West Bend Mutual Insurance Company, located in West Bend, Wisconsin, offering property/casualty insurance for businesses, homes, autos, and personal property, has selected CGI Group Inc. (CGI) to implement its insurance rating solution Ratabase®. Through this agreement, Ratabase will be used to rate personal and commercial insurance in the six states where West Bend does business.
Ratabase, CGI's Rate & Rules Management Tool Suite, is the industry's leading insurance rating solution being used in more than 100 carriers worldwide since 1983. Ratabase provides a comprehensive, cost-effective solution that allows insurance experts within a carrier to rapidly develop and deploy insurance products in any application on any platform.
"We are excited to work with CGI to implement Ratabase. After looking at the available solutions in the market, it became clear that Ratabase was the solution of choice. It became clear from talking directly with many existing Ratabase clients, that CGI was a quality solution provider and partner and that Ratabase was allowing them to deliver insurance products more rapidly and at a lower cost," said Amy Buechel, Vice President IT, West Bend.
David Squibb, Business Development Director with CGI added: "We are pleased to welcome West Bend as a new client and feel confident that CGI's experience of implementing the Ratabase solution will allow West Bend to achieve their goal of having one integrated rating service that can be accessed from any application for rating and automated underwriting. This will ultimately allow them to build their insurance products once and deploy them wherever they need them."
Ratabase is a powerful and flexible software productivity tool suite designed to enable business experts within insurance carriers to develop the algorithms, rate tables, and logic for insurance rating and automated underwriting applications. This logic can be built once and deployed to any application(s) on any platform(s). By empowering the business experts within a carrier to rapidly deploy insurance products, costs are significantly reduced for both system development and maintenance. Ratabase can be utilized in a new development effort or can be retrofitted into existing company developed or vendor supplied systems.
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$2.8 billion) and at June 30, 2004, CGI's order backlog was CDN$13.2 billion (US$9.8 billion). CGI's shares are listed on the TSX (GIB.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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