MEDIDATA PAYMENT SOLUTION ENHANCES PATIENT EXPERIENCE

KUALA LUMPUR, Sept 26 (Bernama) -- Medidata, a Dassault Systèmes brand and provider of clinical trial solutions to the life sciences industry, has launched Medidata Patient Payments, a new solution that streamlines trial-related stipends and reimbursements for patients participating in clinical research.

This offering automates the payment lifecycle and addresses the longstanding challenge of compensating participants for their time, effort, and study-related expenses, while solving for growing concerns around the financial toxicity of clinical trial encounters.

Medidata vice president of Clinical Trial Financial Management, Meghan Harrington in a statement said its Patient Payments solution is a direct reflection of the commitment and passion the company has to deliver an extraordinary patient experience.

“Our partnerships with Medidata’s patient and site advisory boards, coupled with the incomparable data housed within our ecosystem, provide us with a unique opportunity to modernise the financial management experience for patients,” she said.

Medidata Patient Payments delivers an intuitive reimbursement experience for patients, allowing them to quickly submit requests for various expenses, including travel, meals, lodging, lost wages, childcare, and mileage.

Leveraging the power of the Medidata Platform, stipends are automatically triggered by study activities, such as completing a diary or assessment, offering flexibility and convenience.

This integrated approach provides a smooth process, supporting quick implementation and accommodating the preferences of both patients and study sites.

Patient Payments, built on the widely adopted Medidata Platform, offers seamless access via myMedidata for patients and iMedidata accounts for sponsors and sites. Unlike standalone options, it is part of a comprehensive e-clinical suite, enabling robust integration and actionable insights throughout the study lifecycle.

Celebrating 25 years of ground-breaking technological innovation across more than 34,000 trials and 10 million patients, Medidata is headquartered in New York City and has been recognised as a Leader by Everest Group and IDC.

-- BERNAMA

TELEDYNE UNVEILS AI-POWERED SMART CAMERA FOR INDUSTRIAL AUTOMATION, INSPECTION

KUALA LUMPUR, Sept 27 (Bernama) -- Teledyne DALSA, a Teledyne Technologies company and global leader in machine vision technology, has announced its next generation artificial intelligence (AI)-powered BOA3 smart camera for industrial automation and inspection.

“The new BOA3 is an exciting next step in our smart camera development. Its modular and flexible architecture will allow us to offer new and powerful solutions for embedded machine vision inspections,” said Teledyne DALSA Product Line Manager, Vision Systems, Szymon Chawarski.

The new BOA3 smart camera is designed to leverage the best features from previous BOA generations and combine them with new sensor and AI inspection technologies developed by Teledyne.

In a statement, Teledyne DALSA said BOA3 is a highly integrated vision system in a compact, rugged smart camera format designed to meet the needs of the most complex, demanding machine vision applications.

It offers sensor resolutions from 1.2 to 12 megapixels (MP), integrated or C-mount lens options, onboard input/output (I/O), and includes easy-to-use machine vision software, all in one common platform.

Furthermore, BOA3 smart cameras deliver the flexibility and uncompromised functionality to enable quick, cost-effective embedded machine vision deployments.

BOA3 comes with iNspect, an easy-to-use, no-code inspection development software with tools for positioning, part locating, pattern matching, measuring, barcode reading, feature or defect detection, including automatic reading of characters (OCR) based on a pre-trained AI inference network.

The smart camera models with 1.2MP, 5MP, and 12MP monochrome sensors are available now, while colour versions are planned for release at the end of this year. New sensor and lens options will be added to the platform in 2025.

-- BERNAMA

BEST'S SPECIAL REPORT: MORE RATING UPGRADES THAN DOWNGRADES FOR ASIA PACIFIC (RE)INSURERS IN 2023 AMID GEOPOLITICAL UNCERTAINTY

OLDWICK, N.J., Sept 23 (Bernama-BUSINESS WIRE) -- Long-Term Issuer Credit Rating (Long-Term ICR) upgrades exceeded downgrades for AM Best-rated Asia-Pacific (re)insurers in 2023, driving predominantly by improved balance sheet strength and favorable operating performance, according to a new AM Best report.

