According to the two firms, the product is a significant advancement in the insurance systems market place as it leverages open source and proven enterprise technologies such as Java, Oracle and JBoss to provide an n-tier platform which will allow for the integration of new automation functions such as CRM, automated workflow and web-based transactions.
IBS BackOffice 5 (IBS 5) also aims to permit exceptional configuration flexibility and user customization without additional technical intervention. Mutual Concept Computer Group (MCCG) will release the product at the end of spring 2005.
MCCG views the acquisition of Bralar and its decision-making rules engine as a step towards gaining complete control over the development and maintenance of its software products.
The ownership of the Bralar rules engine, together with the consolidation of resources between MCCG and Bralar will result in bringing to market a product that will provide the highest level of automation in the industry and the most effective match for the business requirements of our P&C insurance clients, stated Dorin Mascan, president of MCCG.
