Insurance technology provider BAIS is celebrating 30 years of helping the local insurance industry run operations and providing one of Australia’s leading insurance platforms, iBAIS 2.0.

CEO David Hampton says technology has “evolved beyond all recognition” over the past three decades, 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 in excess of 15 years, that we remain the insurance system of choice for large numbers of underwriting agencies, brokers and other insurance organisations,” he said.

From the blue screen of the first system, BAIS has used local Australian developers and client service specialists to build its solution. It has invested more than $40 million into making sure clients can be confident that their operations are supported by robust technology.

Registered in 1993 by Directors Jim Armstrong and Andrew Morris, along with Julie Polich, the trio initially created the Broker’s Advantage system to support Lowndes Lambert. Its derivative iBAIS was the first fully browser-based insurance system in the world when launched in 2006.

iBAIS 2.0 came at the end of 2021. It supports brokers, underwriting agencies and insurers, from quote and bind solutions to secure, back-office administration and accounting. Future developments will include updates to CRM functionality and graphical reporting.

The iBAIS system currently handles $3.5 billion in premiums, processes 1.4 million transactions a year for a million policies and supports organisations across Australia, New Zealand, PNG, Singapore, Indonesia, Philippines, Thailand and Mauritius.

“Our client base continues to increase, with positive feedback about the service provided by our local team a common theme,” Mr Hampton said. “We can’t wait to see how things will develop over the next 30 years.”