Fanavaran (aka Iran EIT) with over two decades of experience in developing, implementing, and supporting insurance software solutions, manages and processes more than 60% of the insurance industry's portfolio in Iran. Trusted by 80% of the country's insurance companies, Fanavaran stands as the largest insurance platform in Iran. Our flagship product is a core insurance system known as "Bonyan" which plays a pivotal role in addressing the software needs of insurance companies. Today, with a team of over 450 experts, Fanavaran is committed to driving digital transformation in the insurance industry and enhancing services to Iranian people.
Fanavaran invites enthusiastic individuals to join its teams for the development and maintenance of its software projects. If you are eager to work in a professional and dynamic environment and wish to embark on this journey with us, please carefully review the collaboration requirements and submit your resume.
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Trusted by 21 insurance companies
Ranked 0st
By the Supreme Council of Information and Communication Technology of Iran
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API service calls processed monthly
+0million
Claims handled annually on average
+0million
Insurance policies issued annually on average
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Active users of the Bonyan Core Insurance Platform
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Experts
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Market share in Iran's insurance industry
+0million
Policyholders served
History
Once upon a time in the world of insurance information technology, a group of pioneers embarked on their journey. Although Fanavaran was officially established in 2003, its founders had already been active in the fields of information technology and insurance. With the emergence of private insurance companies in Iran, the need for advanced IT solutions grew. Thus, in 2003, Fanavaran was born and reached its first major milestone: signing contracts with Razi and Karafarin insurance companies.
From 2004 to 2007, Fanavaran, after proving the efficiency of its software, signed implementation and support contracts with Alborz Insurance (one of the four largest insurance companies in Iran), Dey Insurance, Novin Insurance, Saman Insurance, Moallem Insurance, and Mihan Insurance. The number of employees, which was 5 at the time of establishment, had now reached 24.
In 2008, the Core Insurance Platform was installed and launched at Asia Insurance, and by 2011, the .NET-based Core Insurance Platform was deployed in all contracted insurance companies. During this period, Sina Insurance, Kosar Insurance, Atieh Sazan Hafez, Bimeh Ma, and Arman Insurance joined Fanavaran’s client portfolio.
Over time, Fanavaran expanded its product portfolio and made significant changes to its software architecture. In 2016 and 2017, the company entered the era of digital transformation. By this time, the number of employees had reached 234. The API Manager infrastructure was launched to manage the APIs of the Core Insurance System, and the development of various APIs for policy issuance and claims registration began. During this period, Fanavaran continued to strengthen its capabilities in data management, workflow creation, and integration with the banking network.
From its humble beginnings with just 5 employees to today, with over 400 experts driving the company's projects, Fanavaran has had a unique journey—one that has established it as one of the leading technology providers in Iran's insurance industry.
Vision
In its five-year horizon, Fanavaran aims to become an exceptional and agile company, leading and influencing the provision of core insurance solutions and IT strategies in Iran's insurance industry. With its technical expertise and competitive products aligned with global standards, Fanavaran will secure a strong position in the insurance markets of regional countries. Additionally, Fanavaran's open insurance platform will serve as the foundation for the development of digital insurance in Iran.
Organizational Missions
- Leveraging technical expertise and global standards in the field of information technology.
- Delivering cutting-edge products in the field of insurance operations.
- Providing the necessary infrastructure for the implementation of digital insurance.
- Offering high-quality services in the development and support of insurance software for Iran's insurance industry.
- Commitment and precision in implementing information security standards and policies. (To view the full text of the Information Security Policy Statement, please refer to the resources.)
Mr. Majid Khakvar
Co-founder & CEO
Chief Executive Officer and Vice Chairman of the Board
Mr. Yousef Ghalati
Co-founder & CPO
Chief Product Officer and Chairman of the Board
Mr. Ghorban Mohammady
Co-founder & CTO
Chief Technology Officer and Member of the Board
Mr. Mahdi Imanimehr
Deputy CEO & CRM
Deputy CEO and Vice President for Customer Relationship Development
Nearly two decades have passed since the establishment of Fanavaran—a diligent and motivated organization that, alongside a team of professional and expert colleagues, has consistently strived to deliver the best solutions to its customers. Aligning the architecture of our products with the latest global technologies, developing products based on advanced IT methodologies, and simultaneously offering solutions that are 100% Iranian and tailored to the needs of the insurance industry have always been among Fanavaran’s strategic priorities.
In addition to addressing the current needs of customers, Fanavaran has always maintained a vigilant eye on the broader developments in information technology and the rapid changes in the insurance industry’s business landscape. For this reason, meticulously following the development processes of insurance software solutions from leading global companies, in order to meet the ever-expanding needs of this industry, has been one of the company’s core strategies.
Adherence to professional ethics and a focus on human values are among Fanavaran’s most prominent characteristics. We have always sought to prioritize not only the technical and professional capabilities of our team but also the principles, conduct, and professional ethics that guide our activities. We believe that success is achieved only through reliance on God, relentless effort, and tireless perseverance. It is this belief that has shaped Fanavaran’s growth, maturity, and continued progress, and we remain steadfast in pursuing this path.
To date, we have achieved significant successes, and although over 80% of the country’s insurance companies utilize our comprehensive insurance solutions, we have never been content with the status quo or satisfied with the results attained. Therefore, we never grow complacent, as we know there is still a long journey ahead. We view success as a continuous forward movement and will define it through our actions.
If we are pioneers in the field of information technology within the country’s insurance industry, we firmly believe that beyond Iran’s borders, we also have much to contribute, showcasing the capabilities and potential of Iran and its people.
Here’s to greater successes for our beloved Iran and its proud people.
Majid Khakvar
Chief Executive Officer and Vice Chairman of the Board
Moments with our team
