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Max Life Insurance Selects Oracle Exadata Database Service to Support Exponential Growth

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Moves core insurance applications to Oracle Cloud Infrastructure
Improves application performance by up to 70 percent

NEW DELHI, Feb. 16, 2024 /PRNewswire/ — Max Life Insurance Company Ltd. (‘Max Life’/ ‘Company’), has moved all of its mission-critical database workloads to Oracle Exadata Database Service running on the Exadata platform in Oracle Cloud Infrastructure (OCI). In addition, Max Life has migrated its core systems to OCI, including customer service, claims management, marketing and policy issuance, resulting in an application performance improvement of up to 70 percent. Furthermore, Max Life’s business service uptime has remained close to 99 percent and system performance of core systems has improved by around 30 percent, thereby contributing to business agility and customer experience.

Max Life offers comprehensive protection and long-term saving life insurance solutions to around 4.2 million active customers through e-commerce, multichannel distribution of agency and third-party distribution partners. With India’s insurance sector projected to be the fastest growing among the G20 nations with 7 percent growth over 2024-28, Max Life recognized the need to be future ready by upgrading its on premises legacy infrastructure. It needed scalability, adaptability, online Disaster Recovery site and resilience to ensure system uptime and gain data insights to better serve its large ecosystem of partners, agents and internal teams. Max Life selected Oracle Exadata Database Service on OCI for its scalability, availability and security features.

Suhail Ghai, Chief Digital and Information Officer, Max Life Insurance Company said, “As we accelerate Max Life’s digital transformation journey, cloud technologies will be key to enhancing the performance and availability of our core applications for better customer experience. The migration to Exadata Database Service on OCI has laid a solid foundation for us to capitalize on the increasing demand for life insurance in India and propel our growth trajectory.”

Oracle Exadata Database Service is an automated Oracle Database service on OCI that allows organizations to run databases with the highest performance, availability, security, and cost effectiveness. Oracle databases run faster and with fewer resources powered by the scale-out Exadata infrastructure that includes unique optimizations for transaction processing, analytics, and mixed workloads.

Max Life utilized Oracle Cloud Mumbai Region and Oracle Cloud Hyderabad Region for migration. With the Oracle Cloud Regions, Max Life has been able to leverage redundancy and disaster recovery capabilities to enhance business continuity and help meet the regulatory compliance requirements of the Insurance Regulatory and Development Authority of India (IRDAI). Additionally, Max Life utilized OCI solutions such as Compute, Storage, Object Storage, and File Server to provide high performance computing and low-cost cloud storage options to help improve the efficiency and productivity of its IT team.

 “India’s insurance market is undergoing significant transformation marked by increasing digital interactions, evolving customer demands, competition from established and emerging players, and regulatory changes,” said Kapil Makhija, Vice President, Technology Cloud, Oracle India. “Exadata Database Service on OCI has enabled Max Life to improve performance across all workloads, optimize cost, and reduce downtime. With OCI’s world-class architecture and the Exadata platform to run databases at scale in the cloud, Max Life is now well-equipped to meet customer demands with agility and improved responsiveness, facilitating business growth.”

This project was implemented by Infolob Global, a long-time Oracle PartnerNetwork (OPN) member, in less than five months. “Hybrid and multicloud environments are redefining IT strategies since they provide unparalleled flexibility and help organisations address IT redundancy. More and more customers are exiting datacenters and choosing cloud,” said Satyendra Pasalapudi, Managing Director, Infolob Global. “With our expertise in Oracle cloud deployments, we helped Max Life migrate critical workloads to Oracle Cloud and helped them reduce IT costs, to enable them to focus on innovation and business growth.”

About Max Life Insurance

Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Axis Bank Limited. Max Financial Services Ltd. is a part of Max Group. Max Life offers comprehensive protection and long-term savings life insurance solutions, through its multi-channel distribution including agency and third-party distribution partners. Max Life has built its operations over two decades through a need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital. As per annual audited financials for FY2022-23, Max Life has achieved a gross written premium of INR 25,342 Cr.

