Changing demographics, increased competition and economic uncertainty are forcing life insurers to adopt new ways of doing business to stay ahead. An aging population has resulted in an oversaturation of products in the market, while retiring baby boomers are requiring a shift in business models from wealth accumulation to wealth distribution. In addition, economic worries have slowed life insurance spending, particularly among Generation Y.
CGI understands the challenges faced by life insurers and offers a suite of life insurance services designed to address those challenges and drive profitable growth. Our experts work with life insurers to help them achieve the following:
- Reinvent products and introduce new ones
- Attract and retain loyal customers
- Enhance operational efficiencies
- Reduce operational costs
- Improve risk management
- Evolve legacy systems
- Optimize business intelligence
- Leverage new technologies
Life insurance expertise
CGI has broad experience in implementing and managing large-scale life insurance transformation programs. We work with the industry’s leading software vendors, while remaining independent and objective in recommending the best solutions for our clients.
Our industry-certified experts not only understand and can perform virtually every aspect of a life insurance operation, but also offer the end-to-end IT and business process management services necessary to the ensure the success of core life insurance solutions.
Through our proven project management approach, we comply with the highest industry standards and consistently deliver on-time and on-budget. In addition, we offer flexible onshore, nearshore and offshore global delivery options.
Life insurance services
CGI delivers the services our life insurance clients need to address industry challenges, as well as their own distinct and evolving business needs. Our life insurance services include the following:
- Document management services
- Transformation services
- Policy administration
- Business process reengineering
- Insurance business intelligence for Europe and Canada
- Technology services