CGI (NYSE: GIB) (TSX: GIB.A) today announced it has received multiple Celent awards for its Ratabase insurance rating engine, the industry's leading insurance rating and underwriting software, available across all Personal and Commercial lines of business in all 50 states.
Celent is a leading research and consulting firm focused on the application of information technology to the financial services industry. Celent reviewed and ranked rating engines in a report titled, ‘North American Ratings Engines: 2016 Property & Casualty ABCD Vendor View’ August 30, 2016. The analyst made its XCelent awards in four categories, and CGI Ratabase received an award in three of the four categories: Customer Base, Depth of Client Services and Breadth of Functionality.
“It is rare for a vendor to receive an XCelent award, and rarer still for a vendor to win more than one award. CGI’s Ratabase product won an unprecedented three XCelent awards in this year’s review of rating engines,” said Karlyn Carnahan, Research Director for Property Casualty and author of the report. “CGI has a very well established product and has clearly been listening to its customers as many of the changes seen in the most recent release address specific requests from customers in the past.”
“With more than 100 carriers now using the CGI Ratabase rating engine, we are gratified to receive this additional recognition by Celent. These rewards validate the feedback we hear from our clients as part of our Global 1000, an annual outlook conducted by CGI through in-person conversations with business and technology leaders in 10 industries and 20 countries,” said Billy McCarter, Vice President, CGI. “The insurance industry has become hyper-competitive, and Ratabase gives today’s property and casualty companies the edge. With capabilities to assist insurance carriers in transforming their legacy solutions to meet the dynamic rating and pricing requirements of a digital insurer, Ratabase helps companies transform to meet the needs of today’s digital world.”
CGI Ratabase is a comprehensive set of powerful rating and product configuration tools for the build, design and release of personal, commercial and speciality lines insurance products in the fastest time possible. CGI’s Ratabase installations handle more than 15 million transactions and information products delivered annually as part of core underwriting processes. CGI has nearly 1,500 members dedicated to insurance IT outsourcing and application management services globally.
Founded in 1976, CGI Group Inc. is the fifth largest independent information technology and business process services firm in the world. Approximately 65,000 professionals serve thousands of global clients from offices and delivery centers across the Americas, Europe and Asia Pacific, leveraging a comprehensive portfolio of services, including high-end business and IT consulting, systems integration, application development and maintenance and infrastructure management, as well as 150 IP-based services and solutions. With annual revenue in excess of C$10 billion and an order backlog exceeding C$20 billion, CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Website: www.cgi.com.
About the CGI Global 1000
The CGI Global 1000 outlook is conducted annually as a series of forward-looking conversations between CGI consultants and senior business and technology executives in commercial and government organizations. Through these discussions, executives share their perspectives on the trends impacting their organizations and how they plan to address the challenges and opportunities through their business and technology priorities and plans. In 2016, CGI professionals interviewed more than 1,000 executives in 10 industries and 20 countries, including in-depth discussions about digital transformation and cybersecurity. For more information about the CGI Global 1000, or to request a meeting to discuss its global, industry or regional insights, visit www.cgi.com/global1000.
For more information:
Vice President, U.S. Communications
Vice-President, Insurance Solutions