The Best’s Special Report, “Asia-Pacfic Benchmarking: Positive Signs While Navigating Climate and Geopolitical Uncertainty,” states that eight Long-Term ICRs were upgraded in 2023 with four downgraded on a range of factors, including falling Best’s Capital Adequacy Ratio (BCAR) scores and weakening operating results. Additionally, AM Best assigned 10 new ratings in the region during the year.

AM Best’s geographical rating coverage across Asia and Oceania is broad, and more than 75% of AM Best’s ICRs for Asia-Pacific rating units carried a Long-Term ICR of “a-” or higher, with mature markets skewing more favorably than emerging markets. The report highlights dynamics at work in mature and emerging markets.

“Mature markets generally have more stable economic conditions and insurers may face fewer underwriting risks due to better-established risk management practices, more-accurate actuarial modeling and a deeper understanding of market dynamics,” said David Lopes, senior industry research analyst, AM Best. “At the same time, emerging markets typically have simpler insurance products, resulting in lower probability of adverse claims development, and low insurance penetration.”

The report compares various rating drivers and building-block assessments in aggregate on rated carriers in mature and emerging markets. Despite elevated catastrophe activity in recent years, most outlooks on Asia-Pacific rating units were stable at year-end 2023, at 87%, though a larger proportion of those stable outlooks were for companies operating in mature markets than emerging-market participants. Of the outlook revisions that did occur in 2023, most were moved to positive from stable and on companies operating in mature markets; in particular, New Zealand and Singapore.

The types of companies rated, operating in mature and emerging markets, are diverse and include reinsurers, insurers, mutuals, captives, credit and health insurers, takaful operators and protection and indemnity (P&I) clubs.

To access the full copy of this special report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=347004.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2024 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. 

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MENLO SECURITY NAMED LEADER FOR SECURE ENTERPRISE BROWSING IN GIGAOM RADAR REPORT

KUALA LUMPUR, Sept 23 (Bernama) -- Menlo Security, the pioneer of Secure Enterprise Browsers, has announced its position as a Leader and Fast Mover in the GigaOm Radar Report for Secure Enterprise Browsing.

Specifically, GigaOm recognised Menlo Security’s Secure Enterprise Browser, powered by the Menlo Secure Cloud Browser, as a Leader and Fast Mover in the Innovation/Platform Play quadrant of the Radar chart.

“Being named a Leader and Fast Mover in GigaOm’s Radar Report for Secure Enterprise Browsing validates the benefits of Menlo Security’s trusted and proven approach.

“We continue to address enterprise and government needs, making it easy to manage leading browsers, protecting users and securing access to applications and data, transparent to the end user,” said Menlo Security Vice President of Security Strategy, Andrew Harding.

According to a statement, the Menlo Secure Cloud Browser delivers high-efficacy, artificial intelligence (AI)-driven defences and an easy-to-own solution for secure remote access and zero trust applications.

Menlo also provides comprehensive visibility into browser behaviour and enforces software as a service (SaaS) governance and secure web gateway policy.

With support for both public SaaS and private web applications, Menlo is easy for users and easy on administrators, as the intuitive tile interface and policy-based access make it perfect for contractors, remote teams, and third-party users.

The GigaOm Radar Report evaluates 13 of the top Secure Enterprise Browsing solutions available across a range of criteria, and serves as a resource for security and information technology leaders to make informed decisions regarding available solutions to protect this critical business asset.

-- BERNAMA

SCF Acquires Newpark Resources' Fluids Systems Business

KUALA LUMPUR, Sept 17 (Bernama) -- SCF Partners Inc (SCF) has acquired the Newpark Fluids Systems business (NFS), a global pure-play oil and gas and geothermal fluids solution provider, from Newpark Resources Inc.

