INDUSTRIAL-ALLIANCE AND CGI RENEW $20-MILLION PARTNERSHIP
Industrial-Alliance Group and CGI today announced the renewal of a five-year partnership agreement with a minimum value of $20 million.
Based on this agreement, Industrial-Alliance Life Insurance Company and its National Life subsidiary will continue to rely on CGI for the operation and management of their information technology environment. This environment supports their overall business applications, both for life insurance, (including policy issuance, claims management and billing) and for savings and retirement plans, investment funds and mortgage loans.
The contract includes provisioning of OS/390 equipment as well as computers, discs, software and peripherals. CGI's staff will manage the environment and provide technical support.
"Industrial-Alliance was already an outsourcing client of IST at the time of its acquisition by CGI and we are therefore well aware of the advantages and economies derived from this formula," said Réjean Devin, Industrial-Alliance Vice-President of Data Processing. "We chose CGI because it has the market presence, expertise and resources to meet all of our technology needs," he said.
Jean Brassard, CGI's President and COO, added that: "CGI has a distinct advantage given our people's thorough understanding of both information technology and the insurance industry. Combining our expertise in these two areas allows us to develop solutions that support fully the business needs of our insurance clients across Canada."
Industrial-Alliance Life Insurance Company is a mutual life and health insurance company founded over 100 years ago. It offers a full line of life and health insurance products, savings and retirement plans, RSSPs, investment funds, mortgage loans, general insurance and other financial products. It manages assets worth more than $10 billion.
National Life, a subsidiary of Industrial-Alliance, will celebrate its 100th anniversary in June 1999. It ranks 15th among Canadian life insurance companies in terms of its total declared assets.
CGI is the largest independent information technology consulting firm in Canada and the sixth largest in North America. It provides end-to-end IT services and business solutions to some 2,000 clients in Canada, the United States and in 20 countries around the world. With the acquisition of Bell Sygma, CGI has more than 7,500 professionals, an annualized revenue-run rate of more than $1.1 billion and an order backlog totalling approximately $6 billion. CGI's shares (GIB.A) are included in The Toronto Stock Exchange's TSE 300 Composite and TSE 200 indexes.
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