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Improving speed to market for new products creating real shareholder value in the BahamasBritish American Financial (BAF), a leading financial solution provider based in Nassau, Bahamas has been a customer of Airas Intersoft for a number of years. As a leading product provider in the Bahamian market, BAF is innovative in providing a range of financial solutions including Life Assurance, Mutual Funds, Health Insurance, Annuities and Pension Plans. A key goal is to continually assess product effectiveness to ensure ongoing profitability whilst addressing and expanding the product range into new areas of demand. Gilbert Williams, Vice-President and Chief Operations Officer explains that after a period of system migration onto iGas, management were keen to maximise their usage of the system and derive full benefits from the extensive product parameter facilities inside iGas. Investing in a period of training, BAF have recently opened up a new distribution channel and developed 4 new Life Assurance and Savings products themselves reducing external IT costs for these and future launches. Extracting further value from the training investment, Williams points to the fact that the increased knowledge in iGas facilities enables BAF to review profitability of the existing product portfolio, make enhancements and use the features to support marketing campaigns speedily and effectively. Commenting on how quickly the product set-up was, Paul Raeburn, Assistant Manager IT department and responsible for the product development inside iGas said ‘we created all these new products ourselves, independent of our IT supplier, in a matter of days. We created new solutions as varied as Credit Life, Universal Life, Whole of Life and a short term Home Insurance product and found no limitations to our requirements inside the parameters. It was particularly pleasing to set these products up inside the time taken to prepare and print marketing documentation confirming IT need not be a barrier to speedy product launch.’ Confirming these statements, Chester Cooper, President and CEO said ‘these product creation features in iGas help us empower management and staff to maximise shareholder value by doing things ourselves, reducing our costs and speeding up time to market’
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Airas Intersoft www.airasintersoft.com |
14th
May 2008
