Fairfax, Virginia, June 1, 2018 – CGI (NYSE: GIB) (TSX: GIB.A) today announced that CGI and OneShield Software will integrate their products into a managed services platform for insurance clients, combining the capabilities of CGI’s Ratabase® with OneShield along with CGI’s secure global infrastructure and change management services. The platform leverages pre-built APIs, micro-services, pre-existing content, features and functions. It also improves response time to introduce innovation; reduces operating costs; and minimizes risk for carriers seeking to navigate market changes.
CGI’s Ratabase Suite was developed for carriers who are at a crossroads with their legacy systems and the demands for product innovation. The platform with OneShield is an option for carriers who do not want to invest in replacing systems with the typical build-to-order core system options available today.
“With this platform, CGI helps to future-proof our clients’ investments and disrupt the legacy costs that plague carriers’ results,” said Bill Budde, CGI’s Director of Insurance Solutions. “Our goal is to provide a consumable pricing approach for adding insurance processing services that meet the needs of carriers today and support them as they move to a digital business model in the future.”
“There is increased interest from insurers to adopt an eco-system of platform-based technologies to better service their ever evolving business needs,” stated OneShield President and CEO, Glenn Anschutz. “Insurers see an opportunity to rid themselves of legacy constraints and embrace a model that not only contemplates business disruptors, it adapts to continuously changing technologies. We welcome the opportunity to partner with CGI’s insurance experts to simplify our customers’ core system strategies.”
About CGI’s Ratabase Suite
Ratabase Suite is a web-based, services-oriented, insurance platform that features an end-to-end modular architecture for managing and processing the entire policy life cycle. It is a common base for all core components and functions. Powered with Ratabase, the world’s leading rating engine, Ratabase Suite allows insurance companies to plug in capabilities as their business and industry grows in order to stay ahead of the competition.
About CGI Founded in 1976, CGI is the fifth largest independent IT and business consulting services firm in the world. With approximately 72,500 professionals worldwide, CGI delivers an end-to-end portfolio of high-end IT and business consulting services, systems integration and IT and business process outsourcing services. CGI’s client proximity model, best-fit global delivery network, and intellectual property solutions help clients accelerate results and digitally transform their organizations. With annual revenue of C$10.8 billion, CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Website: cgi.com.
OneShield Software delivers core business software solutions to the global insurance and broader financial services industry, deployed in the cloud or on-premise. Our portfolio of standalone, subscription and cloud based software products include enterprise-class policy management, billing, claims, rating, product configuration, business intelligence, and analytics solutions that leverage a tool-based open architecture and single data model platform to streamline your business. OneShield Software automates and simplifies the complexities of core systems with targeted solutions, seamless upgrades, collaborative implementations, and lower total cost of ownership. With corporate headquarters in Marlborough, MA and offices in India, Canada, and Australia, OneShield, Inc. has a total of 50 products in production across the P&C, life and health insurance markets. Website: www.OneShield.com
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