CGI, Universal Insurance ink US$45-75 million agreement

CGI Group Inc. has signed a seven-year, US$45-75 million agreement to provide Universal Insurance of North America 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.As part of the 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.”We’ve been extremely impressed with CGI’s expertise, professionalism, and service delivery,” Universal Insurance president Rick Espino said. “CGI’s team is strong from both a business and technical perspective and have approached our relationship as true partners.”CGI’s vice-president of 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.”