Fadata, the global provider of Core Insurance Software, creates a foundation for the AI First Insurance Industry. In addition to leading the fees in creating pathways for insurers to adopt AI, Fadata is also building a sustainable people-first AI culture that empowers its own employees and drives AI innovation quickly within its own business.
Artificial intelligence could transform how insurers operate and fundamentally accelerate innovation in insurance technology. Fadata is ahead of its own AI strategy, collaborates with AI ecosystem partners, establishes high-end AI product roadmap, embedding AI into core business processes, fostering a company-wide mindset shift and supporting long-term success.
“AI is no longer a concept for the future, it's a need for the present.” says Dimitar Navushtanov, Fadata's quality manager and AI director. “Our clients are curious and we look forward to it. I can be very proud to say that they are taking bold steps to become the leader in AI adoption for the innovation of insurance core software. But creating an AI-friendly business is not just about tools. It's people, trust, mindset.
Build an exemplary culture of AI inspiration
Like many organizations, an early concern about AI recruitment among veteran staff was that AI could replace roles. Fadata has found these fears rest as more careful colleagues become inspired by the results and benefits achieved by their peers who already embrace and utilize AI. Fadata also tackles these fears head on, and it's a clear and consistent message that AI is here to reinforce it rather than eliminate it.
Fadata focuses on shaping the Inspiration Culture. This gives employees the feeling that learning, experimenting and highly skilled in AI. Send a powerful message that AI is an invaluable resource;
Fadata has ensured that productivity gains (up to 50% for some teams) are not met with the same task. Instead, AI is creating time with Fadata to acquire more interesting and rewarding tasks that contribute to self-development, company evolution and, most importantly, better service to customers.
Navushtanov says: “AI hasn't replaced it. We use AI to amplify our teams and we have gained value from the time AI delivers us all. People who are open to understanding and using AI are incredibly valuable to their enthusiasm and talent. We maintain the tangible benefits of our colleagues as a career and company.
Leadership by example
Cultural change begins at the top. With a strong executive sponsorship, Fadata has established an internal AI steering community to select proven solutions that can add value and measure it. Fadata managers and leaders are active in the discussion of AI to reinforce the company-wide belief that AI is a common advantage and promotes rapid experimentation and iterative learning rather than siloed experiments.
Fadata builds the foundations of AI culture by taking a deliberate approach to knowledge building. I understand that cultural transformation is a slow and stable process. Instead of driving the essential AI tools, the company invites teams to request automation support, build custom solutions, and celebrates early adopters.
“We believe in failing quickly and learning faster because we appreciate that early adoption comes with both challenges and strategic benefits. We all recognize that we are all in AI and are produced by the quality department that quadrupled the volume each year, or the quality department produced by the professional services team now free from Mundane Tasks. Always in front of our minds, all the uses we implement start with the same question. We conclude with Navushtanov.
Fadata's commitment to adopting AI has allowed us to quickly innovate while unleashing experiments. But most importantly, Fadata has navigated changes in the corporate culture that exhibits extremely human characteristics, such as gratitude and compassion, that AI cannot. In doing so, Fadata ensured that their entire company was ready as AI adoption became an industry standard.
