BUSINESSNEXT POSITIONED AS NICHE PLAYER FOR SALES FORCE AUTOMATION - GARTNER

KUALA LUMPUR, Sept 12 (Bernama) -- BUSINESSNEXT, a universe of composable enterprise solutions for banks and financial services, has been featured as a Niche Player in the 2024 Gartner Magic Quadrant for Sales Force Automation Platforms report for 11th consecutive year.

The quadrant highlights BUSINESSNEXT's strengths in machine-learning-based lead management, predictive scoring models, and a customisable artificial intelligence (AI) strategy.

“This recognition from Gartner highlights our commitment to providing innovative, scalable solutions that empower sales teams to exceed their goals while delivering exceptional customer experiences,” said BUSINESSNEXT Executive Director, Sushil Tyagi.

According to a statement, the platform was evaluated for its comprehensive suite of enterprise solutions, with a focus on its sales automation capabilities.

This positioning places the company among the top 13 vendors globally in the sales force automation platform, demonstrating its industry-focused approach and advanced solutions to delivering cutting-edge solutions.

With a strong presence in financial services and insurance across Asia Pacific, Europe, the Middle East and Africa, and North America, BUSINESSNEXT continues to enhance its platform with generative AI (GenAI)-powered models, visualisations, and mobile features to boost operational efficiency.

The company plans to introduce a smart seller assistant and enhance AI-powered workflows and know your customer (KYC) verification, further supporting global businesses in digital transformation, in addition to continuing advanced sales automation with its strong focus on developing native specialised AI solutions.

Future enhancements include the launch of WORKNEXT studio, a no-code platform offering GenAI-powered tools for lead summarisation and workflow design and improved productivity.

-- BERNAMA

CHRISTINA CEN JOINS EKIMETRICS AS GENERAL MANAGER IN CHINA

KUALA LUMPUR, Sept 10 (Bernama) -- Ekimetrics, a global leader in data science and artificial intelligence (AI)-powered solutions, has appointed Christina Cen as General Manager in China, to drive growth and operations in the region.

Operational since the beginning of 2024, the Shanghai office opening is part of Ekimetrics’ strategic expansion in Asia Pacific (APAC), alongside the Hong Kong office that has been operational since 2015.

“The potential for AI and data science-powered solutions in China is immense, and we are excited to have Christina Cen onboard to lead our China market expansion, drive regional growth and better serve our clients,” said Ekimetrics Chief Executive Officer, Jean-Baptiste Bouzige, in a statement.

Meanwhile, Cen wished to leverage her hybrid experience in consulting, in-house and startup to build an ecosystem to enhance the company’s capabilities and offer the best value-creating services to its clients.

Bringing nearly 20 years of experience in business strategy, marketing, sales, and digital transformation, Cen, in her new role, will focus on tailoring client strategies to meet the specific and fast-changing needs, trends, and regulations of the China market.

She will build and strengthen client relationships to drive growth opportunities and shape key partnerships for market development, in addition to lead and inspire the Ekimetrics China team, fostering a culture of success and innovation.

The establishment of the Shanghai office marks a significant step in Ekimetrics' plan to accelerate business growth in the APAC region as it will focus on key industries such as consumer & retail, financial services, technology, and automotive, which align closely with Cen’s extensive experience.

Her appointment will also contribute to enhancing Ekimetrics’ ability to better serve its clients, delivering tailored, high-value solutions based services and helping them navigate the complexities of the Chinese market while achieving their business objectives.

-- BERNAMA

KOREAN VRAD ENTERS ASIAN MARKET WITH SERIES OF MEDICAL EDUCATION SIMULATORS

KUALA LUMPUR, Sept 11 (Bernama) -- VRAD, a Korean virtual reality medical education company, has announced its entry into the Asian market by launching a new series of medical education simulators.

By introducing its flagship medical education simulators to these markets, VRAD said in a statement it is expanding its presence in key Asian countries, including Thailand, India, Taiwan, and Singapore.

The newly launched simulators include the "Core Nursing Skills Simulator", "Oral Radiography Simulator", "Severe Trauma Management Simulator", "Ventilator Management Simulator", and "Neonatal APGAR Scoring Simulator".

Medical professionals can receive training in environments that closely mimic real-life scenarios thanks to the meticulous design of each simulator.

The company is showcasing these products at the Medical Fair Asia (MFA) in Singapore on Sept 11, with its innovative medical education solutions expected to garner significant attention at this event, highlighting VRAD's growing influence in the Asian market.

