Procap Insurance innovative business model is the first of its kind in the insurance industry

LONDON, April 29, 2023 (GLOBE NEWSWIRE) — ProCap Insurance is taking the insurance industry by storm. The ProCap Insurance Manila office will officially open in the month of May. Prior to this, ProCap Insurance had signed partnership agreements with partners in various different countries. Subsequently, ProCap Insurance will set up official agency offices in these respective countries.

All the regional partners strongly agreed that ProCap has a great business model and an experienced management team that is uniquely positioned to capitalise on the evolving insurance environment. As the industry transits through consolidation and technological disruptions, ProCap’s avant-garde operating model is well-positioned to provide the most competitive and cost-effective products. The amalgamation of ProCap, Policyholders, and Gaming Operators seamlessly is an industry first. The company has tremendous growth potential to be an industry leader with this revolutionary business model.

They further emphasised that both the insurance and gaming industry have 4 critical success factor in common. There are 1. Longevity 2. Sustainability 3. Law of large numbers 4. Recession Proof

  1. Longevity – Both industries have been in existence for more than three hundred years. They have subsequently adopted and evolved with times and embraced technology to keep them competitive and stay relevant. In fact, both industries are leaders in the adoption of cutting edge technologies to enhance the competitive advantages and maintain their relevancy in a fast moving world.
  2. Sustainability – Despite two world wars and numerous pandemic, they are still around to serve their clients faithfully without disruption.
  3. Law of large numbers – Both industries thrive on large numbers or big data. By having large numbers, they are able to better manage risks pooling and risks sharing more efficiently and effectively. This ensures that the interests of the policy holders are well covered and protected.
  4. Recession Proof – Contrary to popular belief, the recent pandemic had no negative impact on their revenues. In fact, both industries have registered double digits growth.

The partners are confident that ProCap Insurance has tremendous growth potential to be an industry leader with this revolutionary business model.

About ProCap Insurance

ProCap Insurance is a leading provider of capital insurance which insures the underlying fixed and current capital assets of enterprises and/or individuals. The company also offers consulting and pay-out analysis services for capital asset insurance to empower individuals and/or businesses to achieve better financial planning and financial freedom.

www.procap.insure

Media Relationships Manager

Steve Hughes

Steve.hughes@procap.insure

GlobeNewswire Distribution ID 8828626

Health Minister visits Komodo Hospital ahead of ASEAN Summit

part from serving the (ASEAN Summit) delegates, it can also be used to treat the community Labuan Bajo, NTT (ANTARA) - Health Minister Budi Gunadi Sadikin reviewed the readiness of the Komodo Regional General Hospital (RSUD), which would serve as a referral hospital for the implementation of the 42nd ASEAN Summit."I visit here to ensure the medical equipment and facilities (in the RSUD) are ready," he said after visiting the hospital accompanied by Head of West Manggarai District Edistasius Endi and Deputy Head of West Manggarai District Yulianus Weng on Sunday afternoon. They toured various rooms and facilities on the first to the fourth floors of the hospital to see the progress of the development of the hospital, which is located in Komodo Sub-district, West Manggarai District, East Nusa Tenggara (NTT) Province. Komodo RSUD is one of the referral hospitals for handling VVIP patients during the implementation of the summit in Labuan Bajo, West Manggarai District, on May 911, 2023. The minister has noted that the equipment and facilities in several rooms still need to be improved. "Some of the equipment was scheduled to arrive on Sunday, and its installation would be started immediately," he continued. "It is said that the furniture for the reception area will arrive today and soon begin to be installed," he stated. On the occasion, Sadikin also reviewed a room prepared as the hospital's catheterization laboratory (cath lab), which is a special room for handling heart and stroke patients. He informed me that the room would have sophisticated equipment with high radiation levels that could only be operated by specialists. "It (the catheter lab equipment) is planned to arrive at eight o'clock tonight; hopefully it can be completely installed within the next two to three days because the installation is quite complicated," he noted. The minister also talked to a number of health workers during the visit and asked them to be on standby for 24 hours. "It (the equipment) is not only used for the (ASEAN Summit) event." "Apart from serving the (ASEAN Summit) delegates, it can also be used to treat the community," he noted. He said that he would visit Komodo RSUD again the following week. fter reviewing the RSUD for about an hour, he visited the Siloam Hospital inLabuan Bajo, which would also be the referral hospital for the implementation of the 42nd ASEAN Summit. In addition, Santo Yoseph Labuan Bajo General Hospital in NTT Province; Dr. Wahidin Sudirohusodo Central General Hospital (RSUP) in Makassar City, South Sulawesi Province; and Prof. Dr. I.G.N.G. Ngoerah RSUP in Denpasar City, Bali Province, were appointed as referral hospitals for the summit. baca-jugaRelated news: President Jokowi to lead seven of eight ASEAN Summit meetingsRelated news: Secure ASEAN Summit through humane approach: NTT Police chiefRelated news: Police gauges disaster potential in NTT ahead of ASEAN Summit

