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Business Culture

Optimum announces Vic Pascarelli as Vice President, General Manager of Northeast Area

Pascarelli now leads local sales, operations, and engagement efforts across Optimum’s New York, New Jersey, and Connecticut footprint

 

BETHPAGE, N.Y. — (BUSINESS WIRE) — Optimum, the local provider of internet, mobile, TV, and phone services, today announces the appointment of Vic Pascarelli as Vice President, General Manager of the company’s Northeast Area serving New York, New Jersey, and Connecticut.

As Vice President, General Manager, Pascarelli is responsible for overseeing local sales, operations, and engagement efforts across the area, ensuring best-in-class service and support to the more than 240 communities Optimum serves across the Northeast Area.

 

It’s an honor to join Optimum at this exciting time in the company’s history,” said Vic Pascarelli, Vice President, General Manager of Optimum Northeast. “I’m looking forward to leaning into the unique needs of customers throughout Optimum’s footprint in the Northeast and guiding local teams in our efforts to deliver the very best in service and support as we cement Optimum as the connectivity provider of choice across every community we serve.”

 

Pascarelli joins Optimum after a 20-year career with Comcast, where he held a variety of senior sales, marketing, and operations leadership roles in markets across the company’s footprint. Prior to his time with Comcast, Pascarelli was the Director of Marketing for the Au Bon Pain Corporation, and earlier in his career, spent time at Continental Cablevision and American Cablesystems in various GM, sales, and marketing positions.

 

I’m thrilled to welcome Vic to Optimum as Vice President, General Manager of our Northeast Area,” said William Sweeney, Senior Vice President, Optimum. “Vic is an industry veteran and a skilled and experienced leader who brings with him decades of knowledge and expertise that will be invaluable to Optimum as the company takes on a renewed regional, local, and hyperlocal approach to bringing the best connectivity solutions to customers throughout the Northeast Area.”

 

Pascarelli is based out of the company’s Bethpage, New York offices.

 

About Optimum

Optimum is a brand of Altice USA, one of the largest broadband communications and video services providers in the United States, delivering broadband, video, and mobile services to approximately 4.8 million residential and business customers across 21 states. The company operates a4, an advanced advertising and data business, which provides audience-based, multiscreen advertising solutions to local, regional and national businesses and advertising clients. Altice USA also offers hyper-local, national, international and business news through its News 12, Cheddar News and i24NEWS networks.

Contacts

Raffaella Mazzella: +1 561-817-5813

Raffaella.mazzella@alticeusa.com

Erin Smyth: +1 917-565-2480

Erin.smyth@alticeusa.com

Categories
Business Economics Lifestyle Regulations & Security

AM Best upgrades credit ratings of Assurant, Inc. and its property/casualty subsidiaries; affirms credit ratings of its life/health subsidiaries

OLDWICK, N.J. — (BUSINESS WIRE) — #insuranceAM Best has upgraded the Financial Strength Rating (FSR) to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long Term ICR) to “aa-” (Superior) from “a+” (Excellent) of the U.S. property/casualty (P/C) subsidiaries of Assurant, Inc. (Assurant) (headquartered in Atlanta, GA) [NYSE: AIZ].

 

These companies are collectively referred to as Assurant P&C Group (Assurant P&C). At the same time, AM Best has upgraded the Long-Term ICR to “a-” (Excellent) from “bbb+” (Good) and all associated Long-Term Issue Credit Ratings (Long-Term IR), indicative Long-Term IRs and the Short-Term IR of Assurant. The outlooks of all the above Credit Ratings (ratings) have been revised to stable from positive. (See below for a detailed list of the companies and Long- and Short-Term IRs.)

 

Concurrently, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICRs of “a” (Excellent) of Assurant’s credit and life/health (L/H) subsidiaries: American Bankers Life Assurance Company of Florida (Miami, FL) and Caribbean American Life Assurance Company (San Juan, PR) collectedly known as Assurant Lifestyle. The outlook of these ratings is stable.

 

The ratings of Assurant P&C’s reflect balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management (ERM).

 

The rating upgrades of Assurant P&C reflect an improved assessment of the group’s balance sheet strength, which is currently assessed at very strong and is supported by risk-adjusted capitalization at the strongest level. This enhanced view of balance sheet strength also considers the group’s very strong earnings power, strong positive cash flows and new capital formation–the majority of which is derived from low-risk businesses, with limited volatility. Assurant’s property catastrophe exposure, which stems mostly from its lender placed homeowners’ business in global housing, is well-managed and adequately reinsured. Assurant’s operating performance has also benefited from earnings diversification and management’s strategy to partner with market leaders. As a result, Assurant P&C consistently outperformed its peers and generated superior returns on capital.

