Fanavaran Ittelaat Khabrehkaar

Core insurance platform serving 80% of Iran's insurance market

Core Administration Established Bootstrapped

Overview

Fanavaran Ittelaat Khabrehkaar (operating as IranEIT) is a core insurance administration platform provider for insurance carriers in Iran. The company builds and maintains Bonyan, a comprehensive policy and operations management system that handles the full policy lifecycle -- from underwriting and policy issuance through endorsements, claims processing, financial management, and reinsurance administration.

The Bonyan platform is delivered as a hybrid on-premise and cloud-capable system and integrates with banks, healthcare providers, and third-party systems via open REST APIs. Ancillary products include the Pooyan/Poyesh business intelligence suite for insurance data analytics, the Maad electronic health referral system, and dedicated bank-insurance integration tools. The company also operates reinsurance exchange platforms facilitating cedant-reinsurer transactions within the Iranian market.

Founded in 2003, Fanavaran has become the dominant core systems vendor in the Iranian insurance industry, with 21 documented customer relationships representing approximately 80% of Iran's active insurance companies. The company employs 450 or more specialized staff and reports annual revenue of approximately USD 25.3M. It operates as a privately held entity without external venture or institutional investment.

Products & Services

Bonyan Core Insurance Management System

Bonyan is Fanavaran's flagship core insurance platform, serving as the central operational system for insurance carriers. It integrates all major operational areas into a single unified platform.

Key Features

Policy management and full lifecycle administration
Underwriting and risk assessment workflows
Claims processing and adjudication
Policy endorsement and modification handling
Financial management and accounting integration
Reinsurance administration and exchange support

Target Users: Insurance carriers and companies operating in the Iranian market

Pooyan/Poyesh Business Intelligence Suite

Advanced analytics and reporting tools designed for insurance-specific data analysis and management decision support.

Key Features

Insurance portfolio analytics and reporting
Actuarial and operational data visualization
Performance dashboards for carrier management

Target Users: Insurance company management and actuarial teams

Maad Electronic Treatment Referral System

Digital health and medical referral platform supporting insurance-related healthcare coordination and benefit administration.

Key Features

Electronic medical referral workflows
Integration with health insurance policy systems
Digital documentation and tracking

Target Users: Health and life insurance carriers

Bank-Insurance Integration Solutions

Specialized integration tools enabling coordination between banking institutions and insurance companies.

Key Features

Joint product and policy management
Cross-institution data exchange
Bancassurance workflow support

Target Users: Banks with insurance partnerships and bancassurance programs

Reinsurance Exchange Platform

Digital tools facilitating reinsurance transactions and market participation for Iranian insurers.

Key Features

Cedant-reinsurer transaction management
Reinsurance accounting and settlement
Market participation and placement tools

Target Users: Insurance carriers with reinsurance programs and ceded risk portfolios

At a Glance

Founded: 2003
Headquarters: Tehran, Iran
Employees: 201-500
Funding: Bootstrapped

Category & Focus

Category: Core Administration
Subcategories: Policy Administration Claims Management Underwriting Workbench Reinsurance Technology
Insurance Verticals: P&C Personal P&C Commercial Life & Annuity
Target Customers: Carriers