A VRAD representative stated that the expansion into the Asian market is a pivotal step in the company’s global growth strategy, and the unveiling of its products at MFA in Singapore is particularly significant, as it will play a crucial role in strengthening VRAD's position in the Asian medical education sector.

Currently, VRAD has supplied its virtual reality medical education simulators to over 80 medical and educational institutions across Korea, demonstrating its outstanding technological capabilities and the effectiveness of its educational solutions.

The company anticipates that its entry into the Asian market will allow more medical institutions to leverage its innovative educational tools.

Designed to support real-time interaction and learning in virtual environments, VRAD's solutions aim to enhance the capabilities of medical professionals by preparing them for a wide range of medical scenarios.

-- BERNAMA

AM Best Assigns Excellent Ratings To Thailand’s Allianz Ayudhya General Insurance

KUALA LUMPUR, Sept 10 (Bernama) -- Global credit rating agency, AM Best has assigned a financial strength rating of A- (Excellent) and a long-term issuer credit rating of “a-” (Excellent) to Thai-based Allianz Ayudhya General Insurance Public Company Limited (AAGI).

In a statement, AM Best said these credit ratings (ratings) which have a stable outlook reflected AAGI’s balance sheet strength, which was assessed as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management, along with the benefits the company received from Allianz SE (Allianz group) rating enhancement.

AAGI’s balance sheet strength assessment is assessed as strong, supported by its strongest level of risk-adjusted capitalisation at year end 2023, as measured by Best’s Capital Adequacy Ratio, and is expected to be at least at the very strong level over the medium term.

The company benefits from strong financial flexibility with access to capital markets through its listed parent holding company, Allianz Ayudhya Capital Public Company Limited.

The credit rating agency views the company’s investment strategy as conservative, with the majority of investments allocated to cash, deposits and high-quality bonds, and it has a moderate reliance on reinsurance to support its underwriting capacity and manage exposure to catastrophic events. 

AAGI’s operating performance is viewed as adequate in which the improvement in underwriting performance for year-end 2023 is primarily attributed to the benefits of increased scale, cost management initiatives and a lower acquisition expense ratio, despite an elevated loss ratio emanating from the motor book of business.

AM Best assesses AAGI’s business profile as limited. AAGI is a non-life insurer operating in Thailand and ranks as the ninth largest general insurer, with a market share of 3.5 per cent, based on direct premiums written in 2023.

The company’s underwriting portfolio is well-diversified by line of business and distribution channels. However, it has limited geographic diversification as it only offers its products in Thailand.

The rating enhancement from Allianz SE reflects both explicit and implicit support it receives from the group although AAGI’s operations account for a small portion of the group's consolidated revenue, the company is considered strategically important to the group’s expansion strategy.

-- BERNAMA

APREVENT TRIUMPH AT MEDTECH INNOVATOR 6TH ANNUAL APAC COMPETITION

KUALA LUMPUR, Sept 9 (Bernama) -- MedTech Innovator, the largest accelerator of medical technology companies in the world, announced that APrevent was named the 2024 MedTech Innovator Asia Pacific Accelerator programme Finals Competition Winner.

Taiwan-based company APrevent was awarded a US$175,000 Grand Prize, while the other finalists, INOPASE (Japan), KA Imaging (Canada), and Qritive (Singapore), will each receive US$10,000 in addition to a one-year APACMed membership, according to MedTech Innovator in a statement. (US$1=RM4.34)

The four finalists competed at the MedTech Innovator Asia Pacific 2024 Grand Finals hosted by MedTech Innovator in partnership with Asia Pacific Medical Technology Association (APACMed) at the APACMed MedTech Forum, which took place Sept 5 and 6, in Singapore.

APrevent has developed innovative solutions for voice and speech disorders and is the first Taiwanese company to win the MedTech Innovator Asia Pacific accelerator programme Grand Prize.

Following each finalist’s presentation, a panel of distinguished medtech executives engaged in a Q&A session with the finalist and the winner was determined by a live audience vote.

Besides APrevent’s Grand Prize of US$175,000 in non-dilutive funding, additional prizes were also awarded. Gyder Surgical took home the Johnson & Johnson – JLABS Asia Pacific Award; INOPASE was awarded the Cambridge Consultants Product Design & Development Award; and Qritive received the Enterprise Singapore (EnterpriseSG) Startup SG Grant Award, among others.

Over 400 companies applied for the APAC programme this year, and after a rigorous selection process, 60 companies were invited to pitch, of which 20 were selected to complete the four-month accelerator programme.