 

The ratings of Assurant Lifestyle reflect its balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and appropriate ERM. Assurant Lifestyle also receives one level of rating enhancement from its affiliate, Assurant P&C, as it is considered important to the Assurant brand as a licensed credit life and credit accident & health insurer business.

 

The FSR has been upgraded to A+ (Superior) from A (Excellent) and the Long-Term ICRs to “aa-” (Superior) from “a+” (Excellent) with outlooks revised to stable from positive for the following P/C subsidiaries of Assurant, Inc.:

  • American Bankers Insurance Company of Florida
  • American Security Insurance Company
  • Standard Guaranty Insurance Company
  • Caribbean American Property Insurance Company
  • Voyager Indemnity Insurance Company
  • Virginia Surety Company, Inc.
  • Reliable Lloyds Insurance Company

 

The following Short-Term IR has been upgraded:

Assurant, Inc.—

— to AMB-1+ (Strongest) from AMB-1 (Outstanding) on commercial paper

The following Long-Term IRs have been upgraded, with outlooks revised to stable from positive:

Assurant, Inc.—

— to “a-” (Excellent) from “bbb+” (Good) on USD 300 million 4.90% senior unsecured bonds, due 2028

— to “a-” (Excellent) from “bbb+” (Good) on USD 300 million 4.20% senior unsecured bonds, due 2023 (USD $50 million outstanding)

— to “a-” (Excellent) from “bbb+” (Good) on USD 350 million 3.70% senior unsecured bonds, due 2030

— to “a-” (Excellent) from “bbb+” (Good) on USD 475 million 6.75% senior unsecured bonds, due 2034 (USD 275 million outstanding)

— to “bbb+” (Good) from “bbb” (Good) on USD 400 million 7.00% subordinated bonds, due 2048

— to “bbb+” (Good) from “bbb” (Good) on USD 250 million 5.25% subordinated bonds, due 2061

The following indicative Long-Term IRs on securities available under the shelf registration have been upgraded, with outlooks revised to stable from positive:

Assurant, Inc.—

— to “a-” (Excellent) from “bbb+” (Good) on senior unsecured

— to “bbb+” (Good) from “bbb” (Good) on subordinated debt

— to “bbb” (Good) from “bbb-” (Good) on preferred stock

 

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

 

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 © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Jieqiu Fan
Associate Director
+1 908 882 1762
jieqiu.fan@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

Daniel J. Ryan
Senior Director
+1 908 882 2290
daniel.ryan@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com

Jeffrey Lane
Senior Financial Analyst
+1 908 882 1994
jeffrey.lane@ambest.com

Categories
Business Culture Economics International & World Lifestyle Regulations & Security Technology

Agam Capital advises PFI in its formation and launch of Prismic Life Reinsurance, Ltd.

TEANECK, N.J. & NEWARK, N.J. & HAMILTON, Bermuda — (BUSINESS WIRE) — Agam Capital “(Agam),” an analytics driven platform strategically partnering with insurance companies to explore opportunities to enhance their financial flexibility, is advising Prudential Financial, Inc. “(PFI),” a US-based global financial services leader and premier active global investment manager, in the formation and launch of Prismic Life Reinsurance, Ltd. “(Prismic),” a Bermuda-domiciled Class E life and annuity reinsurer.

 

This strategic engagement leveraged Agam’s unique pALM analytical platform and differentiated capabilities to support PFI in the development and establishment of a differentiated new entrant to the vibrant and fast-growing market for life and retirement reinsurance solutions in Bermuda.

 

Separately, Agam and Prismic have entered into a long-term Management Services Agreement “(MSA)” whereby Agam will continue to leverage its industry-leading asset and liability management and enterprise risk management expertise to support Prismic and its future growth.

 

Agam’s Co-Founders, Chak Raghunathan and Avi Katz, said, “The launch of Prismic is a milestone event in the continued growth of the Bermuda reinsurance market. We are thrilled to have been a key part of PFI’s strategic process in the exploration, diligence and launch of Prismic and are excited for our future engagement working with Prismic CEO Amy Kessler and her team to continue to build Prismic into one of the leading Bermuda-based reinsurance platforms.”

