CGI and Admiral pen five-year rating services contract
IT services and advisory firm CGI has landed another new contract in the first quarter of 2020, with the news it will provide services to insurance firm Admiral over the next five years. The move extends a partnership between CGI and Admiral which already spans 25 years.
From changing business models and cyber risk to change management, insurers face a myriad of changes in the coming years. Automotive insurers, for example, will have to contend with the increasing sophistication of self-driving cars – likely to radically alter the ownership and risks associated with vehicle use – among a number of other challenges. In this environment, insurers will need to be able to rely on their ever more complex IT systems for accurate and swift support.
To that end, Admiral, a leading provider of car insurance in the UK, has signed a new five-year contract with professional services firm CGI. The five-year deal will see CGI take its working relationship with Admiral to over 30 years. It will continue to provide the insurer with IT services, as well as use of its UK wing’s enterprise rating software, Ratabase, which is integrated with Admiral’s core policy administration system.
Paul Wishman, Director, Insurance Sector at CGI, commented, “While we’ve worked alongside Admiral since 1995, we’ve always had an annual rolling contract, and this is the first extended agreement we’ve signed. We’re thrilled to continue working closely with Admiral in helping to provide the high level of service their customers associate with the brand. Ratabase will continue to allow Admiral’s distribution channels to process millions of accurately priced transactions every day.”
CGI’s enterprise rating solution for vehicle and household insurance is a modular integration platform which provides insurers, managing general agents brokers, agents, data providers and other industry organisations the ability to control distribution and data enrichment in pricing, risk assessment and underwriting processes. According to CGI, the Ratabase system has the most extensive installation base of any such solution in the industry, with more than 100 client implementations across all lines of business in the property and casualty, life and accident areas.
Rhodri Charles, Head of UK Motor Pricing & Analytics at Admiral, stated, “Ratabase is central to allowing us to offer our customers the best insurance for them and we are pleased to extend our contract with CGI. As a business, they work incredibly closely with us to address our needs, especially for technical functionality and innovation in pricing and underwriting. It’s been a highly collaborative working partnership, and everyone at Admiral is keen to continue being able to draw upon CGI’s expertise, professionalism and technical innovation.”
Earlier in the year, CGI also extended its relationship with house builder Taylor Wimpey to supply managed IT services. The partnership currently spans 15 years, and its continuation will see CGI help its client accelerate its digitisation programme. The firm also signed a new contract with the European Space agency to deliver a specialised 5G tool-kit for its satellite networks.
