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Pandemic boosts demand for efficient technology: BAIS

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Insurance technology firm BAIS says more companies are looking to launch digital products and remove inefficiencies in existing systems as the pandemic accelerates change.

Director Jim Armstrong says companies approaching the firm have tended to fall into “two buckets”.

“Firstly, those that have been looking at launching a new product, such as a client/broker portal or a quote, bind, pay solution and have not got around to it,” he says.

“Secondly, companies who have an existing product, but it is either not working well enough or requires some form of double handling to get data integrated effectively into systems.”

The demand for digital solutions that are easy to manage by a remote workforce is expected to increase further as the pandemic continues, particularly in Victoria, BAIS says.

Secure remote working capabilities for companies has also been highlighted as one of the main features required.