 

Robert Falzon, vice chair of PFI, said: “Agam played a critically important role in the creation of Prismic, providing third-party integrated asset, liability, capital, and risk analytical tools that greatly facilitated decision-making throughout the process. We are excited that Agam will partner with Prismic going forward to enable the platform to grow, and in support of PFI’s vision to be a global leader in expanding access to investing, insurance, and retirement security.”

 

About Agam Capital

Agam was founded in 2016 by Avi Katz and Chak Raghunathan with the vision to create a cutting edge differentiated analytical platform. The execution towards this vision continued with the development of pALM, Agam’s proprietary asset and liability management (ALM) system. Offering the only end-to-end enterprise wide risk and capital analytic solution, Agam empowers strategic decision makers towards their capital optimization goals. With a fully embedded dynamic strategic asset allocation (SAA) and enterprise risk management (ERM) infrastructure, pALM supports Agam’s ability to offer one stop, turnkey insurance solutions.

 

Agam’s team of experts have a global reach with offices in the USA, Canada, Bermuda and India. In addition, Agam ISAC Bermuda, which offers a comprehensive suite of operational, management and governance services to Bermuda based reinsurers, is fully licensed as a Class E insurer by the Bermuda Monetary Authority (BMA).

 

About PFI

Prudential Financial, Inc. (NYSE:PRU), a US-based global financial services leader and premier active global investment manager with approximately $1.4 trillion in assets under management as of June 30, 2023, has operations in the United States, Asia, Europe and Latin America. PFI’s diverse and talented employees help makes lives better and create financial opportunity for more people by expanding access to investing, insurance, and retirement security. PFI’s iconic Rock symbol has stood for strength, stability, expertise, and innovation for nearly 150 years. For more information, please visit news.prudential.com.

 

PFI Forward-Looking Statements

Certain of the statements included in this release, such as those regarding the launch of Prismic, reinsurance transactions involving Prismic, the provision of asset management services to Prismic, the anticipated increase in PFI’s underwriting capabilities, equity investments in Prismic by global investors and other institutions, the leadership and operation of Prismic following its launch, and the impact of Prismic on PFI’s business and strategy, constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words such as “expects,” “believes,” “anticipates,” “includes,” “plans,” “assumes,” “estimates,” “projects,” “intends,” “should,” “will,” “shall” or variations of such words are generally part of forward-looking statements. PFI’s forward-looking statements are made based on management’s current expectations and beliefs concerning future developments and their potential effects upon PFI and its subsidiaries. There can be no assurance that future developments affecting PFI and its subsidiaries will be those anticipated by management. These forward-looking statements are not a guarantee of future performance and involve risks and uncertainties, and there are certain important factors that could cause actual results to differ, possibly materially, from expectations or estimates reflected in such forward-looking statements. Certain important factors that could cause actual results to differ, possibly materially, from expectations or estimates reflected in such forward-looking statements can be found in the “Risk Factors” and “Forward-Looking Statements” sections included in PFI’s Annual Report on Form 10-K. PFI does not undertake to update any particular forward-looking statement included in this document.

 

Prudential Financial, Inc. of the United States is not affiliated in any manner with Prudential plc, headquartered in the United Kingdom, or the Prudential Assurance Company, a subsidiary of M&G plc, headquartered in the United Kingdom.

Contacts

Chak Raghunathan | Co-Founder, Managing Partner

Agam Capital Management, LLC

craghunathan@agamcapital.com

Laura Edling | Director, Financial Communications

PFI

laura.edling@prudential.com

Categories
Business Culture Digital - AI & Apps Economics Lifestyle Technology

Fifty percent of online stores collapse within 6 months: ‘Customer Commerce’ rescues SMBs

The struggles of small-to-medium businesses (SMBs) to sustain growth and longevity, with a shocking 50% of online stores shutting down within 6 months, prove that website speed and performance are critical factors that can make or break an SMB’s online success.

 

Slow-loading websites lead to $2.6 billion in revenue losses annually.

  • The conversion rate for website visitors making online purchases is only 3.71%.

 

 

“Customer Commerce” is an affordable solution that is built on the foundation of establishing personalized customer relationships and providing tailored service.

 

It is a revolutionary, user-driven approach that empowers SMBs to forge connections with a brand-new range of customers that were previously out of reach.

 

“These alarming statistics highlight the uphill battle SMBs are currently facing,” explains Mikel Lindsaar, Founder and CEO of StoreConnect. “SMBs need a self-contained e-commerce solution called “Customer Commerce” without endless plug-in needs that slow down sites and lose customers.”

