Microgen taps into insurance market

Microgen taps into insurance market

Microgen (MCGN) has made further inroads into the insurance market by selling the use of its Aptitude Insurance Calculation Engine to major insurance groups in Europe and Asia. More agreements are in the pipeline, but chief financial officer Philip Wood hopes the related deals will provide further commercial validation. The tool helped boost sales in the software division by nearly a third to £25.4m in the first half, while the ongoing recurring revenue base has grown by 42 per cent to £21.3m.

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