CGI TO MERGE INSURANCE DIVISIONS
CGI Group Inc. (TSX: GIB.A; NYSE: GIB), a leader in information technology and
business process services is pleased to announce that as of May 21, 2007 it will
combine its insurance divisions to provide even better service and value to its
CGI’s US Insurance Business Services Division will merge with CGI’s Insurance System Integration and Consulting practice to better integrate the delivery of all of CGI’s insurance and technology expertise.
This new division will be led by Paul Raymond, Senior Vice-President, CGI. Paul has been with CGI for over 14 years and brings over 20 years of experience in the consulting, systems integration, information technology, and business process outsourcing services.
“Having recently been ranked #1 in the insurance industry on the Fin Tech 100 list, CGI continues to seek ways to better serve its insurance clients,” said Paul Raymond. “The insurance space is a highly competitive environment, and we feel that merging our Insurance divisions will allow us to continue to be a leader in this space.”
The combined US operations will include over 750 professionals, and will strengthen CGI’s position as an industry leader in providing end-to-end business process and system integration capabilities. The U.S. team will continue to be supported by CGI’s 4,000 global insurance experts.
“Like our client companies, we continually look to improve our business model to better support their growth,” added Paul Raymond. “We strive to make CGI the first name they think of when they need a partner to help them stay ahead of their competition.”
CGI is a leading partner of insurance carriers who are seeking to capitalize on market opportunities ranging from consolidation to specialization. CGI’s complete insurance capabilities encompass proven processes and solutions that allow carriers to increase their competitiveness. CGI helps clients focus on those functions that achieve market differentiation, such as product management and sales channel development, and delivers structured platforms that transform functions such as underwriting, policy administration, premium accounting and claims. CGI also manages non-core yet critical back-office functions on clients’ behalf, allowing them to achieve optimal business performance.
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 25,000 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 $3.8 billion (US$3.3 billion) and at March 31st, 2007, CGI's order backlog was $12.3 billion (US$10.8 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:
Director, Corporate Communications and