Tampa, Florida, April 11, 2006 – CGI Group Inc. (CGI), is pleased to announce the signing of a seven-year agreement valued at between US$45 and $75 million, to provide Universal Insurance of North America, headquartered in Sarasota, Florida, with policy and accounting business process services (BPS). CGI will process Universal’s personal lines (book of business) including homeowners, dwelling-fire, auto, and umbrella in Texas and Florida. CGI will continue to support Universal�s business processing needs as they expand their services into new markets.
�We’ve been extremely impressed with CGI�s expertise, professionalism, and service delivery. CGI�s team is strong from both a business and technical perspective and have approached our relationship as true partners,� said Universal Insurance president, Rick Espino. �We are confident that as we grow, CGI will support our commitment to provide superior service to our agents and policyholders.�
Vice-president of CGI�s insurance business services, Karen Furtado added: �Universal is an amazing success story and we’re proud that they have chosen CGI to partner with them in the next phase of their business plan. In order to focus on core business strategies, mid-size insurers are partnering with BPS outsourcers like CGI. Outsourcing will give Universal the advantage of providing their partners and clients with best in class services, while capitalizing on the cost advantages generated by economies of scale.�
As part of this agreement, CGI will open a processing facility in Tampa to support Universal Insurance and other Florida-based insurance customers. CGI will initially be hiring 50 professionals and expects this center to grow to over 200 professionals over the next two years.
CGI�s Insurance Business Services provides end-to-end services across North America to the insurance industry, serving 75 of the top 100 insurers. CGI joins technology with the management of insurance products to include claims, underwriter, actuarial, loss prevention, targeting the property casualty insurance industry, life and health, and accident/sickness sectors. Over 4,300 CGI professionals serve the insurance sector.
Founded in 1976, CGI is the 8th largest independent IT services company in the world. CGI and its affiliated companies employ approximately 25,000 professionals. CGI provides end-to-end IT and business process services to clients worldwide from offices in Canada, the United States, Europe, Asia Pacific as well as from centers of excellence in United States, Europe, India and Canada. CGI�s annual revenue is currently CDN$3.7 billion (US$3.0 billion) and at September 30, 2005, CGI�s order backlog was CDN$12.9 billion (US$11.1 billion). CGI�s shares are listed on the TSX (GIB.SV.A) and the NYSE (GIB) and are included in the S&P/TSX Composite Index as well as the S&P/TSX Capped Information Technology and MidCap Indices. Website: www.cgi.com.