StoreConnect recently secured $9 million in funding in a seed round led by Bellini Capital to address the challenges faced by SMBs due to slow website speeds, stemming from unoptimized site content and excessive plugins through “Customer Commerce.”

  • Customer Commerce will liberate SMBs from the challenges of complex SaaS solutions and overwhelming plugin options.
  • SMBs do not need to collect data from different sources and can access consolidated customer data from one single platform.
  • They do not need to migrate across multiple applications and can save valuable time and money and build customer loyalty.

Having an optimized website is crucial for overall growth and success to enable a curated online customer experience, grow a brand, expand the reach, and increase profits.

  • 88% of online shoppers do not revisit a website after a bad experience.
  • 40% of online shoppers leave a site if takes more than 3 seconds to load.

Lindsaar states that SMBs’ fractured complexities can only be resolved through a fast and comprehensive all-in-one solution – “Customer Commerce.”

Mikel Lindsaar can further explain the features of Customer Commerce and how it can revolutionize SMBs. 

He can answers questions on the topics below:

  • What are the specific challenges that SMBs face when dealing with complex SaaS solutions, plugins, and slow website speed that adversely impact their growth?
  • In what ways does StoreConnect plan on utilizing the seed funding to develop “Customer Commerce” to help SMBs establish personalized customer relationships?
  • How does “Customer Commerce” aim to streamline the customer data collection and management process for SMBs?
  • How does “Customer Commerce” address the fragmented complexities that SMBs often encounter, and how does it provide a comprehensive solution?
  • In what ways does StoreConnect ensure that businesses can transition seamlessly to “Customer Commerce” without disrupting their existing operations?

About StoreConnect:

Mikel Lindsaar is the CEO and Founder of StoreConnect, a Salesforce Partner Innovation Award Recipient. Mikel is a serial technology entrepreneur having successfully built and sold four SaaS companies within the last decade. StoreConnect has one goal: to help small and medium-sized businesses become scalable Customer Companies powered by Salesforce. Clients achieve this daily by breaking free of the shackles of what Mikel calls “Plugin Purgatory and SaaS Hell.” StoreConnect clients don’t need multiple SaaS systems connected by plugins to manage their online, in-store POS and in-person Customer Commerce business systems. Many of today’s eCommerce solutions are designed to get up and running quickly and inevitably hit a brick wall of scalability and extensibility as companies grow. That’s why StoreConnect is built on the world’s #1 CRM, so its customers will never need to re-platform no matter how fast they grow in size, product offerings or regions. Global growth now has no barriers for any SMB. Being built on Salesforce allows StoreConnect customers to update their websites, funnels and content in real time, providing an unparalleled competitive advantage. StoreConnect is Time. Well Spent. Visit https://getstoreconnect.com/

 

References:

  1. Hannay. C, Durrani. T & Singh, M. Shopify has a growing problem with customer retention, Globe data study shows. October 22, 2022. The Globe and Mail. https://www.theglobeandmail.com/business/article-shopify-customer-retention-problem/
  2. Haan, Kathy. Top Website Statistics For 2023. February 14, 2023. Forbes Advisor. https://www.forbes.com/advisor/business/software/website-statistics/
Categories
Business Digital - AI & Apps Lifestyle Science Technology

Global TikTok downloads hit 3-year high, averaging 2.7 million daily

In a world where social media platforms vie for attention and engagement, TikTok is emerging as a true juggernaut, captivating audiences with its short-form videos. The platform has had a remarkable journey since its launch, recording significant downloads despite several challenges, such as content regulation.

 

As per data acquired and calculated by Finbold, TikTok’s global quarterly downloads for Q2 2023 reached the highest figure in the past three years, totaling 260.8 million downloads. This value equates to an average of 2.7 million downloads throughout 2023. What’s more, these download figures indicate a year-over-year growth of 17.86% compared to the Q2 2022 value of 221.3 million. In the first half of 2023, the app garnered a total of 503.52 million downloads.

 

Interestingly, over the last three years, TikTok’s quarterly download numbers have exhibited fluctuations. The peak was observed in Q2 2020, with 292.1 million downloads, while the lowest was recorded in Q4 2021, amounting to 162.3 million downloads.

 

TikTok downloads targeting pandemic numbers

Based on the data, TikTok’s latest download figures point to a rebound, with the numbers targeting pandemic figures. Notably, the pandemic was a key driver for TikTok’s gains in popularity, and the reopening of the global economy seemingly had an impact.

