Andover, MA, August 29, 2007 – CGI Group, Inc. (TSX: GIB.A; NYSE: GIB), a leading provider of information technology and business process services, today announced that it has reached an agreement with The Commerce Group, Inc., the largest writer of private passenger automobile insurance in Massachusetts, to extend their personal and commercial automobile policy processing services agreement through December 31, 2011.
CGI has agreed to enhance the current insurance processing systems used by The Commerce Group, Inc. in Massachusetts, and to modernize those systems to enhance their capacity to compete in the Massachusetts marketplace. Both parties have agreed to enter into negotiations on a new long-term agreement by October of this year.
“We are pleased that our business relationship with CGI will be extended through the end of 2011, ensuring the continuity and outstanding level of service our agents and policyholders deserve in the changing Massachusetts auto insurance market,” said Gerald Fels, The Commerce Group, Inc.’s President, Chief Executive Officer and Chairman of the Board.
“CGI remains committed to providing The Commerce Group, Inc. with industry leading solutions and services,” said Paul Raymond, Senior Vice-President of the New England and Insurance Business Unit for CGI. “We look forward to expanding on this partnership, and continuing to win and grow together.”
About The Commerce Group, Inc.
The Commerce Group, Inc. is headquartered in Webster, Massachusetts. Property and casualty insurance subsidiaries include The Commerce Insurance Company and Citation Insurance Company in Massachusetts, Commerce West Insurance Company in California, American Commerce Insurance Company in Ohio, and State-Wide Insurance Company in New York. Through its subsidiaries’ combined insurance activities, the Company is ranked as the 20th largest personal automobile insurance group in the country by A.M. Best Company, based on 2006 direct written premium information. The Company and its insurance subsidiaries are rated A+ (Superior) by A.M. Best.
Founded in 1976, CGI Group Inc. is one of the largest independent information technology and business process services firms in the world. CGI and its affiliated companies employ approximately 25,500 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 North America, Europe and India. CGI’s annual revenue run rate stands at $3.7 billion (US$3.5 billion) and at June 30th, 2007, CGI’s order backlog was $12.4 billion (US$11.6 billion). CGI shares are listed on the TSX (GIB.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.Tags: Capgemini, Efma, InsurTech, World Insurance Report