Toronto, Canada- May 27/2003 – GeniSystems.ca Services (GeniSys), a market leading Business Process Outsourcing firm specializing in policy administration solutions for the life insurance industry, announces that CIBC Insurance has signed an agreement to begin utilizing GeniSys’ best-of-breed administration solutions to support initiatives for direct marketing of insurance products.
CIBC Insurance’s use of GeniSys’ front and back-office capabilities includes the following components:
- New business entry
- Certificate issue
- Premium billing, collection and accounting
- Call centre support
- Claims, and
- All customer fulfillment
“We are very pleased with the comprehensive services offered by GeniSys,” says Michael Perry, General Manager Marketing, CIBC Insurance. “Contracting out our policy administration allows us to focus on our core competency – marketing, while continuing to provide our clients with superior customer service.”
“We are pleased that CIBC Insurance has selected GeniSys to be their partner to process new insurance coverage’s and provide in-force policy management services. As a long-term partner we understand CIBC Insurance’s strategic objectives. This shared vision, combined with our proactive value-added approach to helping CIBC Insurance reach their objectives, forms a solid foundation for our partnership”, states Michael Nurse, Sr. V.P. of Business Development for GeniSys.
About CIBC Insurance
CIBC Insurance provides a wide range of creditor insurance on mortgages, personal loans, lines of credit, credit cards and small business and farm loans. CIBC Insurance also markets supplemental insurance including travel insurance, accidental death and hospital accident insurance. You can find other news releases and information about CIBC in our Media Centre on the Internet at www.cibc.com.
About GeniSystems.ca Services
GeniSystems.ca Services is an international provider of market leading front and back-office policy administration solutions for the individual and creditor life/health insurance market. Utilizing best-of -breed technologies, re-engineered processes, and experienced life insurance staff, GeniSystems is able to provide substantial cost-savings and increased efficiencies for end-to-end policy processing.
GeniSys’ outsourced solutions allows insurance carriers to:
- Limit new technology investments
- Alleviate onerous fixed-costs for application processing and policy administration
- Generate revenue by focusing on their core-competencies of marketing, distribution and sales
- Decrease time to market for new product initiatives
Founded in 2000, GeniSystems.ca Services is a privately held company headquartered in Canada. For more information please visit www.genisystems.ca.
