Improving customer service and cutting costs. That is what CGI, the fourth largest independent IT services firm in North America, is helping insurance companies to achieve through its launch of Global Insurance Open Solution (GIOS) into the US market.
Bo Ingemarson, CEO of If Skadeförsäkring AB (publ) (If), the Nordic-based insurance company, said, “As we moved into the 21st century, it became necessary to replace our legacy systems with one unified, Web-enabled solution which would be able to provide us with real flexibility. GIOS will simultaneously unify and simplify our entire administrative processes, for example, reducing the time spent handling claims settlements. We are now confident that we will be able to respond to the fast-moving challenges of our industry.”
What Is GIOS
CGI’s Global Insurance Open Solution (GIOS) is a highly customizable enterprise-wide solution that allows insurance companies to automate insurance functions, support a wide range of products, leverage new or existing IT resources to better meet business objectives and respond to competitive market conditions. The solution links disparate legacy systems, enabling insurance companies to improve the efficiency of their administrative processes, including policy and quotations management, distribution, claims management and accounting. In addition, it ties together a customer’s insurance interactions to create a complete view, enabling insurers to improve customer service and cross-sell products.
“GIOS is a massively scalable solution. It is one of the only integrated systems for both life & health and property & casualty policies, and it has strong international experience,” Celent Communications’ October 2001 report on Profiling the Vendors of Web-Enables Policy Administration Systems.
CGI is stepping up to market need in helping insurers become more effective therefore competitive. Vincent A. Oliva, vice-president & research group director, Financial Services, Gartner Inc. says: “Insurers are becoming serious about CRM, and considering component-based solutions to automate and integrate their core operations while optimizing past investments in legacy systems.”
Main benefits
- Leverage the Internet to enhance customer, partner and employee relationships
- Eliminate duplication and cut costs through centralized systems and processes
- Optimize benefits of merger and acquisition activities
- Enhance or replace existing legacy systems without business disruption
- Create holistic view of each customer
Terry Broom, senior vice-president Eastern USA and sector leader financial services of CGI added: “To have a tailor-made, one stop-shop solution that is customer-centric, expandable and easily integrated, means insurers can focus on what they do best. We are confident that, through our partnership, we can assist insurers in growing their business.”
About CGI
Founded in 1976, CGI is the fourth largest independent information technology services firm in North America, based on its headcount of 13,700 professionals. CGI’s annualized revenue run-rate totals US$1.3 billion. CGI’s order backlog currently totals US$6.7 billion. CGI provides end-to-end IT services and business solutions to more than 3,000 clients worldwide from more than 60 offices. CGI’s shares are listed on the NYSE (GIB) and the TSX (GIB.A). Website: www.cgi.com.
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