Australian insurtech firm BAIS insurance technology (BAIS) has celebrated 30 years of providing technology solutions to help members of the Australian insurance industry run their operations.
BAIS founders Andrew Morris (pictured, left) and Jim Armstrong (pictured, middle) – who remain directors of the firm – and Julie Polich (now retired) registered the firm in 1993 and created the Broker’s Advantage system to support Lowndes Lambert.
A part of the firm’s strategy is continual investment, including a A$40 million investment into ensuring clients’ operations are supported by robust technology that enables them to focus on adding value to their customers.
Commenting on the milestone, BAIS CEO David Hampton (pictured, right) said: “Technology has evolved beyond all recognition over the past 30 years, and the pace of change continues to increase. It is a testament to the dedication, talent, and hard work of the BAIS team, many of whom have been with the business over 15 years, that we remain the insurance system of choice for large numbers of underwriting agencies, brokers, and other insurance organisations.”
iBAIS was launched in 2006, making it the first fully browser-based insurance system in the world. It supports brokers, underwriting agencies, and insurers by providing quote and bind solutions and securing back-office administration and accounting. Over the years, it has constantly evolved, with iBAIS 2.0 launched at the end of 2021.
The iBAIS system currently:
BAIS said future developments will include updates to CRM functionality and graphical reporting.
“Our client base continues to increase with positive feedback about the service provided by our local team a common theme. We can’t wait to see how things will develop over the next 30 years,” Hampton said.