CGI (TSX: GIB.A) (NYSE: GIB) today announced that it has joined forces with Baseline Telematics, a provider of usage-based insurance (UBI) solutions, to integrate Baseline’s end-to-end UBI platform with CGI’s industry-leading Ratabase rating engine.
Baseline Telematics’ UBI platform helps insurers quickly bring to market usage-based products for their customers, such as pay-as-you-drive auto insurance programs. A smartphone app or a small device plugged into a policyholder’s car provides real-time information on location, mileage, speed, sudden acceleration, braking, etc. to insurers, enabling them to rate and invoice insurance policies on a variable monthly basis, depending on usage and driving safety.
By integrating the platform with Ratabase, current Ratabase clients will benefit from a cost-effective telematics solution that enhances their existing rating models. In addition, existing and new clients of Baseline Telematics will have access to Ratabase within their UBI platform.
Baseline Telmatics’ technology already is being used successfully, often in conjunction with Ratabase, for both car and motorcycle insurance in Canada, as well as in many international markets, such as France, Norway, the U.S. and several Latin American countries. There also have been trials and implementations for government insurers, commercial fleet insurers, driving schools and graduated drivers licensing programs.
“With insurers and policyholders rapidly embracing new technologies and looking for smart ways to reduce costs, UBI solutions will be an important trend over the next decade,” said Paul-André Savoie, President and CEO of Baseline Telematics. “We’re beginning to see massive consumer adoption of pay-as-you-drive insurance in Canada and the U.S. Although UBI policies currently account for less than one percent of the global automobile insurance market, this figure is set to increase dramatically in the coming years. Ratabase is a powerful and logical choice for extending our UBI platform.”
"The name of the game for insurers has always been about determining the right price at which they can accept the risks of their policyholders,” said CGI’s Jamie Rodgers, Vice-President, Global Insurance. “With the Internet of Things and a new universe of associated data that can be used to calculate price, leading insurers are placing product strategy and management at the top of their priority lists. Baseline Telematics’ platform combined with Ratabase in the cloud provides insurers with a robust and simple to use solution that addresses IoT data and product management simultaneously.”
As part of their alliance, Baseline Telematics and CGI will continue to work together to develop solutions for insurers that allow them to strategically and tactically take advantage of the increasingly interconnected world of things and people.
Founded in 1976, CGI Group Inc. is the fifth largest independent information technology and business process services firm in the world. Approximately 68,000 professionals serve thousands of global clients from offices and delivery centers across the Americas, Europe and Asia Pacific, leveraging a comprehensive portfolio of services including high-end business and IT consulting, systems integration, application development and maintenance, infrastructure management as well as a wide range of proprietary solutions. With annualized revenue in excess of C$10 billion and an order backlog of C$20 billion, CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Website: www.cgi.com
About Baseline Telematics
Since 2009, Baseline has been a world leading provider of telematics based insurance platforms, and offers one of the most comprehensive and modular solutions on the market today. Beyond the technology, we’re a passionate team entirely focused on helping insurers around the world transform themselves beyond traditional paradigms, allowing them to design and deliver the most innovative, valuable, customer centric and cost effective telematics based insurance programs. Leveraging our highly recognised technology (Celent Innovation Award, Gartner Research), our team and our global partnerships, we’re dedicated to helping our clients creatively and cost effectively discover and leverage telematics in a way which is specific to their own strategic objectives and local business and market conditions. Website: www.baselinetelematics.com
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