CGI SIGNS TWO CONTRACTS WITH LEADING MIDWESTERN AND SOUTHERN INSURERS
CGI Group, Inc. (TSX: GIB.A; NYSE: GIB), a leading provider of information
technology and business process services, today announced the signing of
contracts with two insurers in the Midwest and Southern U.S. Under the first
agreement, CGI will provide a 25-year software license for the policy and claims
processing components of the INSideOUT® Suite, and a software
maintenance agreement. CGI will be providing the second new client with a hosted
solution of the INSideOUT Policy and Claims solution for five years.
After reviewing multiple solutions in the property and casualty market place, as well as considering the development of their own solution, both insurers chose CGI’s INSideOUT software suite because of its superior functionality, technical platform, and .NET direction.
The structure of the INSideOUT suite gives each company significant control over their long-term strategic direction. CGI provides IT staff, data center management, and a single source for their property and casualty business requirements. The .NET technical direction of INSideOUT fits the strategic direction of these clients, and improves speed to market for the new products that these companies will enter into the property and casualty market.
“With over 4,000 CGI professionals serving the insurance sector, CGI is a proven and dedicated expert,” said Paul Raymond, Senior Vice-President, responsible for CGI's Insurance Services Unit in the US. “We look forward to evolving our solutions and services with the insurance industry, and see these contracts as an opportunity to continue to expand our global presence in the insurance sector.”
CGI provides end-to-end services to the global insurance industry, serving 75 of the top 100 insurers. CGI joins technology with the management of insurance products to include claims, underwriter, actuarial, loss prevention, targeting the property casualty insurance industry, life and health, and accident/sickness sectors.
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 25,500 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 CDN$3.7 billion and at June 30th, 2007, CGI's order backlog was CDN$12.4 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