CGI AND HP DELIVER BUSINESS PLATFORM FOR KINNECT, A LLOYD’S OF LONDON SPONSORED INITIATIVE
- KINNECT DRASTICALLY REDUCES THE COSTS OF COMMERCIAL INSURANCE BUSINESS TRANSACTIONS
CGI Group (Europe) Ltd (CGI) (TSX: GIB.A; NYSE: GIB) and HP (NYSE:HPQ) have delivered a business platform for Kinnect Inc., a Lloyd's of London sponsored initiative, to improve the efficiency and effectiveness of trading relationships within the international commercial lines insurance market.
Kinnect, previously operating as Project Blue Mountain, chose CGI and HP as lead technology partners in this innovative new business venture. The multimillion-dollar program provides an adaptable, accessible and secure platform enabling commercial lines trading partners to communicate risk data electronically.
Kinnect allows all participants to transfer data and information securely and have the flexibility to choose which of their processes are supported by the platform. This ensures that Kinnect customers retain the distinctive aspects of their business practice such as data, processes, systems and brand.
The platform enables insurance underwriters - the professionals who assess each insurance risk and agree a premium to accept the risk - to improve their daily working practices by giving them better accuracy and timeliness of incoming data, increased time to analyze risks and better exposure management.
Meanwhile brokers - the professionals who place risks on behalf of the insured - can benefit from a reduction in time-consuming administration processes and reduced errors and omissions. The platform enables brokers to concentrate on their core business and provide higher levels of service to clients and underwriters.
CGI's prime responsibility was the development of Kinnect's International Business-to-Business software platform and applications. By fielding a large multi-disciplined international team, within just nine months CGI has completed the design, development and delivery of the applications. Based on a J2EE platform, the applications provide Kinnect customers with both a standard browser interface for human interaction as well as an XML/SOAP-based interface enabling integration with existing front and back office systems.
HP's role has been to design and build the secure IT infrastructure platform. Working closely with CGI, HP's infrastructure and middleware capabilities have been integrated with networking and security to deliver to Kinnect's exact requirements.
"The flexibility, quality of delivery and the personal commitment of CGI and HP has helped us to build this exceptional venture from the ground up," commented Ashok Gupta, CEO of Kinnect.
"HP and CGI were chosen for their specialist industry knowledge and ability to respond to complex requirements within aggressive time-frames," added Phillip Bungey, CTO of Kinnect. "Both companies also demonstrated significant eCommerce development expertise and a capability to work in partnership with others. This assessment has proved accurate and they have done exactly what they said they would do on time and to budget."
Gavin Chapman, managing director of CGI Group Europe Ltd, said: "CGI is delighted to be a key partner in this exciting new venture, particularly as Kinnect is perfectly aligned with our growth plans within the insurance sector and our key target markets in the US and Europe."
"HP designed, built and delivered this adaptive infrastructure based on our customer's business requirements. Kinnect is an open, agile and secure platform, delivering value to the market by reducing costs and increasing productivity," commented Jim Kent, vice-president and general manager HP services UK and Ireland.
About Kinnect Inc.
Kinnect is an international venture, sponsored by Lloyd's. It enables commercial lines trading partners to communicate risk data electronically for quicker and higher quality business completion, greater productivity and profit via an adaptable, accessible and secure platform. Kinnect began in December 2001, operating under the project title of Blue Mountain. Kinnect currently operates in the United States and United Kingdom. For more information on Kinnect, please visit www.kinnect.com.
About CGI Founded in 1976, CGI is the fourth largest independent information technology services firm in North America, based on its headcount. CGI and its affiliated companies employ 20,000 professionals. CGI's annualised revenue run-rate is currently CDN$2.9 billion (US$1.9 billion) and at March 31, 2003, CGI's order backlog was CDN$11.2 billion (US$7.6 billion). CGI provides end-to-end IT and business process services to more than 3,500 clients worldwide from offices in Canada, United States and Europe. CGI's shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in the TSX 100 Composite Index as well as the S&P/TSX Canadian Information Technology and Canadian MidCap Indices. Website: www.cgi.com.
HP is a leading global provider of products, technologies, solutions and services to consumers and businesses. The company's offerings span IT infrastructure, personal computing and access devices, global services and imaging and printing. HP completed its acquisition of Compaq Computer Corporation on May 3, 2002. More information about HP is available at www.hp.com.
All statements in this press release that do not directly and exclusively relate to historical facts constitute "forward-looking statements" within the meaning of that term in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. These statements represent CGI Group Inc.'s intentions, plans, expectations, and beliefs, and are subject to risks, uncertainties, and other factors, of which many are beyond the control of the Company. These factors could cause actual results to differ materially from such forward-looking statements.
These factors include and are not restricted to the timing and size of contracts, acquisitions and other corporate developments; the ability to attract and retain qualified employees; market competition in the rapidly-evolving information technology industry; general economic and business conditions, foreign exchange and other risks identified in the Management's Discussion and Analysis (MD&A) in CGI Group Inc.'s Annual Report or Form 40-F filed with the SEC, the Company's Annual Information Form filed with the Canadian securities authorities, as well as assumptions regarding the foregoing. The words "believe", "estimate", "expect", "intend", "anticipate", "foresee", "plan", and similar expressions and variations thereof, identify certain of such forward-looking statements, which speak only as of the date on which they are made. In particular, statements relating to future revenue from outsourcing contracts are forward-looking statements. CGI disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements.
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