APAC CIOOutlook

Advertise

with us

  • Technologies
      • Artificial Intelligence
      • Big Data
      • Blockchain
      • Cloud
      • Digital Transformation
      • Internet of Things
      • Low Code No Code
      • MarTech
      • Mobile Application
      • Security
      • Software Testing
      • Wireless
  • Industries
      • E-Commerce
      • Education
      • Logistics
      • Retail
      • Supply Chain
      • Travel and Hospitality
  • Platforms
      • Microsoft
      • Salesforce
      • SAP
  • Solutions
      • Business Intelligence
      • Cognitive
      • Contact Center
      • CRM
      • Cyber Security
      • Data Center
      • Gamification
      • Procurement
      • Smart City
      • Workflow
  • Home
  • CXO Insights
  • CIO Views
  • Vendors
  • News
  • Conferences
  • Whitepapers
  • Newsletter
  • Awards
Apac
  • Artificial Intelligence

    Big Data

    Blockchain

    Cloud

    Digital Transformation

    Internet of Things

    Low Code No Code

    MarTech

    Mobile Application

    Security

    Software Testing

    Wireless

  • E-Commerce

    Education

    Logistics

    Retail

    Supply Chain

    Travel and Hospitality

  • Microsoft

    Salesforce

    SAP

  • Business Intelligence

    Cognitive

    Contact Center

    CRM

    Cyber Security

    Data Center

    Gamification

    Procurement

    Smart City

    Workflow

Menu
    • Cyber Security
    • Hotel Management
    • Workflow
    • E-Commerce
    • Business Intelligence
    • MORE
    #

    Apac CIOOutlook Weekly Brief

    ×

    Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Apac CIOOutlook

    Subscribe

    loading

    THANK YOU FOR SUBSCRIBING

    • Home
    • Insurance
    • BAIS
    Previous
    Next

    BAIS: Driving Innovation in Insurance Processing System

    Jim Armstrong,Owner, BAISJim Armstrong, Owner
    Technology has inevitably changed the functioning of the insurance industry and significantly impacted the bond shared by the insurers and the insured. Consequently, the pressure on insurance companies is high for transforming their business processes in order to weather the financial storm. In the midst of soaring demands of the current economic times, there is a place for innovation. As such, companies like BA Insurance Systems (BAIS) were born. As companies constantly seek to improve their transaction processing with regards to compliance and integrity, BAIS stands out among others with its simplicity and support for business growth and innovation. “Our organization was created to innovate, customize and provide meaningful applications as part of our key value set,” says Jim Armstrong, Owner of BAIS. The company offers a fully integrated insurance processing system for insurance companies, underwriting agencies, brokers and claim management organizations. With its intuitive, cost-effective and forward-thinking products that can be implemented with ease, BAIS has positioned itself as a forerunner in the insurance industry.

    BAIS, which started in 1992, has clients among the local insurance brokers in Singapore, Australia, Mauritius, the Philippines, New Zealand, Thailand, Hong Kong, Papua New Guinea and Indonesia. The company is constantly on the lookout for ways to improve its usability and operational efficiency and provide more real-time solutions. “As consumers demand round-the-clock access to products and services, companies need systems that provide real-time solutions which take less time, and reduce costs and complexity,” says Armstrong.
    ibais, the company’s browser-based software, is a full enterprise system that covers and manages end to end processing in the areas of insurance processing, client management, claims processing, commercial ledgers, task management, general ledger, document production and standard and ad-hoc reporting. It also provides integrated online insurance capabilities for B2C and B2B policies as well as broker and client portals. The fact that ibais requires zero PC deployment is another advantage, allowing the product to be used whenever and wherever required. Armstrong elaborates, “The system enables integrated responsive design online products which generate ibais transactions including accounting transactions, with online payment options and automatic acquittal.”

    Insurance transactions have a variety of documentation requirements, in Ibais these may be completed by the insurance company staff, brokers or general public. The options of installment processing, premium funding interfaces, payment gateways, multi-client policies, co-insurance, and risk insurance can be easily availed online. “ibais also includes multi-company, multi-divisional, multi-currency and multi-lingual functionality,” adds Armstrong. BAIS begins with the awareness that each organization has its own requirements. “Since we exist as a single set of source code, we can customize our system to accommodate each client’s requirements using parameter settings,” explains Armstrong. This feature enables the client organization to apply its own languages, currencies, statutory charges and levies to use the product optimally.

    BAIS’ expertise proved highly beneficial to a client seeking to reduce costs and increase the efficiency of broker transactions, while simultaneously providing an attractive product offering. BAIS created a suite of online products that would be available to the client’s brokers via a secure Broker Portal. These products are secure, easy to use and fully automated, besides being easily available. Implementing the solution helped BAIS’ client, to attain its aim of cutting costs while implementing no-touch binding policies that left the staff free to underwrite more complex risks, gradually growing the company’s portfolio. The client became recognized as a market leader by winning a prestigious industry award for a number of consecutive years.

    At the forefront of insurance systems technology, BAIS created the DesignBAIS developer toolset with an intention to remain innovative by creating products and functionality that can keep ahead of the constantly changing needs of the industry.
    Previous
    Next
    Share this Article:
    Tweet

    BAIS Info

    Company
    BAIS

    Headquarters
    Sydney, Australia

    Management
    Jim Armstrong, Owner and Andrew Morris and Julie Polich, Owners

    Description
    Provides software and services to the insurance industry

    2018

    I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info

    CIO Speaks

    Previous Next
    Cloud Computing: Pharma Takes the Plunge

    Andy Newsom, SVP & CIO, CSL Behring

    WiFi 6, 5G and the Internet of Things (IoT)

    Mark Badal, CIO, IT&E

    In Augmented Reality, Size Matters

    Jason Blackman, CIO, Carsales.Com

    Enhancing Customers

    Marc A. Hamer, VP & CIO, Babcock & Wilcox Enterprises, Inc.

    Cloud or On-Premise? When Would The Question End?

    Kevin Soh, CIO and Director, e-Strategies, BH Global Corporation

    Responsible AI: The Human-Machine Symbiosis

    Sal Cucchiara, CIO & Head Of Wealth Management Technology, Morgan Stanley

    Asian Development Bank: Using Emerging Digital Technologies for the Common Good

    Shirin Hamid, CIO, & CTO, Asian Development Bank

    Diversity and Inclusion can Drive Better Solutions for Clients and Employee Engagement

    Linda K. Lannen, CIO & Sr. VP, Kleinfelder

    Cyber Security - Integrated enterprise approach required to address the multifaceted challenges

    Sumit Puri, CIO, Max Healthcare

    The Great Tech Arms Race: How Changing Consumer Behaviour and Expectation is Driving Ecommerce Transformation

    Brett Raven, CIO, Big Red Group

    Relying On Technologies To Transform Data Into Information

    Mark Ohlund, CIO & Sr. V.P., Armada Supply Chain Solution

    3D Printing Requires Wildly Different Thinking

    James MacLennan, SVP & CIO, IDEX Corporation

    Copyright © 2025 APAC CIOOutlook. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Use and Privacy and Anti Spam Policy 

    Home |  CXO Insights |   Whitepapers |   Subscribe |   Conferences |   Sitemaps |   About us |   Advertise with us |   Editorial Policy |   Feedback Policy |  

    follow on linkedinfollow on twitter follow on rss
    This content is copyright protected

    However, if you would like to share the information in this article, you may use the link below:

    https://www.apacciooutlook.com/bais