NFS provides a full range of drilling and completion products, and related technical services supported by an innovative digital modelling software suite, global supply chain and infrastructure to enhance the efficiency and productivity of its customers’ performance.

SCF Partners Director, Deviyani Misra-Godwin said for over 25 years, NFS has maintained a leading position in the drilling and completions fluids space worldwide, improving customer performance by providing industry-leading service quality.

“NFS’ global footprint, top quartile safety performance, leading portfolio of technology and preeminent position in the growing geothermal space will accelerate success in the evolving energy landscape.

“Together with the leadership team, we look forward to creating tremendous value for our customers and employees in this next chapter of growth,” she said in a statement.

Meanwhile NFS Chief Executive Officer, David Paterson said: “Our global strategic growth plan will now accelerate under a new and focused board with significant energy experience and commitment. SCF’s unsurpassed track record of success in the global energy services industry provides exciting opportunities as we look to the future.”

Vinson & Elkins LLP acted as legal advisor to SCF in the transaction.

Founded in 1989, SCF is headquartered in Houston, Texas, and has invested in over 80 platform companies and made more than 400 additional acquisitions to develop 18 publicly listed energy service and equipment companies over its history.

-- BERNAMA

THE WATCHFUND SG AND KONVI REACH €2 MILLION IN ASSETS UNDER MANAGEMENT

SINGAPORE, Sept 12 (Bernama-BUSINESS WIRE) -- The WatchFund Singapore (SG), the world’s largest luxury watch investment vehicle of its kind, and Konvi, Europe’s leading fractional luxury assets investment platform, have today announced they have jointly reached a milestone of €2 million in Konvi’s watch assets under management (AUM).

Demand for luxury watches as investment vehicles has never been higher, as more investors seek to cash in on the strong returns produced by the asset class. The Swiss watch industry grew by 7.6% last year, reaching record export highs of CHF 26.7 billion. The market is forecast to continue this trajectory with 35% of Gen Z eyeing up luxury watch investments.

The WatchFund SG enables high-net-worth individuals to purchase money-cannot-buy watches or ultra-high-end timepieces at prices that most people can’t obtain. Through this partnership The WatchFund SG is supporting Konvi in its mission to democratise the luxury watch space and empower a broader range of investors with access to these lucrative investment opportunities.

Thanks to this collaboration, retail investors can purchase joint ownership of luxury watches via Konvi for as little as €250. These investors purchase investment-grade watches from The WatchFund SG, which are then securely managed and stored by Konvi. The timepieces are then sold by Konvi after a set appreciation period and profits are returned to investors. Investors on the Konvi platform, through a voting mechanism, will decide as a collective group on all aspects of their investment, such as the watch model itself, accepting a sale offer, and electing the storage solution.

Previous examples of purchased and sold watches from The WatchFund SG include the Cartier Tortue Monopusher Chronograph, the De Bethune DB28 Tourbillon, and the Richard Mille RM-004. Some of these pieces can retail for upwards of €250,000 and, when stored and sold correctly, have historically traded for higher asking prices.

The WatchFund SG Founder, Dominic Khoo, commented: “Our collaboration with Konvi has blown open the doors to a market that has historically only been available to the wealthiest of individuals. This partnership has enabled Konvi to offer what we define as investment-grade watches to a new group of investors in Europe, a segment that we don’t yet have the capability of catering for in Singapore. These purchase milestones are a testament to the rising demand for ultra-high-end timepieces and trading watches as uncorrelated and defensive assets.” 

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QUANTEXA’S GLOBAL PUBLIC SECTOR BUSINESS UNIT TO ENHANCE EFFICIENCY FOR GOVERNMENT AGENCIES

KUALA LUMPUR, Sept 10 (Bernama) -- Quantexa, the global leader in Decision Intelligence solutions, announced it is forming Quantexa Public Sector, a new global business unit dedicated to empowering public sector agencies worldwide to transform government services with artificial intelligence (AI), automation and trusted data.