Featuring medical device, diagnostic, and digital health companies from around the globe, the 2024 Asia Pacific cohort companies received customised resources, mentorship, an unparalleled network of over 600 global peers, exposure to industry leaders, and were awarded over US$300,000 in cash prizes and in-kind awards.

During the APACMed MedTech Forum, all 20 accelerator companies were showcased to the conference attendees, representing the key leadership of the APAC medtech industry.

-- BERNAMA

APAC Reinsurers See Significant Gains In Favourable Investment Environment - AM Best

KUALA LUMPUR, Sept 6 (Bernama) -- Major Asia-Pacific (APAC) reinsurance companies saw their composite’s return on equity surge to 9.2 per cent from 0.1 per cent under International Financial Reporting Standards (IFRS) 17, supported by a more stable investment environment and benign catastrophe activity.

This is according to Best's Market Segment Report, “Asia-Pacific Reinsurers Achieve Strong Results in Improved Investment Environment”, a part of AM Best’s look at the global reinsurance industry ahead of the Rendez-Vous de Septembre in Monte Carlo.

Other reinsurance-related reports, including AM Best’s ranking of top global reinsurance groups and in-depth looks at the insurance-linked securities, Lloyd’s, life/annuity, health and regional reinsurance markets, are available at Best’s Research.

AM Best senior director, head of analytics, Christie Lee said Asian reinsurers’ underwriting strategies for 2024 are diverse and depend on their ability to secure retrocession capacity, as well as their ability to manage the underwriting cycle.

“The large Asian reinsurers have adjusted their catastrophe capacity offerings in their home markets to shrink their catastrophe exposure accumulation, while others have deployed a mature market growth strategy to capture the benefits of material rate increases,” she said in a statement.

According to this report, Asian reinsurers, with business profiles characterised by a more traditional property line focus, as well as a relatively large book of proportional treaties, have benefitted less directly from global reinsurance rate hardening.

Nevertheless, the stability of operating performance of Asia’s reinsurers over the years has been notable, and they are working to improve profitability by expanding business overseas, with China still facing distinct challenges, though, as the country’s post-COVID recovery remains weak.

The report unveiled that the capital position of the major reinsurers in the APAC composite remains robust. Diversification will remain the business philosophy and strategy for Asia’s large reinsurers.

In addition to geographic expansion, diversifying their lines of business from traditional property treaties to building liability, life/health and specialty books of business will allow reinsurers to better manage the reinsurance cycle.

-- BERNAMA

PAUL KNIGHT RETURNS AS CNE DIRECT (ILLUMYNT) CEO

KUALA LUMPUR, Sept 6 (Bernama) -- CNE Direct Inc (doing business as illumynt) has announced the return of Paul Knight as Chief Executive Officer (CEO) of the global ITAD trading, services and solutions company.

Now in its 23rd year of business, this change comes about as part of a restructuring for illumynt to kick off its next phase of strategic growth initiatives, according to the company in a statement.

“I am excited to be returning as CEO and look forward to working with our world class team and getting the chance to spend more time with our customers and partners around the world to execute our new strategic growth plans,” said Knight.

Knight co-founded the business in 2002 and was the company’s CEO for most of its history while serving continuously as Chairman since inception.

He is making his return as the company pivots towards further global expansion, new service offerings, and a focus on delivering market leading results for its customers and partners.

In addition to Knight’s return, the company also announced other initiatives, including the hiring of a new Vice President (VP) of Engineering, Gavin Wilson, who brings over 20-years’ experience of developing sophisticated testing, repair, and value recovery solutions for customers globally.

Correspondingly, Joe Conway has been promoted to the role of VP of Solutions, to which he has provided strong leadership in analysing, pricing, and onboarding large global programmes for illumynt, managing cross-functional teams to deliver targeted results.

In other respects, there was also the signing of a strategic engagement with ITAD advisory firm Circular Integrity, led by Founder & CEO Todd Zegers, former ITAD and Reverse Logistics for Ingram Micro Global VP. Circular Integrity will work closely with CNE’s senior management team to accelerate growth and diversification.

Expanding its global footprint, illumynt is in the process of opening three new facilities in Franklin, Massachusetts, United States; Cork, Ireland; and Thailand.

-- BERNAMA

QUANTEXA GRANTED A “LUMINARY” IN INSURANCE FRAUD DETECTION

KUALA LUMPUR, Sept 5 (Bernama) -- Quantexa, the global leader in Decision Intelligence (DI) solutions for the public and private sectors, announced its Fraud Detection solution has been awarded “Luminary” status in Celent’s 2024 Insurance Fraud Detection Solutions: Property & Casualty Insurance Report.

