May 30, 2006 (London, Ontario) – Mutual Concept Computer Group Inc. (MCCG) of London, Ontario is pleased to announce the approval of its Scientific Research and Experimental Development (SR&ED) filings with the Federal and Provincial governments for advancements made in the field of computing science during the course of development of its latest generation software platform, Insurance Business System™ version 5 (IBS™ 5).
The IBS® 5 product is a complete back-office solution for Property and Casualty (P&C) insurance companies. MCCG’s IBS™ 5 is expected to be one of the most advanced back-office solutions available for the P&C insurance market. The technological advancements made by the MCCG team during this project resulted in a unique design methodology and radically different data model that provides extreme flexibility and customization at run time without requiring additional programming. Based on mainstream technologies such as Oracle and Java, the IBS™ platform has been designed to grow and be adaptive to emerging technologies, assuring that its applications will play a strategic role in keeping their users competitive.
“MCCG has worked through the rigorous government evaluation process which involves audits by both scientists and financial experts and has received 100% approval on its filings” stated Dorin Mascan, President and CEO of MCCG. “The fact that MCCG is recognized by Canada’s major research and development incentive program confirms once more the tremendous value our software products will bring to our clients and future adopting companies.”
The IBS™ 5 product is currently undergoing configuration and testing at 12 Farm Mutual Insurance Companies and will be rolled out on an already established schedule to all the MCCG shareholders over the course of the next two years.
About Mutual Concept Computer Group Inc.
Established in 1993 with the mission of providing innovative and flexible software solutions to its clients, MCCG is a company wholly owned by Canadian Mutual Insurance Companies. MCCG currently has 30 employees at its location in London, Ontario. For more information, please visit www.mccg.net.Tags: Insurance Business Solution (IBS), Mutual Concept Computer Group (MCCG)