Source: Antara News Agency (ANA)

Hyundai Motor chief to join Korean version of Buffett lunch project

Hyundai Motor Group Executive Chair Euisun Chung will hold a lunch meeting with young applicants in a project modeled after "Warren Buffett lunch" to connect better with younger generations, a South Korean business lobby said Sunday.

The Federation of Korean Industries (FKI) planned the "God-saeng One meal" project as part of its efforts to restore its status as the country's leading business lobby group and strengthen communication with the public, an FKI spokesman said over the phone.

God-saeng means a life that is lived very faithfully in Korean. It focuses on oneself and establishes goal-oriented routines for his or her development.

Hyundai Motor Group Executive Chair Euisun Chung

In the first communication project, the FKI invited Hyundai Motor Group Chairman Chung, car-sharing company SoCar Chief Executive Park Jae-uk and entertainer-cum-entrepreneur Noh Hong-chul to a lunch meeting with the MZ generation.

The FKI plans to select 30 MZ people for the God-saeng One meal project.

Generation MZ refers collectively to millennials, who were born in the early 1980s to early 1990s, and Generation Z, born in the mid-1990s to early 2000s.

The three business leaders will meet with the 30 selected people under the theme of "God-saeng for dreams and unyielding spirit," the FKI said in a statement.

Chairman Chung leads the South Korean automotive group's efforts to morph into a future mobility solutions provider, with focus on electrification and autonomous driving.

SoCar CEO Park has played a leading role in the growth of the SoCar business as the country's No. 1 car-sharing services provider.

Noh is operating restaurants and bakery and coffee outlets with a variety of creative ideas, such as a circus-concept bakery-cafe store, which are popular with the MZ generation.

The selected applicants will have to pay for their lunch with the three businessmen by fulfilling their plans to contribute their talents to the community within three months, the statement said.

Warren Buffett, 92, chairman and CEO of Berkshire Hathaway Inc., raised more than $53 million for San Francisco charity Glide, in the past 21 auctions, which began in 2000.

No auctions were held in 2020 and 2021 due to the COVID-19 pandemic.

Last year, an unidentified wealthy person bid more than $19 million to dine with Buffett in the 21st and last auction.

In 2017, the FKI came under fire as chief executives of member conglomerates, such as Samsung Group, Lotte Group and SK Group, were accused of being involved in the corruption scandal surrounding impeached President Park Geun-hye.

Activist groups called for the disbandment of the then 56-year-old lobby group despite its drastic reform plans.

Some 180 member companies, including the country's four biggest conglomerates -- Samsung, SK, Hyundai Motor Group, LG Group -- have withdrawn from the formerly 600-member group since March 2017.

