The two have a relationship that spans 25 years

Admiral has signed a five-year rating services contract with independent IT and business consulting service CGI, extending its annual rolling contract.

The contract includes the ongoing use of CGI’s enterprise rating software, called Ratabase. Designed for vehicle and household insurance, the software is integrated with Admiral’s core policy administration system, as well as other related services.

Ratabase gives insurers, managing general agents (MGAs), brokers, agents, data providers and other industry organisations the ability to control distribution and data enrichment in pricing, risk assessment and underwriting processes.

It claims to have an extensive installation base, with more than 100 client implementations across all lines of business in the property and casualty, life and accident areas.

The contract agreement follows the release of Admiral’s full year results, which saw profits peak last year. 

25-year relationship

The partnership between CGI and Admiral has spanned 25 years - the recent contract signing continues the relationship between the two companies.

Paul Wishman, director, insurance sector at CGI, said: “While we’ve worked alongside Admiral since 1995, we’ve always had an annual rolling contract; this is the first extended agreement we’ve signed.”

Wishman said he was thrilled to continue working with Admiral, helping to provide a high level of service.

“Ratabase will continue to allow Admiral’s distribution channels to process millions of accurately priced transactions every day,” Wishman added.

Rhodri Charles, head of UK motor pricing and analytics at Admiral, said: “Ratabase is central to allowing us to offer our customers the best insurance for them and we are pleased to extend our contract with CGI.

“As a business, they work incredibly closely with us to address our needs, especially for technical functionality and innovation in pricing and underwriting. It’s been a highly collaborative working partnership and everyone at Admiral is keen to continue being able to draw upon CGI’s expertise, professionalism and technical innovation.”