Quantexa Global Insurance Industry Lead, Alex Johnson said being recognised by Celent as a Luminary in anti-fraud technology validates the company’s ongoing investment into research and development (R&D), its future vision, and the value delivered to its clients across the globe.

The report highlights Quantexa’s position as a leading provider of advanced fraud detection and investigation solutions, according to a statement.

It showcases the impact the solution has on investigative and anti-fraud teams in the insurance industry make when protecting losses and enhancing customer experiences.

Insurance fraud is on the rise; organisations in the United Kingdom recorded that false claim applications increased by 20 per cent in the insurance sector in 2023, while in the United States it is estimated that US$308.6 billion annually is lost to insurance fraud.

Quantexa’s Fraud and Security solution uses artificial intelligence (AI) and machine learning (ML) in its dynamic entity resolution and knowledge graph capabilities to ingest, match, connect, and visualise billions of data records on-demand.

The company’s solution was recognised by Celent for its differentiation as it incorporates innovative AI technologies for predictive modelling as well as for data quality assessment and context generation. In addition, it was also highlighted for its ability to be deployed on all major public cloud platforms globally.

The report analyses 10 fraud detection solution providers based on their technology and functionality. Quantexa’s “Luminary” status puts them in the leadership position in the report.

Celent analysts write that Quantexa stands out as a leading fraud detection platform from both a technology and functionality perspective. Its significant investments, marquee clients, and strong market positioning suggest it will remain a top player in insurance fraud detection.

-- BERNAMA

Integrated Power Services Completes Assets Acquisition Of ABB Industrial Services

KUALA LUMPUR, Sept 4 (Bernama) -- Integrated Power Services (IPS), a North American leader in the servicing, engineering, and remanufacturing of electrical, mechanical, and power management systems, has finalised the acquisition of ABB’s Industrial Services business, effective Aug 31.

With locations in Arizona, Indiana, North Carolina, Alberta, and Ontario, ABB Industrial Services provides the highest-quality repair and field service capabilities for electric motors up to 50,000 horsepower (HP) and low- and medium-voltage switchgear equipment from 480 volt (V) to 15 kilovolt (kV).

According to IPS in a statement, these service centres also perform rotating equipment repair of pumps, compressors, blowers, bearings, gearboxes, and OHV mining drivetrains.

IPS President and Chief Executive Officer, John Zuleger said this acquisition will permit IPS to add locations where customers have urged the company to offer services.

“These five locations will enhance our capabilities in renewables, copper mining, and power management aftermarket industrial services.

“Additionally, IPS will now be the home of 115 additional talented employees, and the legacy technology and expertise from the General Electric and ABB heritage of these newly acquired sites,” he said.

The acquisition of ABB Industrial Services follows IPS’s acquisition of ABB’s hydrogenerator and transformer repair business in June 2022. The five ABB electric motor, generator, mechanical, switchgear, and circuit breaker industrial service centres were a part of a General Electric Industrial Solutions acquisition by ABB in June 2018.

In discussing the company's growth, Zuleger shared that IPS has grown to 88 locations, serving the United States, Canada, the United Kingdom, Europe, and the Caribbean, and aspires to become the single source, trusted advisor for its customers’ critical infrastructure challenges.

“We are committed to revolutionising reliability, as we advance our vision and ability to respond, rethink, and resolve our customer’s biggest reliability challenges,” he added.

-- BERNAMA

Strong Technical Results Propel Global Reinsurers Momentum - AM Best

KUALA LUMPUR, Sept 4 (Bernama) -- Global credit rating agency, AM Best in its latest research on the global reinsurance industry highlights the segment’s strong technical results amid an ongoing shift to the International Financial Reporting Standards (IFRS) 17 reporting standard.

AM Best has published its annual review of the global reinsurance industry, an analysis highlighting companies’ favourable results and financial reporting shifts, as reinsurance industry leaders prepare to gather in Monte Carlo for the annual Rendez-Vous de Septembre.

In a statement, AM Best said the report is available in one comprehensive volume, featuring exclusive extra content, the credit rating agency’s in-depth analysis of key segments and regional markets spotlights a global momentum that was the main driver of its first-ever positive outlook on the reinsurance segment in June 2024.

Given the comprehensive de-risking measures and a realignment of interests between reinsurers and primary carriers, albeit with a lack of new company formations, the credit rating agency expects the hard pricing conditions to last longer than in previous cycles.

