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.

Media Relationships Manager

Steve Hughes

GlobeNewswire Distribution ID 8828626

Cambodia hosts Mekong Tourism Forum 2023

The Mekong Tourism Forum 2023 opened in Cambodia’s southwestern port city of Sihanoukville this week, attracting some 250 delegates from 19 countries and regions.

The two-day forum, hosted by Cambodia’s Tourism Ministry with the theme of “Rethinking for Resilience and Digitalization,” served as a forum for regional tourism stakeholders to discuss strategies to boost the development of the regional tourism industry in the post-pandemic era.

Tourism Minister Thong Khon said this is the third time that Cambodia has hosted the forum, which is vital for tourism insiders to share best practices, experiences, and current status of tourism development within the Greater Mekong Subregion (GMS).

The minister noted his hope that key stakeholders from public and private sectors gathering together today will create a unique opportunity to spearhead innovative and collaborative frameworks for tourism recovery towards resilience in the post-COVID-19 era.

He said as the pandemic has been brought under control throughout the GMS, it is essential for all GMS member countries to work for the idea “Six Countries, One Destination” via the implementation of the GMS Tourism Recovery Communications Plan.

The GMS has six countries, namely Cambodia, China, Laos, Myanmar, Thailand, and Vietnam./.

Source: Vietnam News Agency

National strategy targets sustainable use of maritime resources

The Government has recently issued a resolution approving the strategy on sustainable exploitation and use of maritime resources and protection of maritime environment by 2030 with a vision towards 2050.

According to Resolution No. 48/NQ-CP dated April 3, maritime resources will be used effectively and equally in service of socio-economic development in line with national defence and international cooperation.

Marine pollution is to be reduced significantly, marine biodiversity will be protected, and the impacts of natural disasters will be minimised, towards turning Vietnam into a wealthy nation based on the sea.

Specifically, by 2030, maritime resources should serve sea-based economic sectors such as tourism and services, exploitation of oil and gas and other natural resources, aquaculture, renewable energy; and improve living standards in the community.

Notably, 100% of hazardous waste and household solid waste in coastal urban areas will be collected and treated in line with environmental standards, and all of economic and industrial zones, and coastal urban areas will be planned and built in a sustainable, ecological, smart and climate-adaptive manner.

By 2050, maritime resources will be used effectively to turn Vietnam into a sea-based wealthy nation, with marine biodiversity conserved and the harmony of society and nature sustained.

The resolution also sets out the task of responding to climate change and sea level rise, basic study of seas and islands, and international cooperation./.

Source: Vietnam News Agency

NA Chairman concludes official visits to Cuba, Argentina, Uruguay

National Assembly Chairman Vuong Dinh Hue arrived at Noi Bai International Airport, Hanoi, on April 29 night, concluding his successful official visits to Cuba, Argentina and Uruguay.

The visits, from April 18-28, were made at the invitation of President of the National Assembly of People’s Power of Cuba Esteban Lazo Hernandez, President of the Chamber of Deputies of Argentina Cecilia Moreau, and Speaker of the Senate of Uruguay Beatriz Argimon Cedeira.

The trip featured nearly 80 activities of the Vietnamese top legislator, some 40 of ministries, agencies and localities, and about 30 cooperation agreements, at both central and local levels, signed.

It reaped practical, comprehensive results in all the channels of Party, legislature, government and people-to-people exchange, and all pillars of relations, helping open up new opportunities for Vietnam and its partners to foster effective, substantive and mutually beneficial cooperation. The trip also created an important political foundation to deepen relations between Vietnam and the three countries in the time ahead.

Notably, apart from bilateral collaboration, the results reached the regional and international levels such as cooperation between Southeast Asia and Latin America, Vietnam and the Southern Common Market (MERCOSUR), South-South cooperation, and coordination within the United Nations (UN), the Forum for East Asia-Latin America Cooperation (FEALAC), and the World Trade Organisation (WTO).

During talks and meetings with senior leaders of the three, the hosts affirmed the importance they attach to Vietnam’s position and role, and expressed their wish to coordinate with Vietnam at regional and international forums and in settling global challenges.

On this occasion, the NA Chairman met with representatives of Vietnamese communities in the host countries.

The trip offered an opportunity for Vietnamese leaders to spread the message of Vietnam’s stance on some regional and international issues of shared concern.

