CGI CLIENTS CELENT MODEL CARRIERS
Midwest Family Mutual Insurance Company and Chubb Group of Insurance Companies honored at New York City summit
CGI Group, Inc. (TSX: GIB.A; NYSE: GIB), a leading provider of information
technology and business process services announced that two CGI clients, Midwest
Family Mutual Insurance Company and the Chubb Group of Insurance Companies, have
been included in the Celent Model Carrier 2008 Report. Award winners were
honored at the Model Carrier Summit in New York City held on January 9, 2008.
Celent, a research and consulting firm focused on the application of information technology in the global financial services industry, publishes the Celent Model Carrier Report to illustrate case studies of key best practices in the use of technology in IT infrastructure and management that a “model carrier” would use.
Midwest Family was recognized as a Model Carrier: P/C (Property and Casualty) in the Infrastructure and Architecture category for their implementation of a “work from home” program which dramatically reduced Midwest Family’s expenses and provided a much more flexible business model. The initiative was part of an overall aggressive technology strategy that was adopted in 2002 and was made possible by utilizing CGI’s INSideOUT solution, which provides a fully integrated end-to-end solution for policy and claims administration, in a paperless environment.
“The biggest cost savings to Midwest Family is the fact that our employees, who used to work out of our head office, now work from home. All of their work is distributed electronically through the INSideOUT workflow imaging system and all customer files are available online,” said Ron Boyd, President and CEO, Midwest Family Mutual Insurance Company. “CGI is truly our business partner and the continued development of the INSideOUT suite has made our company much more productive, efficient and profitable,” said Boyd.
Chubb was recognized as a Model Carrier: P/C in the Product Design and Development category for the creation of a common rating environment. In 2000, Chubb externalized rating for multiple lines commercial insurance from its legacy policy administration system to CGI’s Ratabase rating engine and since has connected its agent portal and has added an additional XML connector for another line of business.
Mike Meyer, Senior Technical Analyst, Chubb Commercial Insurance, explained, "Externalizing rating rules and formulas to Ratabase has reduced Chubb's maintenance costs and times on rating related changes up to 35% and has ensured greater consistency across applications.”
Paul Raymond, Senior Vice-President New England and Insurance Services, CGI said, “We congratulate Midwest Family and Chubb on their achievements. CGI takes pride in partnering with clients to transform their businesses to achieve measurable results.”
CGI’s INSideOUT policy and claims software platform is a complete set of solutions focused on automating the business of insurance. It’s one of the most comprehensive and integrated software solution set in the industry today. INSideOUT’s components include: policy, claims, rating, underwriting, web, third-party ordering/receiving, workflow/imaging, data interchange interface, analytics and print output.
CGI’s Ratabase is a comprehensive set of tools that empowers your business professionals to build, design, and publish insurance products in the fastest possible time and manner. Since business users maintain the business logic, the dependency on IT resources is minimized thus increasing the speed with which organizations can respond to market needs. Because it is not line of business specific, Ratabase is successfully implemented by many insurance organizations to create different and unique product plans. It can be deployed on a variety of platforms, facilitating integration into systems with broad processing requirements and distributed architectures, while ensuring consistent results across platforms. The Ratabase Tool Suite gives you the flexibility to interface the business rules to any external system via XML or a standard API.
Founded in 1976, CGI Group Inc. is one of the largest independent information technology and business process services firms in the world. CGI and its affiliated companies employ approximately 26,500 professionals. CGI provides end-to-end IT and business process services to clients worldwide from offices in Canada, the United States, Europe, Asia Pacific as well as from centers of excellence in North America, Europe and India. CGI's annual revenue run rate stands at $3.7 billion and at December 31st, 2007, CGI's order backlog was $12.04 billion. CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in the S&P/TSX Composite Index as well as the S&P/TSX Capped Information Technology and MidCap Indices. Website: www.cgi.com.
For more information:
New England & Insurance Services
Vice-President, US Communications