NEW R&D CAMPUS AT TECHNOLOGY BASE IN TWENTE

HENGELO, The Netherlands, Sept 4 (Bernama-GLOBE NEWSWIRE) -- Energy management company Lithium Werks B.V. (www.lithiumwerks.com) has announced that it will build a major clean energy research and development (R&D) campus at Twente Airport. “In order to achieve a real transition, from fossil fuels to renewables, energy has to be available in the right place and at the right time,” said the initiator Kees Koolen, chairman of the board, Lithium Werks. “Over the next five years, we will recruit some 2,000 people to develop clean energy technologies at the campus.”

Lithium Werks, which supplies 200 million battery cells to more than 1,000 customers in 50 countries, currently produces lithium iron phosphate batteries, or LFP. For the development of the next generations of batteries, Lithium Werks collaborates with the University of Twente, a pioneer in research in the field of new materials, artificial intelligence and control electronics. The East Netherlands Development Agency Oost NL is investing in Lithium Werks to support the company’s vision of an R&D campus, together with the municipality of Enschede and the province of Overijssel.

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​LITHIUM WERKS AND SUPER B AGREE TO MERGE TO ENABLE GLOBAL ENERGY TRANSITION

HENGELO, The Netherlands, Sept 4 (Bernama-GLOBE NEWSWIRE) -- Energy management company Lithium Werks (www.lithiumwerks.com), known for its Nanophosphate™ Cells and its smart lithium-ion modules, is merging with fellow lithium battery developer and producer Super B (www.super-b.com).

The new global company serves over 1,000 customers in nearly 50 countries and offers jobs to over 550 employees. With more than 400 patents for lithium technology, the company is a leading player when it comes to technical knowhow.

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JUMIO ACCELERATES ITS INVESTMENT IN MACHINE LEARNING AND ARTIFICIAL INTELLIGENCE WITH THE EXPANSION OF AI LABS TO MONTREAL

Jumio’s AI Labs will be dedicated to developing deep learning models and best practices to revolutionize online identity verification and fraud detection

PALO ALTO, Calif., Aug 29 (Bernama-GLOBE NEWSWIRE) -- Jumio, the creator of Netverify™ Trusted Identity as a Service (TIaaS), today announced the launch of Jumio AI Labs in Montreal dedicated to the creation, experimentation, and at-scale deployment of machine learning and deep learning technologies. The new office will expand upon the innovation driven by Jumio’s Vienna-based AI team by building production models that perform three vital functions related to online identity verification: data extraction, fraud detection, and risk scoring.

Jumio’s AI Labs are developing deep learning models to dramatically improve identity verification accuracy and verification speed. The team is led by Labhesh Patel, CTO and Chief Scientist at Jumio, who is expanding his team of machine learning engineers and AI specialists in Montreal to realize this important mission and maintain Jumio’s global leadership in AI-powered identity verification.

Artificial intelligence has already been productionalized to reduce the time it takes to verify an ID document or an online identity which, in turn, is helping Jumio’s customers reduce their abandonment rates and increase new account conversions. In fact, Jumio’s AI models have reduced the average customer transaction time by 7 percent, with more significant reductions planned for the fourth quarter.

“Because of Jumio’s scale and deep experience in ID and identity verification, we have amassed very large datasets that are being leveraged to develop highly predictive AI models,” said Mr. Patel. “Jumio’s AI Labs will build on this experience to further refine our supervised AI models, develop best practices, and continue as a platform of innovation.”

The choice of Montreal as the location of Jumio’s AI Labs was deliberate. In recent years, Montreal has emerged as a major technology hub for AI.  A major reason has been the work of Yoshua Bengio, a professor and researcher at the University of Montreal, a co-founder of Element AI (a company dedicated to advancing cutting-edge AI research), and widely considered one of the fathers of deep learning. This combined with a low cost of living and several large Montreal-based universities and academic institutions,  has led to a convergence of AI talent and research support in the city.

“Jumio’s creation of its AI Labs in Montreal and the investment in research around deep learning are both strong signals of the economic attractiveness of Montreal. This is the result of the city’s ongoing effort to promote a vibrant ecosystem of innovation,” said Hubert Bolduc, President and CEO of Montréal International, an organization dedicated to sparking economic development within Greater Montreal.

Online identity verification — an industry that is expected to grow to $20 billion by 2022 — is evolving as traditional methods of identity verification, such as knowledge-based authentication and two-factor authentication, have fallen out of favor. Jumio’s investment in AI Labs will enable the company to stay at the forefront by creating new models, algorithms, and best practices that will fuel the company’s growth and broader adoption of AI-powered identity verification.

To learn more about Jumio and its award-winning solution, please visit: www.jumio.com/trusted-identity/netverify/.

About Jumio
When identity matters, trust Jumio. Jumio is the creator of Netverify® which enables businesses to increase customer conversions while providing a seamless customer experience and reducing fraud. By combining the three core pillars of ID Verification, Identity Verification and Document Verification, businesses now have a complete solution that allows them to establish the real-world identity of the consumer.

Leveraging advanced technology including augmented AI, biometric facial recognition, machine learning, and human review, Jumio helps organizations to meet regulatory compliance including KYC, AML and GDPR and definitively establish the digital identity of their customers. Jumio has verified more than 130 million identities issued by over 200 countries from real time web and mobile transactions. Jumio’s solutions are used by leading companies in the financial services, sharing economy, cryptocurrency, retail, travel and online gaming sectors. Headquartered in Palo Alto, Jumio operates globally with offices in the US, Europe, and Asia Pacific and has been the recipient of numerous awards for innovation. For more information, please visit www.jumio.com.

