAP Dual Reporting Supports multi-basis (IFRS, GAAP, local GAAP) parallel reporting. |
System advertises full IFRS/GAAP dual-basis and local basis statutory reporting. | |
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Regulatory Form Library Maintains a prebuilt library of statutory forms for different regulators. |
A 'large library' of statutory forms for multiple regulators is referenced, suggesting extensive regulatory form library. | |
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E-filing Integration Allows for automated submission of filings to regulators. |
No information available | |
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XBRL Reporting Capabilities Produces data in XBRL (eXtensible Business Reporting Language) formats. |
No information available | |
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Threshold-based Alerts Automated alerts for regulatory capital or compliance breaches. |
Alerting for regulatory capital requirements is called out in compliance automation features. | |
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Automated Data Validation Validates all data entries before reporting submission. |
End-to-end validation before regulatory submissions is mentioned in compliance automation. | |
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Filing Cycle Support Maximum supported reporting cycles per year. |
No information available | |
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Audit-ready Data Export Exports supporting data and workpapers for external audits. |
Ability to export supporting data and audit workpapers for statutory audit is part of their described workflow. | |
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Local Regulatory Adjustments Supports country or state-specific statutory modifications. |
Product is marketed for both multinational and local regulatory needs, with country/state specific statutory modifications. |
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API Availability Open APIs for real-time integrations with other modern systems. |
Fadata claims real-time open APIs for integrations. | |
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Native Insurance System Connectors Comes with prebuilt connectors for major insurance core platforms. |
Listed as having native connectors for all INSIS modules and some third-party core platforms. | |
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Data Import/Export Automation Automates regular batch imports and exports. |
Automated data import/export routines part of all core interfaces. | |
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SaaS Platform Support Supports integration with cloud and SaaS-based systems. |
Cloud SaaS integration and deployment support (as well as on-prem) is stated in technical overviews. | |
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Single Sign-on Integration Supports SSO with enterprise authentication providers. |
Supports single sign-on (SSO) for enterprise authentication; covered in platform security documentation. | |
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Integration Throughput Volume of records that can be transmitted per integration run. |
No information available | |
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Real-time Data Sync Enables real-time synchronization of key data entities. |
No information available | |
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Event-driven Integration Support Supports webhook/event subscription for integration triggers. |
No information available | |
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Data Mapping Flexibility Ability to configure and customize data mapping rules. |
Documentation highlights configurable integration points, implying flexible data mapping. | |
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Legacy System Adapter Ease of connecting to legacy mainframe-based platforms. |
Legacy system integration and adapters referenced for mainframe and old policy admin systems. |
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Role-based Access Controls Ability to restrict user permissions by job role. |
Role-based permissioning is a standard feature under the security/compliance section. | |
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Data Encryption at Rest All data stored on disk is securely encrypted. |
Encryption at rest is noted as required for all hosted insurance data in technical security documentation. | |
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Data Encryption in Transit Ensures all data transmission is encrypted (e.g., TLS). |
Encryption for data in transit (TLS) mentioned in product security overview. | |
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Audit Logging Comprehensive tracking of access and usage of sensitive features. |
Comprehensive audit logging for access and sensitive actions is called out as a compliance necessity. | |
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Multi-factor Authentication Requires at least one additional verification method for login. |
Multi-factor authentication supported for admin and user logins – typical for enterprise insurance services. | |
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SOC/ISO Certification Attestation for SOC2, ISO27001 or comparable audits. |
No information available | |
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Automated User Deactivation Immediately disables users who terminate or violate policies. |
Automated user deactivation on offboarding is referenced in compliance and operational controls. | |
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Segregation of Duties Support Prevents conflicts of interest by controlling process access. |
Segregation of duties is enforced in approval workflows, as per insurance audit/support documentation. | |
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Data Retention Configuration Customizable data retention and purge policies. |
Fadata platform supports configurable data retention and purge policies, detailed in system controls. | |
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Compliance Alerting Automated alerts for unusual access or regulatory non-compliance. |
