CGI Launches Fraud Detection Service for the Insurance Industry, Solution Powered by SAS
November 04 2011 - 8:31AM
Marketwired
CGI Group Inc. (TSX:GIB.A) (NYSE:GIB), a leading provider of
information technology and business process services, today
announced a new, state-of-the-art, comprehensive service to assist
Canadian property and casualty insurers in their fight against
insurance fraud. CGI's fraud detection solution, powered by SAS,
responds to this growing challenge.
"There is no question that auto insurance fraud is an
increasingly sophisticated crime," said Doug McCuaig, President,
Canada, CGI. "Together with SAS, CGI is supporting the insurance
industry in its effort to stay well ahead of fraud by providing
insurance companies with access to comprehensive, timely and
reliable data."
"It is truly staggering the extent to which crime rings are at
the heart of auto insurance fraud in Canada," said Carl Farrell,
Executive Vice-President, SAS Americas. "This alliance will combine
cutting-edge technology with rich historical data to give Canada's
insurers a more accurate picture of fraud and the crime rings they
are up against."
The fraud detection solution will provide participating insurers
with access to a service that leverages policy and claim data
hosted and managed by CGI and employs proven SAS fraud detection
technology, including social network analysis, predictive modeling
and anomaly detection. This combination of existing data from
participating insurers and an advanced software framework will
produce a composite fraud score that can be used fully and
consistently across the insurance value chain - from policy
inception to claim.
"Insurance fraud affects every single Canadian with an insurance
policy," said Maurice Tulloch, President and CEO of Aviva Canada.
"As one of the largest P&C insurance providers in the country,
we are committed to working across the industry to protect
consumers and reduce the costs of abuse. We all need to focus on
shutting down the fraudsters, and one of the most powerful things
we can do is collaborate more closely to identify criminal
individuals, practitioners and gangs."
CGI's new fraud detection service will tie in with insurers'
existing data infrastructures and integrate into the claims and
underwriting processes, while providing hands-on visual tools, such
as fraud risk scores, dashboards, network link analysis and
automatic archiving of data-relationship rules.
About CGI
Founded in 1976, CGI Group Inc. is one of the largest
independent information technology and business process services
firms in the world. CGI and its affiliated companies employ
approximately 31,000 professionals. CGI provides end-to-end IT and
business process services to clients worldwide from offices and
centres of excellence in the United States, Canada, Europe and Asia
Pacific. As at June 30, 2011, CGI's annualized revenue was
approximately C$4.2 billion and its order backlog was approximately
C$12.7 billion. CGI shares are listed on the TSX (GIB.A) and the
NYSE (GIB) and are included in both the Dow Jones Sustainability
Index and the FTSE4Good Index. Website: www.cgi.com.
About SAS
SAS is the leader in business analytics software and services,
and the largest independent vendor in the business intelligence
market. Through innovative solutions delivered within an integrated
framework, SAS helps customers at more than 45,000 sites improve
performance and deliver value by making better decisions faster.
Since 1976 SAS has been giving customers around the world THE POWER
TO KNOW®.
The Canadian subsidiary of SAS has been in operation for 23
years. Headquartered in Toronto, SAS employs 263 people across the
country at its Vancouver, Calgary, Edmonton, Winnipeg, Toronto,
Ottawa, Quebec and Montreal offices. www.sas.com
Contacts: Carolyn Rouse Director, Media Relations
CGIcarolyn.rouse@cgi.com 416 304-7323www.cgi.com/newsroom Suzanne
Sprajcar SASSuzanne.sprajcar@sas.com 416-307-4634 Visit the SAS
Press Centerwww.sas.com/presscenter
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