COGNICASE Wins Swiss Re-Insurance Contract to Build
Global Application
MONTREAL, QUEBEC--OCTOBER 4, 2001 - 09:07 EDT
COGNICASE Inc. a provider of advanced
transaction processing solutions and Internet-based applications,
announced today that it has been awarded a systems development and
implementation contract with Swiss Re-Insurance, (Swiss Re), one
of the world's largest providers of reinsurance. The contract,
valued at more than $3.0 million, represents significant
additional business with this client for our financial vertical
market in Toronto.
The project leverages COGNICASE's technical ability to build a
suite of Java-based underwriting applications that will be
deployed on a thin client platform. Its focus is on the creation
of a comprehensive, integrated system that will address the
industry's continuous push to deliver increased operating
efficiencies, improved capital management practices, as well as
continue to reduce operating ratios and increase shareholder value
and customer satisfaction.
The project will be led by the Canadian arm of Swiss Re, which
recently won the right to develop this global enterprise-wide
application from its Zurich-based parent corporation. Swiss Re
Canada turned to COGNICASE Toronto to assist it with building and
deploying the application and its subsequent global rollout,
starting with Europe, Latin America and Asia.
"We are very pleased to work with Swiss Re on this important
global project, which maintains our long-term customer
relationship and contributes to our growing list of Toronto-based
insurance clients," said Ronald Brisebois, Chairman of the Board,
President and CEO of COGNICASE. "We believe our technical
strength and strong project management skills are well suited to
the needs and challenges of this important, high-profile project.
We look forward to a long and mutually rewarding partnership with
Swiss-Re."
The 18-month project focuses on nine major initiatives, including
automated renewal, underwriting process standardization, global
clearing, interface integration, system consolidation and thin
client deployment.
"Being a customer and investor-centric organization is imperative
in today's market and requires responsiveness, flexibility, and
the ability to leverage client data to create the best solution,"
said Fred D'Agostino, Vice-President, IT, Swiss Re Canada.
"COGNICASE understands our need to put our customers and investors
first and responded by becoming our partner in building an
application that will help us achieve our goals of increased
customer satisfaction profitability and profitability."
About COGNICASE
COGNICASE (TSE: "COG", NASDAQ: "COGI") is an IT products and
services provider specializing in advanced transaction processing
and Internet-based applications. Relying on its results-driven
approach, its software and technology and its international
Internet engineering and hosting center, COGNICASE offers secure
and scalable solutions that contribute to its customers' economic
successes in the new economy. COGNICASE is active in several
geographies, including Canada, the United States, France, Spain,
Belgium, and the Netherlands.
About Swiss Re
Swiss Re is one of the world's leading reinsurers with over 70
offices in more than 30 countries. In the 2000 financial year,
gross premium volume amounted to CHF 26.1 billion and the net
income after tax reached CHF 3 billion. Swiss Re is rated "AAA"
by Standard & Poor's, "Aaa" by Moody's and "A++" (superior) by
A.M. Best. |