For legislative cooperation, the NA Chairman signed cooperation agreements with leaders of legislatures of the three countries, which stressed the exchange of all-level delegations, experience in law making, coordination in supervising the roll-out of signed agreements and treaties, as well as coordination at multilateral parliamentary forums.

The trip materialised the foreign policy set at the 13th National Party Congress that is enhancing relations with traditional Latin American friends, including Cuba, Argentina and Uruguay./.

Source: Vietnam News Agency

ASEAN, RoK youths attach importance to economic cooperation opportunities

Roundtable Discussions on the Results of the Survey on Mutual Perceptions of ASEAN and Korean Youths have been organised by the ASEAN-Korea Centre at the Press Room of Korea Press Centre in Seoul.

The roundtable presented the findings of the 2022 Survey on Mutual Perceptions of ASEAN and Korean Youths conducted through focus group interviews (FGIs), which is a follow-up survey to the first quantitative research done in 2021.

Speakers from the media, academia, government organisations, and youths participated in the roundtable discussions to exchange views on the current perceptions of youths on ASEAN and the RoK, as well as share ideas for shaping balanced and equal mutual perceptions and awareness among the youths of the two regions.

As the important role of youth has been emphasised for building a sustainable and mutually beneficial partnership between ASEAN and the RoK, there is also a growing recognition on the need to build balanced mutual perceptions among the youths.

As such, the ASEAN-Korea Centre implemented two survey projects (2021-2022) to identify the current status of mutual perceptions between ASEAN and Korean youths and to suggest ways for improving perceptions.

The 2022 qualitative survey was implemented through FGIs with 147 youths of ASEAN and the RoK, and was designed as a follow-up to the initial key findings from the 2021 quantitative survey.

Three main areas were covered in the FGIs, specifically on the perceptions of ASEAN and the RoK, youths exchanges between ASEAN and the RoK, and ASEAN-RoK cooperative relations.

Results from the 2022 survey identified that ASEAN and Korean youths showed differences in their mutual perceptions for one another, and that such differences stem from the imbalance in frequency and scope of exposure to information and content about one another.

Meanwhile, youths of both ASEAN and the RoK also regarded each other as trustworthy partners based on the recognition of abundant opportunities for economic cooperation as well as less political interests. However, despite such trust, youths still did not perceive each other as equal partners and thus may not prioritise cooperation with each other. This is due to their perceptions of different needs caused by differences in economic development and the lack of accurate recognition of each other´s values.

To bridge such gaps, the survey publication highlighted some potential policy recommendations minimising the asymmetry, providing quality contents that promote accurate perceptions and the promotion of collaborations and cooperation among relevant organisations, as well as increasing youth exchange programmes./.

Source: Vietnam News Agency

DILG launches BIDA program vs. illegal drugs in Dagupan

A fun run participated in by about 12,000 here launched the ‘Buhay Ingatan, Droga’y Ayawan’ (BIDA) program of the Department of the Interior and Local Government (DILG) against illegal drugs on Sunday. In a press conference, DILG Secretary Benhur Abalos said the BIDA program addresses the demand-reduction side in the war against illegal drugs through interventions. He said this can be done by addressing the root cause and providing employment opportunities and education to the grassroots or communities. ‘While the law enforcers do their job, we are addressing the demand. At the barangay (village) level alone, the Barangay Anti-Drug Abuse Council already identified the users and pushers. If they want to change, the Department of Trade and Industry and the Department of Labor and Employment would intervene,’ he said. He said to prevent younger people from being involved in illegal drug use, community sectors must strengthen their resolve to say no to harmful vices. ‘Young people aged 15 to 25 are targets. It starts primarily through peers, through experimental drugs,’ he added. Abalos said BIDA can empower the youth through sports, arts, and culture. BIDA, which started in October 2022, is a response to the order of President Ferdinand R. Marcos Jr. to strengthen the government’s anti-drug campaign by focusing on arresting drug lords, rehabilitating users and reducing demand. Based on data, Abalos said 70 percent of those in jails are drug-related cases; 28 to 30 percent are repeat offenders; and 40 to 60 percent sadly return to rehabilitation centers. Dagupan Mayor Belen Fernandez is hopeful that the city would soon be drug-cleared.

Source: Philippines News Agency