CGI has developed IP to transform the way insurers price, enhance and distribute products with our innovative integration platform.
Change is the only constant in the general insurance market, and the pace of change is increasing with digital distribution, artificial intelligence and the entrance of agile new competitors creating a rapidly changing competitive landscape. Now, more than ever, insurers need to leverage agile platforms that enable them to take advantage of the changing landscape.
We are a part of your industry’s infrastructure, providing pricing and rating services to more than 90 per cent of the general insurance market. We work with seven of the top ten UK insurers, along with another 160 insurance clients worldwide.
We pride ourselves on our overall customer experience and our ability to deliver infrastructure solutions that add value to your business.
CGI IMM is a secure cloud hosted platform giving any organisation (insurers, brokers, MGA) a single solution to manage and control their products across multiple distribution channels. Features include:
- Simplify – Out of the box connection with multiple distribution channels, data enhancement services and rating engines. Access internal data sources and systems within one platform, to support all distribution channels.
- Insight – Visibility across all quote data flowing from your various distribution channels, with real team MI and analytics. Enrich your risk data with third party data services and embed artificial intelligence and machine learning algorithms to improve risk selection.
- Reaction – Rating and Pricing teams have the autonomy and tools to test and release new rates to all channels without the need for IT involvement. In-line orchestration rules allow real-time control of champion/challenger models, risk selection, identifying fraud and managing capacity.
- Value – Through a “release once, deploy to many” approach, improve operating and support costs by around 30% by rationalising rating model instances and removing the cost of IT support. Use caching and intelligent orchestration to optimise the use of data enrichment services.
Our solution architecture, implementation method and delivery record mean that CGI’s Insurer Hub can be in production, processing quotes for you in less than three months.
If you would like to discuss CGI’s Insurer Hub, please get in touch with our insurance expert Andy Searle.