Media Contacts

U.S. Media Contact
Jackie Daane
10Fold Communications
Jumio@10fold.com
415-800-5369

Europe Media Contact
Zarina Banu
Fleishman-Hillard Fishburn
zarina.banu@fhflondon.co.uk
+44 (0) 7775 557578
 

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/180775f1-31a5-4add-a0a4-9e4f56ae5908

Source: Jumio Corp.

--BERNAMA

A.M. BEST ASSIGNS CREDIT RATINGS TO THE TOA 21ST CENTURY REINSURANCE COMPANY, LTD.; AFFIRMS CREDIT RATINGS OF THE TOA REINSURANCE COMPANY, LIMITED AND THE TOA REINSURANCE COMPANY OF AMERICA

HONG KONG, Sept 3 (Bernama-BUSINESS WIRE) -- A.M. Best has assigned a Financial Strength Rating (FSR) of A (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a+” to The Toa 21st Century Reinsurance Company, Ltd. (TTFC) (Switzerland). The outlook assigned to these Credit Ratings (ratings) is stable. Concurrently, A.M. Best has affirmed the FSR of A (Excellent) and the Long-Term ICRs of “a+” of The Toa Reinsurance Company, Limited (Toa Re) (Japan) and The Toa Reinsurance Company of America (TRA) (headquartered in Morristown, NJ). The outlook of these ratings is stable. TTFC is a newly added member of Toa Re, of which TRA is the other member.

The ratings of Toa Re reflect the company’s consolidated balance sheet strength, which A.M. Best categorizes as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

Toa Re’s balance sheet strength is assessed at the strongest level, owing to its conservative risk management in its underwriting and investment strategies. The company’s risk-adjusted capitalization has improved significantly in the past five years from stable and positive operating results. Despite a series of catastrophe events in North America, the company maintained profitable underwriting results in fiscal year 2017. Offsetting rating factors include limited growth opportunities in Japan’s domestic reinsurance market and intense competition in the global reinsurance market, owing to abundant capacity.

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Latest oil equipment and technologies at Beijing Exhibition next year

KUALA LUMPUR, Sept 3 (Bernama) -- One thousand and eight hundreds exhibitors including global oil giants will showcase the latest oil equipment and technologies at the 19th China International Petroleum & Petrochemical Technology and Equipment Exhibition (cippe2019) on March 27 to 29, 2019 at Beijing, China.

The global top players includes Saudi Aramco, ExxonMobil, Rosneft, Caterpillar, National Oilwell Varco, Schlumberger, BHGE and others while Chinese giants such as China National Petroleum Corporation, Sinopec, CNOOC will also attend.

The exhibition is to showcase the latest oil equipment and technologies to professional buyers from all over the world as well as to discuss the prospects of the oil and gas industry with industry experts and business representatives, a statement said.

Among the categories on oil and  gas industry chain to be discussed at the exhibition includes petroleum and petrochemical technology and equipment, shale gas technology and equipment, offshore oil and gas technology and equipment, offshore engineering and more.

More than 300 buyer delegations consisting of government agencies, oil associations and NOCs are among the 117,000 visitors to participate at cippe2019. Global buyers from petroleum-related fields like aerospace, military and shipbuilding are also invited for the exhibition.

Also held during the exhibition will be the cippe2019 Exhibits Innovation Awards, the 11th International Petroleum & Natural Gas Summit, 2019 International Petroleum and Petrochemical Technology Conference, cippe2019 Business Matchmaking Meeting and others.

-- BERNAMA

Excellent financial strength rating for INPEX Insurance Ltd

KUALA LUMPUR, Sept 3 (Bernama) -- A.M. Best has affirmed the financial strength rating of A- (excellent) and the long-term issuer credit rating of ‘a-’ of INPEX Insurance Ltd (IIL) Bermuda and the outlook of the ratings is stable.

The ratings reflect IIL’s balance sheet strength, which A.M. Best categorised as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

A.M. Best said in a statement, IIL’s very strong balance sheet assessment mainly reflects its low underwriting leverage and conservative investment portfolio. Given the volume of risks that the company currently writes and retains, the capital required to support its current book of business is relatively modest.

A.M. Best expects IIL’s operating performance to remain profitable, although the company’s underwriting results also likely will remain volatile until the company can achieve much greater scale.

The stable outlook reflects A.M. Best’s expectation that IIL will continue to deliver consistently positive operating results, supported by a return to growth with strong underwriting margins and stable investment yields.

IIL is a single-parent captive of INPEX CORPORATION (INPEX), which is the largest oil and gas exploration and production company in Japan. In its role as a single-parent captive, it provides coverage that mainly consists of property damage, third-party liability and operator’s extra expenses for its parent, its affiliates and joint-venture companies.

A.M. Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit www.ambest.com for more information.

--BERNAMA

A.M. Best adds Doron Grossman to its Asia Pacific operations

KUALA LUMPUR, Sept 3 (Bernama) -- A.M. Best has appointed Doron Grossman to its Asia Pacific operations as director, market development – South East Asia, effective Aug 17, 2018 .

Managing director of A.M. Best Asia-Pacific, Jose Ribeiro said the company look  forward to working with Doron Grossman to support their franchise growth across the South Asia and Oceania insurance and reinsurance markets.

Based in Singapore, Grossman’s primary responsibilities will include the development and implementation of strategic initiatives to reinforce and enhance A.M. Best’s business activities and profile across Southeast Asia, Australia and New Zealand, a statement said.

He has a career in the insurance and reinsurance industries spanning more than 35 years, including periods of work based out of Australia, Europe and Singapore as well as across a breadth of industry sectors.

A.M. Best is a global rating agency and information provider with a unique focus on the insurance industry. More details at www.ambest.com.

--BERNAMA