For more information, please visit the Company’s website at www.maxlifeinsurance.com  

About Oracle

Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at www.oracle.com.

About Oracle CloudWorld Tour

Oracle CloudWorld Tour is Oracle’s global celebration of customers and partners. Join us to discover the insights you need to tackle your biggest business challenges, build your skills, knowledge, and connections, and learn more about our cloud infrastructure, database, and applications from the people that build and use them. For live keynotes, session details, news and more visit oracle.com/in/cloudworld-tour/ or oracle.com/in/news/

Learn more at https://www.oracle.com/in/ . Like us on Facebook, and follow us on LinkedIn, and Twitter.

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Todd Tucker joins Parking Revenue Recovery Services as Chief Operating Officer to Guide Growth as PRRS expands as a Vehicle Identification and Monitoring Technology Platform

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DENVER, Nov. 15, 2024 /PRNewswire/ — Parking Revenue Recovery Services (PRRS), Inc., a leader in AI-driven compliance and vehicle activity monitoring, is pleased to announce the appointment of Todd Tucker, JD, DBA, CAPP, CPP, as its new Chief Operating Officer, effective November 15, 2024. With over 30 years of experience in the parking industry, Tucker is a recognized leader, having held various senior executive roles. Todd assumes the role of Chris Conley, who has decided to retire and enjoy some well-earned time after 30 years in the parking industry.

Before joining PRRS, Tucker served as President at Parking Logix and has been a leader in multiple tech companies focused on mobility solutions, with two leading to strategic and/or investment transaction outcomes Todd’s experience as a parking operations leader/expert and his roles spearheading the development and growth of innovative technology offerings focused on parking provide him with a unique ability to build solutions that meet the needs of today’s parking operations.

PRRS is uniquely positioned in gateless parking technology solutions through its machine vision-based technology, which identifies all vehicle activity, enhances compliance, and enables clients to expand their service capabilities. Our technology allows clients to gather valuable insights into operation and consumer activity while helping our clients improve their customer experience. With Tucker’s extensive expertise in parking technology and leadership, PRRS aims to broaden its services across North America, solidifying its status as the premier provider of gateless technology solutions to operators and facilities.

“Todd’s proven track record of driving innovation and his dedication to enhancing technology-based services make him the ideal candidate to lead PRRS into its next growth phase,” said Gabor Burchner, Managing Director, GB & Partners IM. “As the demand for adaptable technology solutions providers continues to rise, Todd’s leadership and collaborative approach will be invaluable.”

PRRS, in partnership with Asura, has successfully implemented the ARC solution and its compliance services at over 400 parking sites across 29 states. With ongoing investment from GB & Partners IM, PRRS is set to expand beyond its current identity as a “parking notice firm” to become the leading gateless technology solution for the future.

“I am thrilled to join PRRS and enhance the value we provide to our parking operating partners,” said Todd Tucker. “Throughout my career, I’ve consistently sought to challenge the status quo by delivering innovative solutions in an ever-evolving industry. PRRS is at the forefront of leveraging technology to enhance its services, and with GB & Partners IM participation, we will continue to deliver exceptional value to the parking sector and beyond. I look forward to joining the PRRS team and collaborating with our clients to push boundaries and innovate in compliance and facility monitoring services.”

About Parking Revenue Recovery Services

Parking Revenue Recovery Services, Inc. (PRRS) is North America’s leading Parking Compliance and Facility Monitoring technology provider. PRRS is on track to provide over 1,000 parking locations and proudly supports national, regional, and local parking operators throughout the United States. Our client owners and parking operators use our monitoring and compliance services in all properties, including commercial lots and garages, municipal facilities, college and university facilities, airports, hospitals, commercial properties, and residential buildings. PRRS creates exceptional value for its parking operator clients through increased overall customer compliance and enhanced visibility into operating activity and usage while delivering excellent customer service. We maximize the value provided to our clients through excellence, innovation, and efficiency in its compliance and monitoring services, delivered by an outstanding team of parking professionals dedicated to the highest levels of customers.