No information available |
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Customizable Dashboards Dashboards can be configured by user or role. |
User or role-level customizable dashboards shown as a modern platform feature. | |
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Advanced Search Functionality Robust and fast search capabilities across all records. |
Documentation mentions advanced global search across all financial, claims, and policy data. | |
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Mobile Access Functional access across tablets and phones. |
Mobile-responsive access is designed into the web interface according to platform details. | |
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Context-sensitive Help Built-in help and support tied to each screen. |
No information available | |
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In-app Notifications Real-time messaging and task reminders within the app. |
No information available | |
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Keyboard Shortcuts Supports quick navigation using keyboard shortcuts. |
No information available | |
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System Average Response Time Average time for page or action to load. |
No information available | |
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Bulk Transaction Entry Ability to enter or update multiple transactions at once. |
Bulk and batch transaction entry supported for large insurance operations; referenced in usability section. | |
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Accessibility Standards Compliance with WCAG or other accessibility standards. |
No information available | |
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Localization/Language Support Supports multiple languages for global users. |
No information available |
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Custom Report Builder Users can define and customize report layouts and fields. |
System includes custom report building tools for financial and insurance reporting. | |
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Ad hoc Query Capability Allows real-time questions on all available data. |
Supports ad hoc queries per documentation for finance teams. | |
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Embedded Analytics Dashboards Interactive and visual dashboards for performance analysis. |
Interactive analytics dashboards are a major usability feature (see reporting module). | |
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Historical Data Analysis Analyzes historical trends and year-over-year data. |
Historical trend and period-over-period reporting listed as included analytics features. | |
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Scheduled Report Distribution Automates sending reports to users at scheduled intervals. |
Automated scheduled report distribution covered in the reporting section. | |
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Drill-down Functionality User can drill from summary reports to underlying details. |
Drill-down from summary to detail in financial and claims reports is described in user feature lists. | |
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Export Formats Supported Variety of downloadable report formats (PDF, Excel, CSV, etc.). |
Download/exports available to PDF, Excel, XML and more according to reports guide. | |
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Concurrent Reporting Users Number of users who can run reports simultaneously. |
No information available | |
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Data Warehouse Integration Supports connection to external data warehouses or BI tools. |
External reporting/BI/data warehouse tools supported as per platform integration description. | |
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KPI & Benchmarking Support Built-in insurance-specific key performance indicators and benchmarking. |
KPI and benchmarking reporting is specifically listed for insurance key performance statistics. |
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Horizontal Scaling Support Capacity to expand system resources by adding servers. |
Horizontal (clustered) scaling described as part of SaaS/cloud deployment capability. | |
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Vertical Scaling Support Ability to increase power/resources of a single server. |
Vertical scaling is available per the system infrastructure support documentation. | |
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Transaction Volume Handling Maximum monthly transaction processing capacity. |
No information available | |
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Annual Data Retention Limit Years of transaction history supported online. |
No information available | |
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Disaster Recovery Time Objective (RTO) Maximum system downtime permitted in disaster recovery. |
No information available | |
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Disaster Recovery Point Objective (RPO) Maximum data loss in the event of a disruption. |
No information available | |
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99.9% Availability SLA Service guarantees for system uptime. |
Claims 99.9% availability SLA for cloud-hosted solutions in technical documentation. | |
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24x7 Support Availability Provides all-day support coverage. |
24x7 support available to enterprise cloud customers, referenced on support page. | |
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Automated System Monitoring Automatically monitors and alerts on system health. |
System health and log monitoring as part of SaaS/hosting support (see platform monitoring). | |
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Multi-tenant Support Ability to serve multiple independent insurance clients from a single instance. |
Multi-tenant SaaS capability referenced for insurance groups running multiple entities from one platform. |
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