Fadata Establishes Nordic Market Presence to Serve Growing Customer Base


Fadata, a leading provider of advanced insurance technology solutions, is increasing its investment in the Nordic region. Fadata will establish a permenant base in Stockholm, staffed with market leading experts.

Since its acquisition by the Riverside Company and Charles Taylor Plc, Fadata has been expanding its international footprint, recently opening a new headquarters in London. The launch of its Stockholm office is a further commitment by Fadata to service its local customers and partners. Stockholm was chosen as it is a leading center for technology innovation and insurance operations in the region, as well as being the home to existing customers.

Michael Staack has been appointed as Fadata’s Sales Director for the Nordic region. Having spent over 25 years in the FinTech and the insurance markets across the Nordic and Central European regions, Michael comes with a great knowledge of the industry and local customers. He has previously worked for: Keylane Nordic AB, TIA Technology, SAS Institute, CSC and SAP.

“I am honored to be joining Fadata at such an exciting time for the business and the industry,” said Michael Staack, Sales Director Nordics. “Fadata's INSIS product is already established in the Nordic region and has proven to be capable of providing customers with business agility and great flexibility in bringing products to market quickly. We will be building our team out of our Stockholm office in the coming months, and have plans to recruit insurance industry experts and technical staff to provide our customers with the services they need, immediatly and locally. Fadata has an extensive partner network who we will be working closely with to deliver customers with the best insurance technology solutions.”

John Macdonald, CEO of Fadata added,“We are delighted to have Michael lead our regional business expansion, based in our new Stockholm office. The insurance industry is aggressively adopting leading-edge technology across the region, with increasing demand from insurers to replace legacy systems, invest in agile solutions which support their business objectives, and to capitalize on the potential to use customer analytics extensively in their businesses. Michael’s deep understanding of what the market needs will help our customers benefit from Fadata’s expertise and technology.”

Fadata is one of the few organizations to offer advanced solutions for Life, General, and Health insurance. INSIS has been ranked a leader in Gartner's Magic Quadrant (December 2015) for the fourth successive year. It has also recently been awarded two consecutive XCelent in Technology awards for its Life and Health systems, by Celent.


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Notes to editors

About Fadata EOOD

Established in 1990, Fadata is a leading international provider of software solutions for insurance companies worldwide. Its flagship product, INSIS, has more than 65 implementations globally including customers in the UK, Austria, Sweden, Denmark, Poland, UAE, Bulgaria, Romania, Ukraine, Russia, Kazakhstan, Azerbaijan, Peru, Columbia, Ethiopia, Turkey, Greece, Slovakia, and Hungary.

With headquarters in London, and a major development and operations center in Sofia, Bulgaria, Fadata’s distribution and partner network spans more than 20 countries, and includes partners such as Ernst & Young, CT InsureTech and Oracle. In 2015 Fadata was acquired by Riverside Company, a global private equity firm and Charles Taylor plc., a London-based global provider of insurance services.