Source: Yonhap News Agency

Newcomers should have place to live and job: Jakarta official

Jakarta (ANTARA) - Head of Jakarta's Population and Civil Recording Office (Disdukcapil), Budi Awaluddin, has stated that newcomers to the capital city should have a place to live and a job so that they can live properly in Jakarta.This policy was implemented to anticipate the spike in social problems (PMKS) that often occurs after the 2023 Eid al-Fitr festivities. "Make sure you already have a job or skills, so you do not become a PMKS in Jakarta," Awaluddin said in a statement released on Sunday. The office will carry out data collection on newcomers in Jakarta by using their identity card numbers (NIK). ccording to Jakarta Disdukcapil's data on April 26-28, the total number of new arrivals that had been recorded reached 865 people, 848 of whom are permanent migrants, and 17 are non-permanent migrants. waluddin explained that data collection on new arrivals is part of the national program to alleviate extreme poverty and reduce stunting figures. The formulation of this policy is also part of the government's effort to develop a single population data. Moreover, Jakarta Disdukcapil will continue to monitor the development of newcomers' migration flow and coordinate with related offices. "We coordinate with the Jakarta Social Office and Jakarta Empowerment, Child Protection, and Population Control Office to maintain Jakarta as a city that is livable, safe, and comfortable for its residents," Awaluddin said. It was reported that, in its social control process, Disdukcapil cooperates with the local authorities that will directly monitor arrivals who have not reported themselves and urge them to do so. In the statement, Awaluddin noted that in the future, Jakarta will transform to become a global city like other developed cities in the world. "After it is no longer the nation's capital city, Jakarta will become the center of the economy, business, social, and culture," he said. baca-jugaRelated news: Capital relocation chance to revitalize Jakarta better: govtRelated news: Jakarta will not push away newcomers: acting governor

Source: Antara News Agency (ANA)

Ministry partners with BSI, Plasticpay to reduce plastic bottle waste

Jakarta (ANTARA) - Marine Affairs and Fisheries Ministry is cooperating with Plasticpay and Bank Syariah Indonesia (BSI) to reduce plastic bottle waste in Bali, according to Marine Spatial Management Director General Victor Gustaaf Manoppo's statement issued on Sunday.s part of the cooperation, the ministry has introduced plastic bottle recycling technology in the form of a vending machine or Reserve Vending Machine (RVM) to the residents. One of the features offered by the RVM is the exchange of PET (polyethylene terephthalate) plastic bottles for points within the Plasticpay application. "The goal is to promote the use of PET plastic bottles that are more eco-friendly by converting them into points that can be utilized by users," he explained. Plastic waste recycling is one of the priority programs implemented by the ministry in the development of the blue economy, specifically through the plastic waste in the sea cleanup agenda, and through the participation movement of fishermen. single RVM unit located at the front of the main entrance of the Denpasar Shoreline and Marine Resources Management Center (BPSPL) office can be accessed by the general public. Manoppo expects that the provision of the RVM to recycle plastic waste can raise people's awareness, especially in sorting and utilizing plastic waste wisely. The existence of RVM is also expected to provide economic benefits for the people involved in plastic waste management. He informed that, in addition to Bali, the ministry will expand this cooperation to Technical Acting Units (UPTs) spread across Indonesia. He said that this is being done to educate people more on the importance of eco-friendly plastic waste management. Meanwhile, the President Director of PTPlasticpay Teknologi, Daurulang Suhendra Setiadi, explained that, within this cooperation, Plasticpay provides an application that RVM users can utilize to obtain points for every PET plastic bottle they deposit. baca-jugaRelated news: Want to change polluting ways? Show by exampleRelated news: Indonesia looks to develop tech to rid seabed of plastic

Source: Antara News Agency (ANA)

SPPGI encourages increased production of agarwood plantations

Makassar (ANTARA) - Chairman of the Central Leadership Council of the Indonesian Gaharu Farmers and Entrepreneurs Union (SPPGI) Syamsu Alam encouraged the community to increase the production of agarwood plantations for export."This agarwood is in demand by many people because in Islam, agarwood is one of the celestial objects, apart from Zamzam water and black stone," he said here on Sunday. Syamsu Alam, one of the Makassar Bugis Trade Entrepreneurs (PSBM),who has been in the business of processing and exporting agarwood for a long time, encouraged the community to develop this potential. He stated that agarwood has been exported to more than 139 countries, both in Europe, America, the Middle East, and Asia. "Most exports are to the Middle East. For Muslims, agarwood is paradise wood and the main material for making perfumes and also herbal medicines," he said. He said the best price for agarwood is between IDR 20 million (around US$1,363) and IDR 400 million (around US$27,259) per kilogram. He said natural agarwood from Papua is one of the best because it grows in mud, while most natural agarwood grows in plantations and forests. Meanwhile, the price of agarwood from plantation development or cultivation is around IDR 45 million (around US$3,066) to IDR 75 million (around US$5,111) per kilogram. "The aroma of this wood is the same. But agarwood that grows naturally is more expensive, and the most expensive one is from Papua, Kalimantan, and others," he said. "Agarwood from cultivation also smells good, but the price is only tens of millions per kg," he said further. He said that there are not enough special farmers who focus on processing agarwood. Therefore, he encouraged the development of agarwood cultivation. The SPPGI Association is also ready to provide assistance regarding how to plant and care for the wood, he noted. baca-jugaRelated news: BRIN develops artificial agarwood cultivation technique using microbesRelated news: Makassar to host the ASEAN Architect Congress in July 2023