 

The rebounding figures are also motivated by the platform’s distinctive approach of offering short videos, coupled with its algorithmic prowess in understanding user preferences. With the continued introduction of new features, the downloads have propelled TikTok to the forefront of social media innovation.

 

The platform has shown resilience after deploying various strategies to reinvigorate momentum and entice fresh users. These approaches encompassed initiating focused marketing initiatives, partnering with influential content creators, and unveiling novel features designed to elevate user experience and bolster retention. These strategies have built on TikTok’s ability to transcend cultural boundaries and resonate with a diverse range of audiences characterized by short videos that are quick to consume and easy to produce while democratizing content creation.

 

At the heart of TikTok’s success remains its content creators. The app has given rise to a new breed of digital influencers who have amassed millions of followers and achieved celebrity status through their TikTok content. These creators, often hailing from diverse backgrounds, have forged connections with their audiences in ways that resonate deeply.

 

Impact of TikTok’s rebounding downloads

Certainly, TikTok’s capacity to recover in download numbers is a noteworthy achievement, particularly when considering the escalating competition within the social media space. As novel and inventive platforms gain prominence, users now have an expanded array of choices, diverting their focus and conceivably partly contributing to a decline in TikTok’s user acquisition. This phenomenon is compounded by platforms like YouTube and Instagram intensifying their endeavors to promote short video offerings.

 

TikTok’s download growth has also aligned with the revenues on the platform. According to a Finbold report in April, TikTok generated $5.5 million from in-app purchases daily in Q1 2023, which saw the platform register a rebound in downloads. At the same time, TikTok effectively utilizes user-generated content, appealing to brands and advertisers and generating revenue from in-app transactions and ads. This strategy even propelled TikTok to briefly claim the title of the world’s top-earning social app through in-app purchases.

Barriers to TikTok growth

The recent surge in downloads occurred against a backdrop marked by persistent regulatory scrutiny and questions surrounding data privacy and content moderation. It’s worth highlighting that ongoing endeavors to ban TikTok due to security concerns, primarily spearheaded by the U.S., have garnered global attention. Notably, nations such as the U.S., Britain, Canada, the European Union, and New Zealand have prohibited the app on official devices. Concurrently, the platform is now under fresh scrutiny in Somalia and Kenya due to concerns about misinformation and content moderation.

 

While TikTok’s popularity continues to skyrocket, the platform still holds untapped marketing potential, especially in the payment and online shopping sectors. Although the influence of the social media platform is clear, the primary emphasis remains on ensuring the sustainability of growth and fostering genuine user engagement, which will play a key role in remaining resilient amid regulatory scrutiny.

Categories
Business Energy Environment Lifestyle Science Technology Travel & Leisure

JUXTA introduces game-changing autonomous micro-retail stores to support customers in the electric vehicle charging ecosphere

RALEIGH, N.C. —  JUXTA, a global technology company and micro convenience retail store provider, is poised to revolutionize the retail landscape with the launch of the fully equipped, pre-assembled, autonomously operated JUXTA Nomad.

 

Created to support customers in the rapidly expanding EV charging sector, the JUXTA Nomad can be fully installed and operational within 12 hours, enabling drivers and passengers to purchase food and drinks while waiting for their vehicles to charge.

 

JUXTA is a US-based corporate start-up formed in 2022 by Vontier, a global industrial technology company, which also incorporates Gilbarco Veeder-Root, a world-leading supplier of fueling and convenience store equipment.

 

Om Shankar, JUXTA Co-founder and CEO: “JUXTA was born to deliver a technology-driven step change in the micro-retail landscape. Our mission iFs to support station operators transitioning from traditional hydrocarbon fuel stations to EV charging points and collaborate with established retail brands to extend their presence beyond fuel pumps by adding value to the charging station experience and driving top-line growth.

 

“While there are other players in the autonomous retail ecosphere, JUXTA’s offer is unique, as it is the only turnkey store on the market that does not require complex integrations. Our Nomads are also exclusively targeted at the micro convenience retail landscape and have been specifically designed, developed, and trialed over an eighteen-month period to provide multiple benefits for EV charging operators.”

 

 

“EV players have always known that they have to solve the retail challenge on their sites, but until now, there has been no immediate solution –       JUXTA provides that solution. The JUXTA Nomad is the world’s most technologically advanced walk-in vending machine. All our customers need to do is take delivery, connect to electricity power, stock the shelves, cut the ribbon and then walk away, leaving the Nomad to start retailing immediately.”

