HARFORD MUTUAL INSURANCE COMPANY SELECTS CGI’S RATABASE® RATING ENGINE SOLUTION
Harford Mutual Insurance Company (Harford), insurer of commercial and personal
lines since 1842, has selected CGI Group Inc. (CGI) (TSX: GIB.A; NYSE: GIB) to
implement its insurance rating solution Ratabase® . Through this
agreement, Ratabase will be integrated into Harford’s applications and used to
rate their Commercial and Personal lines of business for the 8 states in which
they currently write business. Ratabase, CGI’s Rate & Rules Management Tool
Suite, is the industry’s leading insurance rating solution being used in more
than 100 carriers worldwide. Ratabase provides a comprehensive, cost-effective
solution that allows insurance experts within a carrier to rapidly develop and
deploy insurance products to any application on any platform.
“Finding the right solution for our company is extremely important. Our ability to increase productivity while reducing maintenance costs paves the road for our future growth. Ratabase has an excellent track record with leading carriers for proven reliability and performance. By retrofitting Ratabase into our current technology infrastructure, we plan to enhance our efficiency and establish an environment for the design and delivery of new insurance products,” said Steve Fabian, IT Director with Harford.
Paul Raymond, Senior Vice-President, with CGI added: “We are extremely proud to add Harford to the continuously growing family of Ratabase companies. We look forward to a strong partnership and know Ratabase will bring immediate value to Harford’s operations. We are confident that Ratabase will help Harford achieve their business goals more rapidly and allow them to further grow their business in strategic ways.”
Ratabase is a powerful and flexible software productivity tool suite designed to enable business experts within insurance carriers to develop the algorithms, rate tables, and logic for insurance rating and automated underwriting applications. This logic can be built once and deployed to any end-user application(s) on any platform(s). By empowering the business experts within a carrier to rapidly deploy insurance products – costs are significantly reduced for both system development and maintenance. Ratabase can be utilized in a new development effort or can be retrofitted into existing company developed or vendor supplied systems.
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 annualized revenue run rate stands at $3.6 billion (US$3.1 billion) and at December 31st, 2006, CGI's order backlog was $12.6 billion (US$10.9 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.
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