CGI leader Andy Jones on transforming the market and the data standards vision

Creating a data standard is “the real utopia vision”, Andy Jones, director for consulting services in insurance at CGI in the UK, told Insurance Age.

The firm released CGI Elements360 ARC-IBA (Accounts Reconciliation Centre-Insurer Broker Accounting) in March, a platform where brokers and insurers can settle accounts in one place.

According to Jones the solution looks to address the high levels of operating costs within the finance back-office space in terms of accounts receivable and accounts payable.

The service, he detailed, can remove frictional cost through automation and accelerate the payment of premium through from brokers to insurers.

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