New agreement builds on 21-year relationship with focus on innovation to support ProductWriter clients’ evolving business needs.
Polaris is pleased to announce a seven year extension of its contract with CGI to provide consultancy and support for the ProductWriter rating and product definition tool-set; including the delivery of a new, hosted proposition – ProductWriter (PW) Cloud.
The new PW Cloud service will enable insurers, MGAs and broker platform providers to focus on innovation and speed to market, whilst at the same time, making ProductWriter even more accessible for new market entrants. The securely hosted Microsoft Azure cloud-based service will also simplify ProductWriter use and maintenance, especially for those clients who presently have multiple, different infrastructure environments. CGI will carry out all future software upgrades for PW Cloud clients as part of their existing Polaris agreement.
Martin McLachlan, Managing Director at Polaris said:
“CGI has continually delivered very high quality support for ProductWriter - which is vital to the UK insurance market and CGI’s very successful long term track record was a key factor in our decision to extend the contract. Our continuous development of ProductWriter, including PW Cloud, will help meet the changing and complex needs of our clients – some of whom have a considerable dependency on ProductWriter.”
Neil Sadler Vice President of Financial Services at CGI in the UK said:
“Our long-term partnership with Polaris has created an industry leading rating engine and product definition tool for the UK insurance market. The pressure on insurers to deliver new products quickly and to support rapid rate updates with full rating auditability continues to intensify and PW Cloud will offer a more agile, flexible environment.
CGI will continue to work with Polaris to build functionality that allows easy enrichment and rate updates without requiring complex third party integrations. These changes increase the rating accuracy with fine-grain underwriting capability and reductions in the time taken to get updates to market. CGI has already enabled the rating engine to use Artificial Intelligence (AI) to refine the rating calculations and, with future developments, will expand this capability”.
ProductWriter is the most widely used rating solution in the UK, supporting all business lines with some clients using it to provide over 80 million quotes daily. Even at such high volumes, these clients experience response times of less than 0.2 of a second, making ProductWriter the best performing underwriting and rating engine in the UK.
For more information
If you are looking at investing in a product definition tool and/or rating engine or or would like to know more about our ProductWriter Cloud development please email us