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PARIS, July 3, 2024
/PRNewswire/ - CGI (TSX: GIB.A) (NYSE: GIB), one of the world's
largest business and IT consulting services firms, is partnering
with Risk Management Partners, a unit of Munich Re, the world's
leading reinsurer, to help insurers reduce claims, increase
profits, and drive long-term value through climate risk
mitigation.
This partnership will combine Munich Re's Location Risk
Intelligence Platform with CGI's climate risk mitigation offerings
to help insurers minimize the impact of climate change on their
business models and profitability. Faced with increasing claims,
insurers must deal with climate-related risks and challenges, all
within an ever-changing and complex regulatory framework.
"CGI has developed a broad range of offerings focused on
monitoring and helping insurers anticipate and address the impacts
of climate change, from assessing risks and damage from natural
events to implementing practical strategies that turn potential
risks into strategic advantage," said Benoit Leboucher, Senior Vice-President
Consulting Services at CGI. "This collaboration will contribute to
a more sustainable, resilient and profitable insurance industry,
notably as we help insurers manage, measure and create visibility
on the outcomes of their initiatives."
Through the partnership, insurers can access rich decision
support data to advance their risk management policies and
practices, enabling better decision-making, such as:
- Pricing adaptations that are more closely aligned to the claims
experience;
- Identification of main risk concentrations based on granular
location assessments;
- Key performance indicators for each customer based on climate
impact models and measurements; and
- Risk mitigations related to natural hazards and climate change
across the globe.
"We are delighted to join forces with CGI in helping insurers
address increasing climate risks," said Christof Reinert, Head of Risk Management
Partners at Munich Re. "Climate change and the need to drive
forward sustainability actions will continue to grow in importance,
and insurers are looking for proven expertise and innovative
solutions to respond to these trends. Our combined offering will
deliver the comprehensive climate risk mitigation capabilities
insurers need."
CGI will also manage the delivery of Munich Re's Location Risk
Intelligence solution to insurers, covering every stage of
implementation—from needs analysis to change management.
Overall, with the industry and technology expertise and the
consulting support of CGI as part of the combined offering,
insurers will integrate climate impact into their risk management
and decision-making, spend less time and effort collecting climate
risk data from multiple sources, produce ready-to-use and
customizable climate risk reports, and improve their customer
experience and competitiveness.
About CGI's Sustainability and ESG Advisory services
CGI's portfolio of proven Sustainability & ESG
Advisory services enables clients to advance and balance
collective sustainability and financial growth. The company's
proven design, engineering and operating experience for critical
enterprise solutions, along with a deep understanding of
industries, ecosystems, supply chains and global interconnectedness
helps clients map the way forward with confidence, embedding
sustainability into their operations and realizing long-term
business value. For the insurance industry, CGI's sustainability
and climate risk mitigation offerings focus on prevention, data
management and change management practices, helping both insurers
and their customers prevent and mitigate risk.
About CGI
Founded in 1976, CGI is among the largest independent IT and
business consulting services firms in the world. With 90,000
consultants and professionals across the globe, CGI delivers an
end-to-end portfolio of capabilities, from strategic IT and
business consulting to systems integration, managed IT and business
process services and intellectual property solutions. CGI works
with clients through a local relationship model complemented by a
global delivery network that helps clients digitally transform
their organizations and accelerate results. CGI Fiscal 2023
reported revenue is CA$14.30 billion and CGI shares are listed on
the TSX (GIB.A) and the NYSE (GIB). Learn more at
CGI.com.
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content:https://www.prnewswire.com/news-releases/cgi-collaborates-with-munich-res-risk-management-partners-to-help-insurers-reduce-claims-and-increase-profits-through-climate-risk-mitigation-302188654.html
SOURCE CGI Inc.