The news
Holyoke Mutual Insurance Company (Holyoke) of Salem, Massachusetts, has selected information technology leader CGI Group Inc. (CGI) to partner with for the outsourcing of policy administration processing services, including expert underwriting and the implementation of CollaborativeEdge, a CGI-built solution that facilitates straight through processing from the point of service - the insurance agency. The implementation will include the automated conversion of policies from the client's current system over a 12-month roll-on period.
"We have several IT projects underway, in addition to the outsourcing of our Massachusetts Automobile services, currently being maintained in-house. CGI is very close to the insurance regulatory environment and has a proven solution that allowed us to move forward with an aggressive implementation date," said Peggy Batchelder, Vice-President, Information Systems for Holyoke. "Our agents are very excited about the benefits of using CollaborativeEdge. That provides multiple advantages for us as well."
Solution descriptions
Karen Furtado, Vice-President, Insurance Management Services for CGI added "We are very pleased about partnering with Holyoke. We feel strongly that our solutions coupled with our project management and experience serving this market will make a real difference in contributing to our client's bottom line. Our partnership management framework marries nicely with that of our clients."
Collaborative Edge serves more than 1,400 agents, processing more than one million transactions per month. CollaborativeEdge supports insurance companies and their agents as they meet industry challenges, remain profitable in a competitive environment, and provide extraordinary customer service by allowing the seamless integration of vital information from various data sources, including: agency management systems, carriers' policy administration systems, and industry databases.
Insurance Management Services - CGI's unique combination of IT expertise, use of industry best practices and history of consistent, high-quality rate implementations has earned the respect of over 30 carriers who use its applications to process over 50% of the automobile policies written in the Commonwealth of Massachusetts. For over 30 years, CGI's Insurance Management Services has met the challenges of the Massachusetts regulatory environment head-on, relieving companies of the need to maintain separate systems to satisfy the unique automobile insurance requirements.
About Holyoke
Founded in 1843, Holyoke provides coverage for insured in seven states, including all of New England and New York. Holyoke is a member of the Country Insurance and Financial Services property/casualty group, maintaining an A+ (Superior) rating from A.M. Best.
About CGI
Founded in 1976, CGI is the fourth largest independent information technology services firm in North America, based on its headcount. CGI and its affiliated companies employ more than 21,000 professionals. CGI's annualized revenue run-rate is $2 billion and at December 31, 2002, CGI's order backlog was US$6.8 billion. CGI provides end-to-end IT and business process services to more than 3,500 clients worldwide from offices in Canada, United States and Europe. CGI's shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in the TSX 100 Composite Index as well as the S&P/TSX Canadian Information Technology and Canadian MidCap Indices.
Website: www.cgi.com
– 30 –
For further information contact:
Karen Furtado at (978) 946-3011
For media inquiries contact:
Kirsten Paragona at (978) 946-3124