Quantexa Founder and Chief Executive Officer, Vishal Marria said at present, agencies are increasingly turning to AI to break down data silos and drive better quality insights through augmented and automated decision-making.

“With the formation of our dedicated business unit, we are putting an increased focus on building strong client relations by providing specialised expertise in each region, dedicated customer support, and tailored product innovation that address the specific challenges of government agencies,” he said.

According to a statement, Quantexa is rapidly building a track record of success in the public sector, helping agencies and departments use their cutting-edge Decision Intelligence Platform to better protect and serve more communities while maximising operational efficiencies.

Quantexa public sector clients see success and cost savings achieved across a range of use case scenarios including stopping fraud occurring in tax, grants, and benefits programmes, driving more efficient and effective financial crime and criminal investigations, facilitating the safe and secure movement of people and goods across borders, enriching intelligence operations, and proactive patient care efforts within national health programmes.

The company’s increasing commitment to the public sector comes on the heels of the rapid adoption of AI across government agencies.

Empowering investigative teams and healthcare professionals with critical capabilities such as entity resolution and knowledge graph technologies enables them to cleanse, enrich, match, and understand data by connecting siloed sources and visualising complex relationships in real-world context.

The result is the ability to support multiple use cases from one platform that provides exceptional data accuracy, far better-performing AI models, and effective Gen AI, with intuitive user experiences that improves the ability to collaborate and drives greater effectiveness and efficiency of agency resources.

Quantexa is committed to building a high-impact partner ecosystem to support the unique challenges public sector agencies face, including the need for scalable solutions that work with existing IT infrastructure.

Composed of partners who bring specialised expertise across secure compute, cloud computing adoption, cybersecurity, and managed offerings, Quantexa works with its trusted industry partners to provide unmatched consulting and technology delivery that enhances operational efficiency, champions innovation, and enables agencies to provide better services to the public they serve.

-- BERNAMA

CAIA ASSOCIATION WELCOMES NICK POLLARD AS MANAGING DIRECTOR OF APAC

KUALA LUMPUR, Sept 9 (Bernama) -- The Chartered Alternative Investment Analyst Association (CAIA), the global professional body for the alternative investment industry, announced that Nick Pollard has joined the organisation’s leadership team as Managing Director of Asia Pacific (APAC).

This strategic addition to the team comes as the APAC market emerges as a critical hub for alternative investments, with institutional demand for private capital and diversified strategies continuing to rise.

In a statement, its President and incoming Chief Executive Officer, John L. Bowman said Pollard’s demonstrated leadership is well suited to craft and execute a new strategic blueprint for APAC to ensure the company takes advantage of and serves the population, economic, regulatory, and investment industry tailwinds for that vibrant region.

Meanwhile, Pollard said: “In my experience, APAC investors and investment professionals place huge value on the deep knowledge and global recognition that comes with the CAIA credential. As the industry grows, so will market appetite, and I am thrilled to be joining CAIA and leading this long-term vision across Asia.”

The appointment of Pollard underscores CAIA’s commitment to ensuring that stakeholders across this dynamic region have access to the highest quality education and ethical standards, essential for navigating this evolving investment landscape.

He brings over 15 years of experience in international finance within the APAC region, coupled with a successful seven-year tenure leading the CFA Institute in Asia.

Thus, his extensive background in business development, paired with a deep passion for training, makes him an invaluable asset as CAIA continues to expand its footprint in this key market.

Moreover, the appointment comes at a pivotal time for CAIA as the company anticipates significant growth in the APAC region.

The rise in alternative investment strategies and a shifting investor landscape make it essential that market participants are well-equipped with the knowledge and ethical grounding needed to navigate this evolving environment successfully.

-- 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