 

Solving the labor challenge

The fully autonomous nature of the JUXTA Nomad removes operator dependency on fixed human labor, eradicating the challenge of finding and retaining staff that currently blight the retail sector.

 

With no requirement to accommodate staff or a counter, optimum space is devoted to stock within the 264 square feet (24.5 square meter) Nomad interior. Coupled with state-of-the-art shelving and presentation units, the expanse enables customers to stock between 500 and 600 fast-moving, high-margin items.

 

“The JUXTA Nomad offers the most profitable per square foot retail format in the world,” explains Shankar. “Each Nomad also provides customers with a comprehensive suite of real time data, enabling them to optimize their retail strategy and precision-target their customers by stocking only high-demand items to reduce waste and enhance profitability.”

 

App-free access

While waiting for their vehicles to charge, drivers and passengers can enjoy the ultimate quick and convenient retail experience. With no need to download an app or register for membership, shoppers can gain instant access to the JUXTA Nomad with the touch of a debit or credit card, whether carried physically or stored digitally on their smartphone’s wallet or smartwatch.

 

Once inside the store, customers can select from a range of snacks, sandwiches, hot drinks, and fresh fruit, or select larger items for dinner at home later – whatever the retailer chooses to stock depending on each Nomad’s location and customer purchase data. For example, operators of Nomads positioned by remote EV charging points far from any urban conurbation could prioritize drinks and snacks to be consumed by drivers while waiting for their vehicles to charge. Operators of Nomads located by EV charging stations closer to or within towns and cities could also choose to stock larger items, such as readymade meals, for shoppers to purchase and consume when they return to their homes.

 

Inside the Nomad, shelf and cabinet sensors instantly detect when an item is picked up, and an array of cameras will anonymously identify by whom. The information is combined in the cloud to create a digital basket for each customer. If a family or group of shoppers enter the store, JUXTA’s AI-driven technology will collate their purchases.

 

Where legislation permits, JUXTA’s technology will enable compliant retail of age-restricted items such as alcohol or cigarettes. Contained within specific age-verified fridges and dispensers, restricted items will only be released after cameras have confirmed the purchaser is of appropriate age. The technology will also have the scope to request and verify IDs, such as driving licenses, to confirm the purchaser’s age if necessary.

 

Customers can verify their purchased items on a large touch screen before they exit the store. However, if they prefer to minimize their shopping time, they can walk straight out with their purchases, entrusting JUXTA’s technology to record their purchases and charge their credit or debit card.

 

Benefits beyond the charging station

Whilst JUXTA was born to primarily service the rapidly developing EV sector, the company’s Nomads can offer multiple benefits to other sectors. While the units require an electricity supply, they do not need to be connected to external water supply as in-store water reservoirs are used for hot drinks. A JUXTA Nomad can be transported and installed virtually anywhere within 12 hours. Potential locations include hospital car parks, festivals, campsites, tourist attractions and college campuses. Nor is the internal layout of the JUXTA Nomads limited solely to retailing typical convenience store items. The format can stock whatever the retailer wishes, even camping supplies.

 

JUXTA has developed its Nomads to allow operators and retailers free rein to brand the offer both inside and outside the store. Responsibility for maintenance, cleaning and restocking lies with the operator, with JUXTA’s AI and camera technology able to instantly identify and report any hygiene issues, such as spillages.

 

Depending on how far apart they are geographically dispersed, a single employee should be able to maintain 8 to 12 JUXTA Nomads daily. Access to multiple suppliers can be granted to facilitate the delivery of items such as daily newspapers, milk and fresh fruit and vegetables.

 

Field-proven and primed for global roll-out

JUXTA has successfully proven the efficacy of the hardware and software that underpins its transformative retail offer to the EV charging sector and beyond. The company has concluded a trial of its first autonomous Nomad in North Carolina and confirmed four further customer Nomads in the US, which will be fully operational later this year. JUXTA is also in advanced negotiations with customers in Europe, where it will introduce its first Nomads in 2024.

For media enquiries please contact Ben@influenceassociates.com

About JUXTA

JUXTA is a global technology company and micro convenience retail store provider born to revolutionize micro convenience retail and support the EV charging sector with its industry-first, game-changing, portable, autonomous stores, referred to as JUXTA Nomads. Founded in North Carolina, USA, in 2022, JUXTA is a corporate start-up within Gilbarco Veeder-Root, a world-leading supplier of fueling and convenience store equipment and subsidiary of global industrial technology company Vontier.

