Insurance technology company BAIS has given its flagship insurance platform, iBAIS, a major pre-Christmas makeover.
Released today, iBAIS 2.0 has an extensively updated user interface and usability to make it more elegant for brokers, underwriters, and customers. The updated platform also features a real-time, customisable dashboard and enhanced value for insurtechs and other applications seeking to interface with iBAIS.
After a preview of iBAIS2.0, Jordan Brindley, general manager operations at Coast Insurance, commented: “We at Coast Insurance are very excited. The system has had a complete facelift, which makes it look fresh, modern, and clean, all the while still maintaining the structure we know iBAIS for, meaning that the new version will be easy to navigate after the change. The one feature we are most excited about [is] the real-time dashboards added to the home screen; these will truly improve our business operations on a day to day basis.”
The investment in developing iBAIS since its launch stands at $42 million and counting, with the latest changes to the insurance platform considered to be its most significant upgrade in a decade, reflecting the company's continued investment in its insurance technology solutions.
BAIS also improved iBAIS's core technology building blocks to facilitate the platform's further development into the future.
BAIS CEO David Hampton said the release of iBAIS 2.0 is an important milestone for the company and represents its new journey to building a relevant development roadmap for its customers.
“The last two years [have] taught the insurance industry many lessons, and BAIS wants to allow existing and new customers to streamline their business to make better profit margins,” Hampton added. “We started reviewing the customer experience on our platform a couple of years ago and knew we had some work to do. It is now ready to go, and initial feedback is that users think it is an impressive step forward.”
The new upgrade to iBAIS 2.0 is now available to current clients at no cost. It will be available to new clients from January 2022.
Early this year, BAIS shared its plans to improve its insurance technology solutions – with the appointment of David Farrer as chief technology officer being the first on its agenda.
Ferrer had been with BAIS for eight years when he took the role of chief technology officer. He has a solid technical background with more than 30 years of experience in multi-value databases gained from various roles, including software consultancy, business analyst, and data processing manager.
In a previous comment, Hampton said: “BAIS has been busy positioning the business for growth and innovation. The events of 2020 have highlighted the demand for new insurance products and ways of managing risk.
“Having [Farrer] in the role of chief technology officer will further ensure the insurance technology solutions we develop make it easier for customers to make their objectives happen smoothly and efficiently.”