At the same time, IFRS 17, which became effective on Jan 1, 2023, has been adopted by many reinsurers, and this move has created challenges for users of the new financial standard and has also prompted AM Best to modify its listing of the largest reinsurers, depending on the reporting standard used.

The report explores factors affecting different reinsurance market participants, with specific regional observations including improved underwriting results among reinsurers in Sub-Saharan Africa; and certain markets experiencing significant levels of economic deterioration, challenging fiscal manoeuvrability despite resilience among Middle East and North Africa (MENA)-region reinsurers.

In addition, the report also examines the catastrophes in the previous year, including Hurricane Otis, highlight the need for additional capacity in the Latin America region’s reinsurance market; the Asia Pacific reinsurance composite achieving significant growth in 2023, owing mostly to China Re’s international expansion.

Factors such as better pricing and terms and conditions, along with a strong, global reach paved the way for a solid year by Europe’s “Big Four” reinsurers; and the data and analysis behind AM Best’s latest list of the 50 largest reinsurance groups, were among the observations highlighted in the report.

-- BERNAMA

3FORGE SECURES FUNDING FROM MORGAN STANLEY

KUALA LUMPUR, Sept 4 (Bernama) -- 3forge, leader in innovative High Impact code solutions for business-critical applications, announced it has closed on an investment by Morgan Stanley.

In a statement, 3forge said this is the first time the company has raised external capital since launching in 2011.

“We are thrilled to close on an investment by Morgan Stanley, a longstanding partner who truly understands the value and performance of 3forge technology.

“This is an exciting milestone as we continually expand our capabilities to help enhance client workflows and productivity,” said 3forge Founder, Robert Cooke.

The funds will be used to accelerate 3forge’s global go-to-market strategy and expand its development community.

A high-performance platform used by developers to build enterprise applications, 3forge technology has enabled the rapid development and deployment of front-end applications with a focus on real-time data integration, virtualisation, processing and visualisation.

Since 2014, Tier-1 global banks, hedge funds, asset managers, exchanges, and sovereign wealth funds have deployed 3forge’s platform to power hundreds of client-driven, critical business use cases.

-- BERNAMA

NX SOUTH ASIA & OCEANIA TO TAKE PART IN SEMICON INDIA 2024

AsiaNet 0200350

TOKYO, Sept. 2, 2024 /Kyodo JBN/ --

Nippon Express (South Asia & Oceania) Pte. Ltd. (hereinafter "NXSAO"), a group company of NIPPON EXPRESS HOLDINGS, INC., will exhibit at SEMICON India 2024 to be held near Delhi, India, from Wednesday, September 11, to Friday, September 13.
 
NX Logo: https://kyodonewsprwire.jp/img/202408295624-O2-M6evk4BB
 
Image of exhibition booth: https://cdn.kyodonewsprwire.jp/prwfile/release/
M103866/202408295624/_prw_PI1fl_2v9l0vhV.png
 
SEMICON India, one of the largest electronics trade shows in South Asia, aims to attract a wide range of semiconductor-related technology players to India to make the country a global hub for semiconductor design, manufacturing and technology development. Semiconductor manufacturers, equipment and raw material suppliers, and logistics companies will gather to showcase their latest technologies and products.
 
NXSAO will highlight the strengths that the NX Group has cultivated in the semiconductor industry over the years and, through its participation in this trade show, the NX Group will strengthen its relationships with customers and related organizations, and create new partners to support business expansion by its customers, including those in semiconductor-related industries.
 
Event overview
Name of trade show: SEMICON India 2024
Dates: Wednesday, September 11 - Friday, September 13, 2024
Opening hours: 10:00 am to 6:00 pm, closing at 5:00 pm on 13th (Indian Standard Time)
Venue: India Expo Mart (IEML) Greater Noida, Delhi, NCR, India
Booth: H3O21
 
Exhibits
- Logistics networks in India and worldwide
Introducing NX Group's global and Indian logistics networks
 
- End-to-end semiconductor logistics solutions
Introducing end-to-end logistics solutions -- from factory construction to product sales -- for semiconductor industry
 
About the NX Group:
https://kyodonewsprwire.jp/attach/202408295624-O1-QRyp7nO0.pdf
 
NX Group official website: https://www.nipponexpress.com/
NX Group's official LinkedIn account: https://www.linkedin.com/company/nippon-express-group/
 

Source: NIPPON EXPRESS HOLDINGS, INC.