 

Benefitting from the agile nature of a start-up and the backing of a global corporation, JUXTA is uniquely positioned to provide the global EV charging sector with the instant, effortless to operate, highly efficient and hyper-targeted retail solution it requires, while offering the same advantages to numerous other sectors. The company has already proven the efficacy of its proprietary hardware and software and is set to roll out the JUXTA Nomad across the U.S. and Europe.

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Art & Life Business Economics Lifestyle Sports & Gaming

A MASSOV shift in the business of football

Football’s performance revolution commits to your fit
There’s a new player in football performance fit and its name is MASSOV.

 

The company’s patented football glove is leveling up the game and seeing sales doubling month over month since its 2023 launch, with projected earnings of $1 Million by Q2 of 2024.

 

MASSOV hit the market this year, revolutionizing football on two fronts:

Massov’s Nextgen Football glove is constructed with a proprietary palm material that is engineered to reduce the football’s velocity, improving grip and catch performance in all weather conditions. The gloves’ InfinityGrip® hydrophobic surface repels water, as it brilliantly sticks to the football’s surface, whether dry or wet.

 

MASSOV is first to market with gloves that are specifically patterned and sized for female athletes; a monumental step forward for gender inclusivity, in the games of, both, flag and tackle football.

 

Explaining their decision to create a glove that is sized specifically for female athletes, MASSOV’s co-founder Shane Stern shares, “We believe that fit and accessibility should never be a barrier to participation, and for decades the big brands have ignored the needs of groups of athletes.”

 

“Thankfully, the NAIA is now including female football and the NCAA will be including female flag football next year, both of which are instrumental in the growth of this market. Additionally, girls’ flag football is becoming a sanctioned high school sport across the U.S. Female participation is also growing by almost 40%, and we are proud to be leading the market in supporting women and girls in the sport,” adds Stern.

 

MASSOV on a mission

In pursuit of creating a superior fitting and inclusive football glove for all male, female and youth competitors, MASSOV completely redesigned standard glove size patterns, “something that hadn’t been done since the ‘90s,” continues Stern. The company took size samples of many different male and female athletes, dropped the cuff and updated the fit, construction, and materials to create a superior glove.

 

The gloves’ back-of-hand material is a proprietary layered mesh that is two and a half times more durable than any other glove currently on the market. It’s multi-direction weave has four-way stretch and extreme durability that feels like a second skin.

 

MASSOV’s competitive in-house design and production team means they are quick to market and they have the ability to customize anything a player wants, which enabled them to become the official glove of USA Football (football’s governing body, setting the standards for the sport) and the U.S. National Teams.  They have also become the official glove of the NAIA (National Association of Intercollegiate Athletics), X League, the PSFCA Big 33 Football Classic, and the official accessories partner of USA Flag.

 

Adds co-founder, Matt Vege, “As lifelong football players and passionate fans of the game, our goal was to create an innovative brand that stood for something. That’s why we pledge to ‘Commit to Your Fit’ across all demographics of players.”

 

MASSOV Impact

Through MASSOV Impact TM the company is donating a portion of its proceeds to providing funding and equipment to youth athletic programs in underserved communities.

 

What these gloves offer in terms of improved gender and age equity, comfort, durability, and performance in the sport of football is nothing short of MASSOV.

 

MASSOV athletic gloves are available at massovathletics.com, on Amazon, and through direct team sales and athletic organizations.

Categories
Business Culture Economics Lifestyle Regulations & Security

The Great Gloom: Employee happiness is at rock bottom, but there are solutions

A report released by BambooHR found that employee happiness is at an all-time low, with the healthcare and education sectors being the most unhappy.

 

Spikes like this were last seen during the COVID-19 pandemic. The report highlights employee happiness is “plunging dramatically” without signs of recovery. However, Scott Johnson, CEO and founder of Motivosity, can discuss the following possibilities to combat the issue proactively:

  • A breakdown of solutions based on each industry
  • Holistic methods to improve employee happiness
  • The importance of tracking eNPS for overall organizational health
  • Data-driven approaches to measure happiness at work
  • Digesting industry norms in the happiest and unhappiest industries to make changes
  • The role of appreciation, proper training and management in improving happiness

 

Otter PR
Scott Johnson is an entrepreneur, technology expert, and Founder and CEO of the leading employee engagement and recognition software, Motivosity. Johnson spent his career focused on making people’s time at work count for something more. As Founder of Motivosity, Johnson is passionate about leveraging technology in social ways to create innovative workforce engagement solutions. He regularly contributes to Forbes and has been featured in NY Post, BuiltIn, LA Times, MSN, and more.

