CGI Group Inc. (CGI) (NYSE: GIB; TSX: GIB.SV.A), a leading provider of end-to-end information technology and business processing services, is pleased to announce the signing of four contract renewals within the residual auto market. The contracts are valued at over US$13 million and are for terms of up to five years with clients located in New York, Delaware, Connecticut and Ohio. CGI will be providing their clients with solutions that provide online inquiry functions that provide faster access to policy, billing, commission, and cash information, enabling responsive customer service. The residual auto market provides insurance for high risk drivers. In addition, CGI continues to expand its residual market share by providing its personal and commercial assigned risk processing services to new carriers entering this unique market.
Karen Furtado, vice-president, Insurance Business Services of CGI said: "This highly specialized market is very complex. In partnering with residual market carriers, it is vital for us to have a deep understanding of our client's specific business needs as well as the intricacies of the rules and regulations by which our clients must adhere. Our processing systems are built upon our in-depth experience in insurance technology as well as the regulatory environment in which our clients must work. Essentially, we are providing them with cost-effective tools that help them better manage information that they need to make intelligent business decisions."
CGI's assigned risk solutions provide carriers with rating, policy issuance, statistical reporting, billing, and regulatory compliance services for assigned risk business in over 27 states. By partnering with CGI, companies can leverage their long-established services and solutions. This results in a carrier's ability to process business more effectively and enter new states within a very short time frame. CGI's quality commitment of delivering on time and on budget ensures our clients' continued success.
About CGI
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 India and Canada. CGI's annualized revenue run rate is currently CDN$3.8 billion (US$3.0 billion) and at June 30, 2005, CGI's order backlog was CDN$12.9 billion (US$10 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. For more information, please contact us at 1-800-433-2452, insurance@cgi.com, or www.cgi.com.
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Kirsten Paragona
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