Once upon a time, in the world of insurance technology, a group of pioneers began their journey. Though Fanavaran officially founded in 2003, the founders had already been working in the field of IT and insurance since 1996-1997. As private insurance companies began to emerge in Iran, the need for advanced IT solutions became more pressing. And so, in 2003, Fanavaran Information Technologists was born.

From 2004-2007, Fanavaran reached its first major milestone: signing contracts with Razi and Karafarin insurance companies. After proving the software efficiency and signing a new contract with Alborz Insurance Company (one of the fourth biggest insurance company in Iran), Fanavaran produced Bonyan® (Core Insurance Solution), its first integrated and comprehensive platform in 2004 and implemented it in Day Insurance company, Novin Insurance Company, Saman Insurance company and so on one after another in upcoming years and embarked on a wide-ranging development project that included significant changes to the software architecture and the creation of new strategic products.

In 2016 and 2017, Fanavaran entered a period of innovation and digital transformation. Fanavaran company launched an API Manager infrastructure to manage the APIs of their comprehensive insurance system and began developing various types of insurance policy issuance and claims registration APIs. This company also implemented new regulations related to third-party liability insurance and made deep structural changes to their life and investment insurance offerings.

In 2018 and 2019, Fanavaran company focused on intelligent operations and launched a new generation of Core Insurance system. Throughout this period, they continued to build on their strengths in data management, workflow optimization, and banking system integration.

All in all, it has been an incredible journey for Fanavaran, one that has taken this company from humble beginning to become one of Iran's leading technology providers in the insurance industry.