Corporate Overview
The MDI Advantage 

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MDI offers three key advantages as a system partner: 
Our Experience

MDI's officers and staff have extensive hands-on experience with all aspects of insurance operations and all major types of insurance products.

Our Size

We are a small, tightly focused company. Each of our clients is different. Each product portfolio, system design, and organizational structure needs a unique solution. We tailor our services, rather than pre-packaging them, so that you get expert guidance in the areas that are of most benefit to you

Our Total Solution

We help you explore new ways to approach business needs to find your most effective alternatives. Has your marketplace changed? Does technology change your relationship to your customer? Are certain procedures no longer appropriate for a different market or product? We use our experience to help you find your best total business solution.

 

Corporate History

Management Data, Inc., based in Birmingham, Alabama, was founded in 1982 by Neal A. Farmer, F.S.A., MAAA, for the purpose of developing fast, flexible insurance administration software that could help providers respond quickly to a rapidly changing insurance marketplace. Since 1982, MDI has provided insurance-related consulting services and software to clients throughout the U.S., in the Caribbean, Canada, Central America, and the Far East.

Since the one constant in life is change, both MDI and FIMMAS have been built to be lean and nimble, able to adjust quickly to changes in market demands and technology. In 2002, MDI employees purchased the company and established a new business partnership with IAI, an insurance Application Service Provider. The FIMMAS system was recently updated with a new look and new navigational tools to give our clients the functional benefits and improved usability of new technology.

Patrick D. Michael, FLMI, CLU, ChFC, MDI's president since 1999, continues to pursue the same mission that has propelled MDI for over 25 years: dedication to client satisfaction and client success, focus on a hands-on, personal relationship with each client, and a commitment to doing whatever it takes to make MDI's clients and employees successful for another 20 years.

  

Financial Structure

MDI is a privately held corporation. It is an independent company, fully-funded by its own work, and operating on revenues from internal earnings, not venture capital or capital from an acquiring parent company. This financial independence has allowed MDI to quickly adopt new technologies, to be flexible in executing a "whatever it takes" approach to client service and support, and to be agile in allocating internal resources to changing client and business priorities. MDI is not just one division of a large parent company, nor does it have to answer to investors who have no direct interaction with MDI's insurance clients. As an independent company, MDI can set its own course and direction, and can respond quickly with individualized solutions to its clients' needs.

As a result, MDI has accomplished what many independent technology companies never achieve: It has successfully stayed in business for over 25 years, through several economic cycles, major technological changes, and a refocusing of strategic business direction.

  

Staff / Organization

MDI's officers and staff have extensive, hands-on experience in insurance marketing, agency management, insurance administration, information systems design, and executive management in major insurance companies. We understand the products, distribution channels, support systems, compliance rules, and business process design needed to support a wide range of life, health, and annuity insurance products.

MDI is a small, tightly focused company. Our resources have in-depth knowledge of the insurance industry. Our staff includes three Fellows of the Society of Actuaries, and numerous other insurance industry designations, such as Fellow of the Life Management Institute, Chartered Life Underwriter, and Chartered Financial Consultant. Our officers and senior staff are actively involved in all aspects of product implementation and client support.

Our organization is structured as a network of resources, not a strict hierarchy. The resources of the entire company are available to our clients as needed. MDI also has relationships with industry consultants and consulting firms with a working knowledge of FIMMAS. These partnerships provide additional expert resources as needed to meet the implementation and support requirements of our clients.