Categories
Business

AM Best Downgrades Credit Ratings of Dentegra Seguros Dentales, S.A. and Places Credit Ratings Under Review With Negative Implications

MEXICO CITY–(BUSINESS WIRE)–AM Best has downgraded the Financial Strength Rating to B++ (Good) from A (Excellent), the Long-Term Issuer Credit Rating to “bbb+” (Good) from “a+” (Excellent) and the Mexico National Scale Rating to “aa+.MX” (Superior) from “aaa.MX” (Exceptional) of Dentegra Seguros Dentales, S.A. (DSD) (Mexico). Concurrently, AM Best has placed these Credit Ratings (ratings) under review with negative implications. These rating actions follow the recent announcement of the acquisition of DSD by Auna S.A.A. (Auna), a Peruvian health-focused company.

Prior to these rating actions, DSD was a member of Dentegra Group, Inc.’s association with Delta Dental companies (Dentegra Group) and deemed by AM Best to be a strategically important subsidiary. On Feb. 1, 2023, Auna announced that it had acquired 100% ownership of DSD. Due to this event, DSD is no longer affiliated with Dentegra Group; therefore, AM Best has removed its group status.

The ratings reflect DSD’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).

DSD’s risk-adjusted capitalization stands at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). The company has a conservative investment strategy in place, paired with strong underwriting practices, which have allowed it to historically report positive bottom-line results. DSD is a market leader in the relatively small dental segment within Mexico’s insurance industry and is concentrated in two products, dental and vision insurance.

With the change in ownership, the company no longer benefits from being integrated with Dentegra Group, Inc., which brought operational leverage through common systems, procedures and ERM practices. AM Best requires further information regarding DSD ‘s new shareholders to fully assess the impact that the change in ownership could potentially have in DSD ratings.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

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 © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Inger Rodriguez
Associate Financial Analyst
+52 55 1102 2720, ext. 108
inger.rodriguez@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Elí Sánchez
Associate Director, Analytics
+52 55 1102 2720, ext. 122
eli.sanchez@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 439 2200, ext. 5098
al.slavin@ambest.com

Categories
Business Culture Economics

DLA, LLC announces hiring of managing director, Maria Golenkov

FAIRFIELD, N.J. — (BUSINESS WIRE) — DLA, LLC (DLA), a leading provider of internal audit and accounting advisory services, is delighted to announce the addition of Maria Golenkov as Managing Director, Internal Audit.

 

With a career of successes performing operational consulting, IPO readiness, SOX implementations, and enterprise risk assessments for Business Development Companies (BDCs) and Financial Services companies. Maria brings a wealth of expertise to fortify DLA’s impactful portfolio.

 

Maria’s niche lies in her strategic focus on BDCs, private equity, credit, real estate investment trusts, hedge funds, and global alternative asset management. Her seasoned background has consistently propelled her clients toward excellence in a dynamic landscape.

 

Before joining DLA, Maria held the position of Director at a prominent Big Four Accounting firm. In this role, she navigated clients through the terrain of public company corporate governance requirements for NYSE and NASDAQ. Her guidance allowed asset managers’ seamless transition from private to public, ensuring adherence to the standards of SOX 404. Maria’s experience extended to the streamlining of business processes and systems, accomplished through innovative automation and the expansion of existing applications.

 

“Maria is an exemplary audit and risk management leader, celebrated for her transformative initiatives and the orchestration of high-performing teams,” commented Phil Ramacca, President & CFO at DLA. “Her exceptional experience perfectly equips her for the role of Managing Director, Internal Audit.”

 

Maria’s arrival underscores the firm’s commitment to excellence and growth. Maria’s alignment with DLA’s values and her capacity to steer transformational change make her an invaluable asset to the firm and its clients alike. As Managing Director, Internal Audit, Maria is set to elevate DLA’s impact and reinforce its reputation for excellence in the realm of audit and advisory services.

 

About DLA, LLC

Founded in 2001, DLA provides internal audit and accounting advisory services to hundreds of clients. DLA’s leadership team averages 30+ years of experience and is led by Big Four veterans with deep industry expertise. DLA specializes in internal audit, accounting advisory, forensic accounting, valuation and litigation support, tax, risk management, and IT advisory services. The company is headquartered in Fairfield, New Jersey.

 

For further information about DLA, LLC, please visit us at www.dlallc.com.

 

Contacts

Danielle Dietrich, Managing Director of Human Resources & Administration, 973.575.1565