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

Japan PM Kishida arranging S. Korea trip in early May: Japanese media

Japanese Prime Minister Fumio Kishida could make his first visit to South Korea since taking office in early May to hold a summit with President Yoon Suk Yeol, Japanese media reported Sunday.

The Yomiuri Shimbun cited multiple diplomatic sources saying Kishida’s visit could take place on May 7 or 8 to reciprocate Yoon’s visit to Tokyo in March. If realized, the trip will mark Kishida’s first to South Korea since taking office

Several other newspapers also carried similar reports.

The last visit by a Japanese prime minister to South Korea was made by Shinzo Abe in February 2018.

Yoon held a summit with Kishida in Tokyo in March in the wake of his government’s decision to compensate Korean victims of Japanese wartime forced labor without contributions from Japanese firms.

Yoon was the first South Korean president in 12 years to make a bilateral visit to Japan, as the two countries’ relations had been strained over a series of historical disputes stemming from Tokyo’s 1910-45 colonial rule of the Korean Peninsula.

The two leaders agreed during their summit to resume shuttle diplomacy, or regular visits to each other’s countries.

This file photo shows South Korean President Yoon Suk Yeol (L) and Japanese Prime Minister Fumio Kishida holding talks in Tokyo on March 16, 2023.

Source: Yonhap News Agency

WOMAN WITH VITILIGO DETERMINED TO BREAK BEAUTY STEREOTYPES

Suffering from vitiligo which causes white patches on her skin is not an obstacle for Siti Nuur Hidayu Muhammad, 33, to dabble in the world of modelling and further break the stereotypes of the field.

Starting to suffer from vitiligo which causes the skin to lose colour or depigmentation when she was 19, Siti Nuur Hidayu, instead of wallowing in self-pity, decided to turn her condition to her advantage.

Working as an assistant manager at a digital economy centre, she decided to use the glamorous field of modelling as a platform to give exposure to the public about the disease.

Often sharing her journey as a vitiligo patient through blog writing and social media, Siti Nuur Hidayu, a holder of a Bachelor’s Degree in Animal Science from Universiti Putra Malaysia, also wants to inspire individuals experiencing the same fate to not feel left out and insecure.

“True, it is not easy to face the negative perspective of society. In fact, I have been rejected by a number of people because of my condition, but that only strengthens my determination,” she told Bernama.

She said that due to lack of exposure, some were afraid to approach her because they thought the disease was dangerous and contagious.

There were also those who looked down on her because of the physical difference, she added.

“Vitiligo is not a hereditary disease because no member of my family has the disease, instead it is related to an autoimmune disorder,” she said.

“At first I didn’t even know about it and noticed a white spot appeared on my hand after being injured by a machete.

“I thought it was normal but over time the spots spread to other parts of my body,” she said.

Recalling her early involvement in her modelling career in 2018, the mother of two said that she never expected to venture into the glamorous field since she is a shy person.

She also said that she was a little awkward acting in front of the camera at the beginning of her involvement. However, she said that she managed to overcome that through the training given by the agency.

“I remember seeing an advertisement looking for models for those with special physical characteristics, so I tried my luck by filling out the form and didn’t expect to be called for an audition.

“I didn’t expect to be accepted. Even when taking selfies, I lacked confidence, but now I can make this career as a source of side income,” she said.

Siti Nuur Hidayu can also now be proud of herself for being selected as a stock photos model such as iStock and Canva for the international market and being the face of choice for the campaigns of several local cosmetic brands.

She hopes that by being involved in the field, she will be able to open the eyes and minds of the community about vitiligo and will give a better future to future generations who are suffering a similar fate.

“We need to celebrate differences, in terms of physicality, interests and so on, and not pushing those who are seen as different aside,” she said.

Source: BERNAMA News Agency

3.1 magnitude quake hits central province: weather agency

A 3.1 magnitude earthquake struck the central province of North Chungcheong on Sunday, but no damage has been reported, authorities said.

The quake occurred in an area 16 kilometers east of Okcheon, 149 km southeast of Seoul, at 7:03 p.m., according to the Korea Meteorological Administration.

