CGI has successfully implemented ProductWriter, the leading product development and rating software from Polaris, the UK insurance industry body, as a cloud-based service.
This innovation follows a 23 year strong relationship with Polaris, during which CGI built and developed ProductWriter to become the top performing underwriting and rating engine in the UK. ProductWriter is used by over 80 personal and commercial lines insurers and MGAs (managing general agents), and delivers millions of online quotes based on automated complex pricing decisions every day.
CGI’s solution has allowed ProductWriter to move to a secure, encrypted, cloud-based service on Microsoft Azure. Previously, the software had to be installed locally on the computers of the underwriters and ProductWriter users. Now in the Cloud, the software can be updated more frequently with a significantly reduced reliance on clients’ resources and infrastructure. This platform will also make it easier for start-ups and smaller firms to access the full benefits of the software.
The latest release significantly increases the number of external rating files that underwriters can refer to without having to alter their core rating software. It will also facilitate pricing and underwriting teams to work together more closely, giving underwriters greater flexibility and speed for testing new products and ratings down to an individual rule level.
Neil Sadler, Senior Vice President of Financial Services for CGI in the UK said: “Releasing ProductWriter into the Cloud will provide a more agile, flexible environment for the UK insurance industry and will ensure this continues to be the leading rating solution. We look forward to further strengthening our long-term relationship with key industry body Polaris, helping them to continue to innovate and remain fit for the future.
Based on over 1500 face-to-face interviews with business and technology leaders across industries, the 2019 CGI Client Global Insights revealed that within the insurance industry ‘fast-shifting consumer product and digital servicing expectations’ was one of the top business priorities. Moving ProductWriter to the cloud is an example of CGI helping Polaris to provide an improved digital customer experience.”
Vivek Banga, Managing Director at Polaris, said: “ProductWriter is the most widely used insurance rating software in the industry and it is imperative that we keep evolving it for the benefit of our customers. We are seeing a clear focus on speed and scalability within our client organisations and that is what our cloud-based service has focused upon. Our clients can continue to expect more enhancements in the near future. We are also grateful to our user community that works closely with us to enhance ProductWriter.”