Montreal, July 13, 2001 – The
Economical Insurance Group, one of the largest property and casualty insurers in Canada,
and CGI today announced the signing of a multi-million dollar contract whereby Economical
will implement CGI’s enterprise-wide insurance solution, GIOS (Global Insurance Open
Solution), as well as Ratabase, CGI’s rating and scoring engine. As part of this
agreement, CGI will provide knowledge transfer, consulting and maintenance services for
both solutions and assist in their implemen Open Sotation.
Economical is the second leading insurer in
Canada to implement GIOS as its strategic automation solution. Economical will replace its
legacy policy and claims management system with CGI’s insurance solutions, which will
be used to manage all back office processes.
“In replacing our legacy systems, we
wanted to introduce more flexibility in the way we create business solutions, while
bringing these solutions to market more quickly,” said Noel Walpole, president and
CEO of Economical. “Ultimately we wanted to deliver new, value added services to our
brokers and end consumers. By implementing GIOS, we will unify and simplify our entire
development and automation process. We believe that GIOS is the right technology platform,
and CGI the right technology partner to help us to deliver our ultimate vision.”
Mike Roach, CGI’s president, Canada and
Europe added: “We are extremely pleased that Economical has selected GIOS, and more
importantly CGI, to help with their exciting new business and IT transformation process.
We have a competent and skilled team of insurance and technology professionals positioned
with the right combination of experience and leading-edge skills to help our new partner succeed.”
With a strong foothold in the financial
services market, and a vertical market business unit exclusively devoted to the Canadian
property and casualty insurance market, CGI focuses on providing value added solutions
that streamline the underwriting and claims automation process. Implementing GIOS helps
companies by speeding claim resolution, and improving underwriting accuracy, relying on a
customer-centric core to deliver handling efficiencies. CGI’s Ratabase rating and
scoring engine significantly reduces the time required to develop and support the rating process.
The Economical Insurance Group, founded in
Waterloo, Ontario in 1871, is one of the largest property and casualty insurers in Canada
with $1 billion in premium volume and $2.1 billion in assets. This Canadian-owned company
serves customers’ needs through branches and service offices across the country. Members
of The Group are Economical Mutual Insurance Company (including the Western General Farm
Division), Langdon Insurance Company, Waterloo Insurance Company, Perth Insurance Company,
The Missisquoi Insurance Company and Federation Insurance Company of Canada.
Founded in 1976, CGI is the fifth largest
independent information technology services firm in North America, based on its headcount
of more than 10,000 professionals. CGI’s order backlog totals approximately US$5.3
billion (CDN$8.2 billion) and its revenue run-rate is close to US$1 billion (CDN$1.5
billion). CGI provides end-to-end IT services and business solutions to 2,500 clients in
the United States, Canada and more than 20 countries around the world. CGI’s shares
are listed on the NYSE (GIB), as well as on the TSE (GIB.A). They are included in the
Toronto Stock Exchange’s TSE 300 index as well as the S&P/TSE Canadian
Information Technology index. Web site: www.cgi.ca.
All statements in this press release that do
not directly and exclusively relate to historical facts constitute “forward-looking
statements” within the meaning of the Private Securities Litigation Reform Act of
1995. These statements represent CGI Group Inc.’s intentions, plans, expectations,
and beliefs, and are subject to risks, uncertainties, and other factors, of which many are
beyond the control of the Company. These factors could cause actual results to differ
materially from such forward-looking statements.
These factors include and are not restricted
to the timing and size of contracts, acquisitions and other corporate developments; the
ability to attract and retain qualified employees; market competition in the
rapidly-evolving information technology industry; general economic and business
conditions; and other risks identified in Management’s Discussion and Analysis
(MD&A) in CGI Group Inc.’s annual report or Form 40F filed with the U.S.
Securities & Exchange Commission and the Company’s Annual Information Form filed
with Canadian securities commissions. All of the risk factors included in these filed
documents are included here by reference. CGI disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a result of new information,
future events or otherwise.
For more information:
Director, investor relations, CGI
Director, media relations, CGI