Australian insurtech providers Wilbur and BAIS have formed a partnership to provide improved end-to-end policy and claims solutions to the insurance industry nationwide and globally.
As part of the partnership, Wilbur will integrate its Claim Suite with the BAIS policy administration solution, which they expect to gain strong interest throughout the industry.
Wilbur's digital claims management suite and services deliver relevant, innovative solutions at the claims delivery end of the insurance value chain to ensure consistent, customer-focused, and efficient claims outcomes. Meanwhile, BAIS has built comprehensive insurance platforms for small and medium-sized insurance companies, agencies, and brokers with full policy administration, client portals, and accounting capability.
The partnership came after the companies developed seamless integrations between their respective platforms to provide better data and process management solutions using a common data source.
“As a business, we have always maintained a keen focus on providing best-in-class services and solutions to manage insurance claims. BAIS, on the other hand, has historically focused on creating a rock-solid feature-set around policy administration, accounting, and financial workflow,” said Wilbur chief executive officer Mark Cohen (pictured right).
“When we spent time with BAIS and learned about their capabilities, we were excited about the opportunity to jointly deliver something special. The successful integration of Wilbur Claims with the iBAIS insurance system provides a very strong proposition to the insurance industry.”
BAIS CEO David Hampton (pictured left) added: “Few solutions have given underwriters, insurers, and brokers a comprehensive view of a client's policy and claims data along with the services to manage the claims process.
“We've enjoyed working with the Wilbur team and found our strong alignment of values helped lead to the rapid development of this exciting new solution. I am confident the alliance will result in one of the most powerful and comprehensive solutions available to the insurance industry anywhere in the world.”
Greg Johnson, the head of distribution partners at Wilbur, and Hampton will spearhead the joint insurtech solution. Existing clients of both companies can soon test how the new solution can improve insurance operations and the level of service.
