Keal Technology buys CGI broker system

In a bid to become a full-service technology provider to the insurance industry, Toronto-based Keal Technology announced it has bought the insurance brokerage management systems division of CGI. The move makes Keal one of the largest broker systems providers in Canada.

Keal is undaunted by the prospect of entering what some say is already a crowded market, says Chris Venn, vice president and director of business solutions for the company. “It’s not that we’ve added a new player [to the market],” he says, “we’re just taking over the reigns from CGI.”

The broker management system will be added to Keal’s existing hardware, software, networking, communications, training and support systems, with virtually all development and support staff from CGI making the move to Keal. A staff of 65 will serve the 700 clients using CGI’s systems, including TABS, Signassure and Visa. The scheduled fall release of version 5.0 of flagship product The Signassure is “100% on track”, adds Venn. And Keal will follow through on CGI’s plan to stop supporting the TABS system on December 31, 2002. TABS to NT agreements signed by CGI clients will be transferred to Keal. Venn says he has met with representatives of both TABS and Signassure user groups and has received a positive response. “They know we’re 100% committed to brokers.”

With the sale, CGI steps out of the broker market, but will continue to serve insurance companies, says Ronald White, director of investor and media relations for the Montreal-based company. White says the move will be beneficial for brokers, who will now get the “end-to-end spectrum of services” Keal offers.

Keal and CGI have had a good working relationship in the past, points out White. According to Venn, Keal’s interest in CGI was based in part on the fact that “most of our clients happened to be running on CGI products”. Previously Keal had provided a host of system supports, but did not own a broker management system. “Signassure is, in our opinion, the best on the market.” The two companies will also continue working together in a “preferred client-preferred supplier” relationship, he says.