Standard Insurance Company (“The Standard”) has selected CGI Group Inc. (CGI) (TSX: GIB.SV.A; NYSE: GIB) to build a new policy administration system for its employee benefits division. The technology, known as FlexInsure, combines all aspects of policy administration into a single system. Standard Insurance Company (“The Standard”) has selected CGI Group Inc. (CGI) (TSX: GIB.SV.A; NYSE: GIB) to build a new policy administration system for its employee benefits division. The technology, known as FlexInsure, combines all aspects of policy administration into a single system. FlexInsure reduces manual data entry and integrates billing and contract management from multiple systems, thereby providing easier access to data for increasing functionality.
The FlexInsure solution, co-developed by CGI and Wyde Corporation, is configured using data parameters to drive system changes, without requiring reprogramming. Removing the need for time consuming hard-coded programming will allow The Standard to be more responsive to market opportunities, reduce product development time and simplify complex and costly regulatory implementation efforts.
“We are committed to continually improving processes and tools to enhance our ability to provide exceptional service to customers,” said Marty Klinkhammer, regional vice president of National Accounts for The Standard. “FlexInsure provides technology that will enable us to achieve operating efficiencies and continue to provide an excellent service experience as our business grows.”
The fully supported, customized solution provided by CGI includes a powerful rules and rating engine able to handle complex underwriting formulas and principles, facilitating more timely customized services for policyholders, insured members and producers.
CGI has more than 27 years of experience providing industry-leading services to more than 800 insurance clients in the U.S. , Canada and Europe . CGI provides a range of consulting, systems integration, and information technology and business process managed services to help insurance companies respond to market changes, improve claims processing, manage their underwriting and rating processes, control costs and improve customer satisfaction and retention.
About StanCorp Financial Group, Inc.
StanCorp Financial Group, Inc., through its wholly owned subsidiaries - Standard Insurance Company and The Standard Life Insurance Company of New York - is a leading provider of employee benefits products and services. StanCorp's subsidiaries serve customers nationwide with group and individual disability insurance and retirement products, and group life and dental insurance with almost 30,000 group insurance policies in force covering over 6.5 million employees as of September 30, 2004 . For more information about StanCorp Financial Group, Inc., visit its Web site at www.stancorpfinancial.com.
Founded in 1976, CGI is among the largest independent information technology and business process services firms in North America . 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 Canada, the US, Europe and India. CGI's annualized revenue run-rate is currently CDN$3.8 billion (US$3.2 billion) and at September 30, 2004 , CGI's order backlog was CDN$13.0 billion (US$10.8 billion). CGI's shares are listed on the TSX (GIB.SV.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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Director, corporate communications