Stock Market Symbols
GIB.A (TSX)
GIB (NYSE)
www.cgi.com/newsroom
TORONTO, May 20, 2015 /PRNewswire/ - CGI (TSX: GIB.A)
(NYSE: GIB) today announced that it has joined forces with Baseline
Telematics, a provider of usage-based insurance (UBI) solutions, to
integrate Baseline's end-to-end UBI platform with CGI's
industry-leading Ratabase rating engine.
Baseline Telematics' UBI platform helps insurers quickly bring
to market usage-based products for their customers, such as
pay-as-you-drive auto insurance programs. A smartphone app or a
small device plugged into a policyholder's car provides real-time
information on location, mileage, speed, sudden acceleration,
braking, etc. to insurers, enabling them to rate and invoice
insurance policies on a variable monthly basis, depending on usage
and driving safety.
By integrating the platform with Ratabase, current Ratabase
clients will benefit from a cost-effective telematics solution that
enhances their existing rating models. In addition, existing and
new clients of Baseline Telematics will have access to Ratabase
within their UBI platform.
Baseline Telmatics' technology already is being used
successfully, often in conjunction with Ratabase, for both car and
motorcycle insurance in Canada, as
well as in many international markets, such as France, Norway, the U.S. and several Latin American
countries. There also have been trials and implementations for
government insurers, commercial fleet insurers, driving schools and
graduated drivers licensing programs.
"With insurers and policyholders rapidly embracing new
technologies and looking for smart ways to reduce costs, UBI
solutions will be an important trend over the next decade," said
Paul-André Savoie, President and CEO of Baseline Telematics. "We're
beginning to see massive consumer adoption of pay-as-you-drive
insurance in Canada and the
U.S. Although UBI policies currently account for less than
one percent of the global automobile insurance market, this figure
is set to increase dramatically in the coming years. Ratabase is a
powerful and logical choice for extending our UBI platform."
"The name of the game for insurers has always been about
determining the right price at which they can accept the risks of
their policyholders," said CGI's Jamie
Rodgers, Vice-President, Global Insurance. "With the
Internet of Things and a new universe of associated data that can
be used to calculate price, leading insurers are placing product
strategy and management at the top of their priority lists.
Baseline Telematics' platform combined with Ratabase in the cloud
provides insurers with a robust and simple to use solution that
addresses IoT data and product management simultaneously."
As part of their alliance, Baseline Telematics and CGI will
continue to work together to develop solutions for insurers that
allow them to strategically and tactically take advantage of the
increasingly interconnected world of things and people.
About CGI
Founded in 1976, CGI Group Inc. is the fifth
largest independent information technology and business process
services firm in the world. Approximately 68,000 professionals
serve thousands of global clients from offices and delivery centers
across the Americas, Europe and
Asia Pacific, leveraging a
comprehensive portfolio of services including high-end business and
IT consulting, systems integration, application development and
maintenance, infrastructure management as well as a wide range of
proprietary solutions. With annualized revenue in excess of
C$10 billion and an order backlog of
C$20 billion, CGI shares are listed on the TSX (GIB.A) and the
NYSE (GIB). Website: www.cgi.com
About Baseline Telematics
Since 2009, Baseline has
been a world leading provider of telematics based insurance
platforms, and offers one of the most comprehensive and modular
solutions on the market today. Beyond the technology, we're a
passionate team entirely focused on helping insurers around the
world transform themselves beyond traditional paradigms, allowing
them to design and deliver the most innovative, valuable, customer
centric and cost effective telematics based insurance programs.
Leveraging our highly recognised technology (Celent Innovation
Award, Gartner Research), our team and our global partnerships,
we're dedicated to helping our clients creatively and cost
effectively discover and leverage telematics in a way which is
specific to their own strategic objectives and local business and
market conditions.
Website: www.baselinetelematics.com
SOURCE CGI Group Inc.