Source: Antara News Agency (ANA)

Makassar’s tourism alley can be a pilot innovation program: Minister

(by participating in Longwis program) even common people can describe the process of lobster and maggot cultivation, it is what makes community involvement extraordinary. Makassar, S Sulawesi (ANTARA) - Home Affairs Minister Tito Karnavian said the Tourism Alley (Longwis) program implemented by the Makassar City Government could become a pilot program for regional innovation."I am proud of the (implementation of) Lorong Wisata concept, initiated by Mayor of Makassar Moh Ramdhan Pomanto," he said here on Saturday, while visiting one of the tourism alleys in the city, Sydney Tourism Alley in Tallo Sub-district, along with a number of regional heads. The minister noted that the Longwis program encouraged the residents to become independent by practising urban farming at the alleys. During the visit, he saw chili, tilapia fish, and lobster farming as well as local culinary delights production. He has expected that the urban farming concept can also be emulated by other regions to resolve their food problems, especially the ones that experience inflation due to lack of supplies of chili. Pomanto has stated that Longwis is a multi-stakeholder innovation program that empowered the community and encouraged the establishment of local independent entrepreneurship. For instance, the community living around Sydney Alley did not come to market to buy food commodities anymore since they already practiced urban farming, he noted. The people had even gained profits from selling the cultivated fish every three months, he continued. The mayor said that by involving the community in the Longwis program, the people could get useful knowledge on urban farming and practice it as their livelihood. "(by participating in Longwis program) even common people can describe the process of lobster and maggot cultivation, it is what makes community involvement extraordinary," he remarked. Regarding the Home Affairs Minister's suggestion for the Longwis to become a pilot program, the mayor has said that his party is ready to assist if the ministry truly makes the program as a pilot. He has stated that his party will also disseminate the implementation of the Longwis program to other regional governments during the implementation of 2023 National Coordination Meeting of Association of Indonesian Municipalities (Apeksi) scheduled to be hosted by Makassar City on July 11-14. The visit to the tourism alley was a series of the Commemoration of XXVII Regional Autonomy Day 2023. During this event, 558 regional heads from various regions throughout Indonesia visited 12 tourism alleys. Currently, there are 1,700 tourism alleys in Makassar City. baca-jugaRelated news: Indonesia engages Netherlands to improve tourism human resourcesbaca-jugaRelated news: Makassar to host the ASEAN Architect Congress in July 2023

Source: Antara News Agency (ANA)

Yoon-Biden summit paves way for bilateral semiconductor partnership

The summit between South Korean President Yoon Suk Yeol and U.S. President Joe Biden has paved the way for the "world's best" bilateral semiconductor partnership, the finance ministry said Sunday.

President Yoon returned home Sunday from a six-day state visit to the United States, together with the chiefs of the country's four major conglomerates Samsung, SK, Hyundai Motor and LG Group.

In one of the visit's major achievements, Seoul and Washington agreed to build a partnership in case of any disruptions in the global supply chains of the cutting-edge semiconductor industry, the Ministry of Economy and Finance said in a statement.

The two countries agreed to cooperate in the fields of next-generation semiconductors, cutting-edge packaging and high-end materials RandD projects to secure leadership in the semiconductor sector, the statement said.

They also agreed to minimize the uncertainties and business burdens of South Korean chipmakers in doing business in the U.S. with regards to the Chips and Science Act, it said.

The Chips act is aimed at boosting the U.S. semiconductor industry by offering ample subsidies to global chipmakers to build chip plants on its soil.

Source: Yonhap News Agency