The epicenter was at 36.32 degrees north latitude and 127.75 degrees east longitude, and the depth was 6 km, the agency said.

Fire authorities said they received 80 calls following the quake but no damage had been reported as of 7:10 p.m.

The quake is the biggest one to occur in the province since a 4.1 magnitude earthquake that occurred on Oct. 29 last year.

It is the third biggest quake to occur this year on the Korean Peninsula and its nearby waters this year.

Source: Yonhap News Agency

CA affirms dismissal of ‘disobedient’ coop agency chair

The Court of Appeals (CA) turned down a suit filed by former Cooperative Development Authority (CDA) chair Orlando Ravanera questioning the Ombudsman decision that slapped him with a guilty verdict and dismissal due to his involvement in a dispute within the Davao Del Norte Electric Cooperative, Inc. (Daneco).

The CA 21st Division denied Ravanera’s petition and affirmed the 2019 decision of the Office of the Ombudsman (OMB) finding him guilty of grave misconduct and gross neglect of duty.

‘All told, this Court finds no reason to disturb the rulings of the OMB,’ the CA said in its decision dated April 20 and made public Friday.

The case arose from a complaint filed by Daneco member-consumers, represented by its chief operations manager Emmanuel Galarse, which had a dispute with the general manager and 10 Board members.

The member-consumers group sued the other group before the National Electrification Administration (NEA) in 2011 for grave misconduct because of alleged anomalous contracts.

In April 2012, the NEA rendered a guilty verdict against the general manager’s group and penalized them with dismissal.

The embattled group then called for a referendum for the conversion of Daneco into a stock cooperative to be registered with the CDA, which issued a certificate of registration also in 2012.

The aggrieved members naturally protested and secured from a temporary restraining order from the CA in 2013. The referendum was also declared illegal.

Still, Ravanera went ahead with the certificate of registration and ordered the reopening of Daneco offices in 2015.

He countered that since Daneco was already registered with the CDA, the NEA had no authority to cancel the registration since this power is within the jurisdiction of the CDA.

The complainants said the involvement and participation of Ravanera emboldened Daneco to commit illegal acts, like collecting power bill payments, issuing fabricated receipts and illegal reconnections of disconnected power service lines, which caused them financial distress.

The OMB said Ravanera is liable for grave misconduct and gross neglect of duty and was ordered dismissed from service.

‘Indubitably, petitioner Ravanera grossly disregarded the orders of this court and of NEA showing his disrespect to the lawful authorities, and was remiss in his duty in strictly observing the said directives,’ the CA said.

Source: Philippines News Agency

New PNP chief eyes reshuffle of senior officials

Philippine National Police (PNP) chief Gen. Benjamin Acorda Jr. has started reviewing the performance of key officials that may eventually lead to a reshuffle of top positions.

PNP’s Public Information chief, Col. Redrico Maranan, said Acorda wants to see the “statistics of the accomplishments” of PNP commanders before making a decision on the possible movement.

“As of now, there is no major reshuffle that is happening. He wants to see first the performance of field commanders. He said he’s going to look at the numbers,” Maranan said in a radio interview on Sunday.

The Chief PNP will go through the accomplishments of all regional directors first, which will be used as his basis on whether to effect organizational movement or not.

Acorda’s predecessor, Gen. Rodolfo Azurin (ret.), effected a major reshuffle involving 80 generals and colonels just a week into his appointment in August last year.

But Maranan said this may not happen in the case of Acorda, at least for now.

Should there be organizational change, it will happen because several senior officials are soon to retire, Maranan said.

“We need to fill up the vacancies that will be caused by these retirements. Many third-level officers (colonels and generals) are retiring this year and because of that, we cannot avoid minor reassignments,” he said.

Meanwhile, senior officers need to wait a little more for the approval of their promotions as they are being carefully reviewed.

The PNP leadership wants to make sure that officers who will be promoted are cleared from involvement in illegal activities, particularly drugs, Maranan said.

Source: Philippines News Agency