
CGI'S RATABASE® NAMED LEADER IN RATING CATEGORY
Boston, Massachusetts, June 27, 2006 -In its May 2006 published report “Insurance Software Deal Trends 2004-2005”,
Celent has named CGI as a leading vendor in the Rating category, based on the
company’s deal volume.
The report notes that rating is currently an
important area for technology investments. “It's no surprise that rating is a
priority for property/casualty carriers of all sizes,” says Craig Weber, senior
analyst in Celent’s insurance group and author of the reports. “There's a
constant push to improve the way pricing and underwriting decisions are handled
because they are such a strong driver of customer and distribution partner
satisfaction, and of financial results.”
Celent’s independent,
industry-leading report is based on a sample of 1,158 software deals in
insurance signed in 2004 and 2005 by 68 vendors. Details about the majority of
the deals analyzed—including the carrier type, carrier size, and business
processes supported—were provided by the vendors. Additional deals were captured
by reviewing public data sources. The report analyzes deals across four
metacategories and 42 subcategories.
David Squibb, Director, CGI’s
National Ratabase Practice stated:”We are pleased to be recognized by Celent as
a leading provider in the Rating category. CGI continually invests in the
Ratabase solution and maintains a large national practice of experienced
insurance and rating knowledgeable consultants.” Squibb added: “We believe that
rating is more than just a function within a policy administration application
as it was historically viewed. Rating is core to the business of an insurance
carrier. By externalizing their rating information into a rating engine that can
be easily called from any application on a variety of platforms, a carrier can
quickly develop their insurance programs once and make them available to any
consumer of that information within their organization (policy administration,
web quoting, actuarial modeling, etc.)” This has allowed more than 100 carriers
to use Ratabase to drastically improve the speed to market while reducing their
costs.”
CGI works with carriers of all sizes to implement the
appropriate solutions for their business needs. With more than 25 years of
experience working with leading carriers worldwide, CGI continues to be at the
forefront of the rating arena. With the leading solution and the experienced
staff of professionals, CGI has the winning combination to empower its clients
to successfully achieve their business goals.
CGI’s Ratabase® is a
comprehensive set of tools that empowers 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 users the flexibility to interface the business rules to any
external system via XML or a standard API.
About CGI
Founded
in 1976, CGI Group Inc. (“CGI”) is the eighth 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 of America (“US”), Europe, Asia Pacific as well as
from centers of excellence in Canada, the US, Europe and India. CGI's annualized
revenue run rate is currently $3.5 billion (US$3.0 billion) and at March 31,
2006, CGI's order backlog was $13.7 billion (US$11.7 billion). CGI's 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.
About Celent
Celent is a
research and advisory firm dedicated to helping financial institutions formulate
comprehensive business and technology strategies. With a team of internationally
experienced analysts, Celent is uniquely positioned to offer strategies, advice
and market insights on a global basis. For more information, please visit www.celent.com.
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For more information
Media
Contact:
Kirsten Paragona
Director, Corporate
Communications
Kirsten.paragona@cgi.com
978-569-6111
Business
Contact::
David Squibb
Director, Business
Development
David.squibb@cgi.com
978-946-3343
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