LONDON, October 3 /PRNewswire/ --    FIS Software Ltd., a leading global provider of package-based software
solutions for life and pensions companies, is delighted to announce the
successful implementation of ALIS, its class leading policy administration
system at Rosgosstrakh in Russia. The implementation went into production in
July 2008 and ALIS is now operating live in all 65 regional sales offices
across Russia.

Background

At the beginning of 2007, Rosgosstrakh, the leading insurance company in
Russia with over 30 million policies, awarded FIS Software a multi-year,
multi-million dollar contract for the implementation of ALIS as its new
Policy Administration System covering the entire portfolio of Life Insurance,
Health Insurance, Personal Accident Insurance, Investments and Pensions for
both individual and group business. Rosgosstrakh's business operations
encompass a vast geographical area, from Kaliningrad in the west to Kamchatka
in the far east, covering 11 time zones.

The Russian insurance industry is sharply increasing sales in the midst
of a growing economy and increasing household disposable incomes. As the life
insurance business grows ever more dynamic it demands appropriate automated
facilities to stimulate active growth. The customer base in Russia
benefitting from the indisputable advantages of conventional life insurance
is expected to grow every year. Therefore Rosgosstrakh needs to be ready with
the capability to process a huge amount of information and supply a high
quality service.

Solution Benefits

ALIS, which manages the complete policy lifecycle, will enable
Rosgosstrakh to reach its strategic business goals through the rapid launch
of new insurance products in response to developing market opportunities.
ALIS will also allow Rosgosstrakh to process its business efficiently and
effectively, delivering improved customer service and increasing client
satisfaction. ALIS provides full support for all policy processing, including
automatic and manual underwriting and automatic allocation of payments. It
enables claim, survival benefit processing and automatic accrual and
maintenance of agent commission. ALIS maintains accounting in accordance with
the Russian Accounting Standards.

The primary advantage of ALIS to Rosgosstrakh is its flexible Product
Management module allowing Rosgosstrakh to respond promptly to changes in
market needs and configure products at its own discretion. For salespeople
the system offers a user-friendly web-interface enabling agents to calculate
quotes and enter policy applications around the country and the world via the
internet.

Project Director Renat Konurbaev says: "The ALIS implementation has been
quite a challenging project in Rosgosstrakh. The project team have gone a
long thorny way. This may be one of the most challenging projects in the
industry. However the result is worth the effort and contribution of all
concerned: the implemented software has not merely laid the foundation for
the long-term life business development but also introduced new engineering
solutions and advanced business development methods in the Rosgosstrakh group
of companies."

Project Manager Svetlana Zakharova notes that "The essentials of this
successful implementation first of all included absolute support of
management, and that of our professional and committed customers, who fully
participated in the project from the very beginning, and encouraged and
believed in the successful outcome."

FIS Software Ltd. Business Development Director Nigel Gardner says: "We
have successfully adapted ALIS to the insurance legislation and requirements
of the Federal Insurance Supervision Service and fully Russified the product.
We believe that Russian insurers will appreciate our time-tested business
approach."

"FIS is very pleased to be working with Rosgosstrakh on this new and
exciting long term relationship" said Shay Alon, FIS CEO. "Entering the
emerging Russian Insurance market is another strategic milestone for FIS and
the deal further endorses FIS' growth strategy in the European market. The
insurance market in Russia, as the overall Russian economy grows, presents
new business opportunities and market challenges". Shay Alon adds: "Our goal
is to ensure that ALIS supports Rosgosstrakh's lead in the Russian Insurance
market through growth, sales volume, and customer service through the rapid
launch of new life and pension products."

FIS Software is dedicated to developing and delivering packaged-based
global insurance solutions that enable life insurance, pensions and
investment companies to run their businesses more efficiently, and respond to
territorial legislation and regulations.

Our software solutions are based on ALIS, a single packaged,
parameter-driven platform which manages the entire policy lifecycle of all
life insurance, pensions and investment products, throughout the global
insurance market.

For further information visit http://www.fis-software.com

About "Rosgosstrakh-Life Ltd.:

Insurance company "Rosgosstrakh-Life" (IC "RGS-Life") is dedicated to
life insurance, voluntary pension insurance, health and accident insurance
(License No. 398477 of 11.11.2005).

IC "RGS-Life" is a part of "Rosgosstrakh" Group of Companies - Russia's
leading insurance group.

After the first half year 2008 IC "Rosgosstrakh-Life" ranks fourth
against 2007 when it ranked seventh. According to the official statistics,
within the first half year 2008 "Rosgosstrakh-Life" collected RUR 545 million
for life insurance. The market share increased from 1.6% (the first half year
2007) up to 6.2% (the first half year 2008).

IC "RGS-Life" business is based on the main Rosgosstrakh infrastructure:
about 3000 agencies, insurance departments, claims processing centers and
offices.

IC "RGS-Life" is a modern dynamically developing company. Its insurance
technologies meet global insurance business development trends.

http://www.rgslife.ru

Contact Details for FIS

    Graham Newman,
    Global Marketing Director,
    +44(0)7816-857279,
    gnewman@fis-software.com