07:05 AM EDT, 07/03/2024 (MT Newswires) -- CGI (GIB-A.TO, GIB), an IT consulting services firm, on Wednesday said it is partnering with Munich Re unit Risk Management Partners to help insurers reduce claims, increase profits and drive long-term value through climate risk mitigation.

The 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.

Insurers will be able to access decision support data to advance their risk management policies and practices, enabling better decision-making, the company said.

"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 of consulting services at CGI.

CGI's share price at last look traded 1.3% higher at US$102.68 in U.S. pre-market on Wednesday.