TORONTO, Sept. 30 /CNW/ - Camilion Solutions, a leading provider of
product development solutions and next-generation policy administration
systems to the insurance industry, today announced that the company has been
ranked among the Deloitte Technology Fast 50, a ranking of the 50
fastest-growing technology companies in Canada, based on the percentage of
revenue growth over five years. Camilion's increase in revenues of 1,897
percent from 2003 to 2007 resulted in a 13 ranking.
For over a decade, the Deloitte Technology Fast 50 program has tracked
the successful growth of Canadian-grown global leaders. Now Canada's
pre-eminent technology award program, the Deloitte Technology Fast 50 augments
the broader Deloitte North American Technology Fast 500 initiative, with
winners automatically eligible for this elite ranking.
"Transforming technological innovation into business success is
challenging, and it's especially difficult to sustain such rapid revenue
growth over five years. Camilion Solutions has rapidly built a highly
successful company in the Canadian technology industry and we applaud their
dedication and ability to transform their vision into reality," said John
Ruffolo, National Leader, Technology, Media & Telecommunications Industry
Camilion's CEO Ross Orrett credits the U.S. insurance market's rapid
adoption of its modern, world-class solutions with the company's exceptional
growth over the past twelve months. "In just the past year, we have more than
doubled our customer base, which includes the world's largest insurers,"
Orrett said. "Being ranked in the Deloitte Technology Fast 50 with such an
elite group of innovative companies is an honour for Camilion. This award is a
tribute to our employees and the courageous execution that our
high-performance team exhibits."
To qualify for the Deloitte Technology Fast 50 ranking, companies must
have been in business for at least five years, have revenues of at least
$5 million, be headquartered in Canada, own proprietary technology, and
conduct research and development activities in Canada. A panel of industry
experts evaluates and judges companies based on four key criteria: competitive
advantage; size, growth, and market attractiveness; management effectiveness
and organization; and financial performance.
About the Deloitte Technology Fast 50
The Deloitte Technology Fast 50 program is Canada's pre-eminent
technology awards program. Celebrating business growth, innovation and
entrepreneurship, the program features four distinct categories including the
Technology Fast 50 Ranking, Companies-to-Watch (early-stage Canadian tech
companies in business less than five years, with the potential to be a future
Deloitte Technology Fast 50 candidate), Leadership Awards (companies that
demonstrate technological leadership in four industry subcategories:
hardware/semiconductor, software, telecommunications and emerging
technologies) and the Deloitte Technology Green 15 Awards (Canada's leading
GreenTech companies that promote a more efficient use and re-use of the
earth's resources in industrial production and consumption). Program sponsors
include Deloitte, Gowlings, GrowthWorks, RBC Capital Markets, Wellington
Financial, Stonewood Group, CATAAlliance and IGLOO. For further information,
About Camilion Solutions Inc.
With customers who are the world's largest insurers, Camilion Solutions,
Inc. (www.camilion.com) uses its deep knowledge of insurance to create
software solutions that enable insurers to develop new or modify products more
quickly and efficiently than competitors, automate underwriting, enable
straight-through processing for online sales, and deploy an agile, modern
technology platform to better support growth and expense reduction. Camilion
is a privately owned corporation established in 2001 with offices in Toronto
and New York.
ProductAuthority(R), Authority Suite(R) and related names are trademarks
of Camilion Solutions, Inc. All other products and services mentioned are
trademarks of their respective companies.
For further information:
For further information: Gwen Lannaman, Camilion Solutions, O: (905)
482-3452, M: (905) 992-9557, firstname.lastname@example.org