About Asura Technologies

Asura Technologies specializes in next-generation video analytics and license plate recognition software, utilizing AI to create smart parking, traffic management, frictionless tolling, and safety security applications. Active globally since 2018, Asura Technologies USA collaborates with PRRS to provide highly effective, automated parking enforcement solutions through innovative technology.

About GB & Partners IM

GB & Partners IM is an independent private equity and venture capital firm focused on innovative city technologies, fashion, fintech, medical technologies, and mechanical engineering. As the largest Hungarian-based firm in its sector, GB & Partners IM offers extensive leadership experience in private equity and venture capital investments, M&A transactions, and IPOs, providing operational support to investment entities by international standards. In 2019, GB & Partners IM became the first Hungarian venture capital firm to gain membership in Invest Europe.

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SOURCE Parking Revenue Recovery Services, Inc.

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Connect and Converse Across Borders with Moii: Now Available Worldwide

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SEOUL, South Korea, Nov. 15, 2024 /PRNewswire/ — Moii, an innovative avatar-based interest-matching conversation service developed by tech startup illuni, has officially launched globally. Available on the Google Play Store and Apple App Store, Moii offers users a unique way to meet new friends, share stories and enjoy engaging conversations. The service allows people around the globe to experience safe, interest-based connections with like-minded people, fostering a sense of community across borders. Moii exemplifies illuni’s commitment to creating immersive digital experiences through advanced artificial intelligence (AI) technology.

To create heartfelt connections, download Moii from the Google Play Store (https://play.google.com/store/apps/details?id=com.illuni.moii&hl=en-US) and Apple App Store (https://apps.apple.com/us/app/moii-heartfelt-connections/id6456406927).

Create Moiiments, Connect Globally

In a world where genuine interaction can feel rare, Moii provides a space for simple, meaningful conversations without the pressure of video or photo sharing. By connecting users based on shared interests, Moii creates a relaxed environment for spontaneous chats, whether someone is looking for a listening ear, a language exchange, or a fresh global perspective. With engaging features such as avatar costumes and singing content in virtual karaoke – introduced in a recent November update – the app continues to attract a growing user base of young adults seeking meaningful connections beyond small talk.

“Since our global launch on the 1st of November, users from over 30 countries have come together on Moii to share interests, create unique content and enjoy friendly conversations,” said Byung-Hwa Park, CEO of Illuni. “We are thrilled by the enthusiasm for Moii as people around the world find it to be a fun and welcoming platform.”

Aimed at users in their 20s and 30s, Moii allows users to interact in a fully customizable 3D environment. Instead of revealing their actual appearance, users create avatars that reflect their personalities and interests, providing a sense of anonymity, security, and comfort. Once matched, users can personalize their avatars, use conversation cards, and enjoy mini games, making every interaction fun and engaging.

With a mission to create comfortable spaces for conversation, Moii promotes cross-cultural and language exchange on a global scale. Whether users want to make foreign friends, practice a new language, or simply chat with a friendly listener, Moii offers a low-pressure, refreshing way to connect.

Looking ahead, Illuni plans to expand Moii’s language support, making it accessible to even more users across the globe.

For more information about Moii, visit https://www.moii.net/en

About illuni

Illuni is a forward-thinking startup focused on developing immersive digital experiences through advanced AI technology. The company is committed to building innovative mixed-reality services that redefine user engagement in digital spaces. Alongside Moii, illuni’s portfolio includes Storyself (https://storyself.com), an interactive storybook app that transforms users’ pictures into story characters, allowing them to become the protagonists of various tales—making it both engaging and educational for children.

To learn more about illuni and its suite of mixed-reality projects, visit:  https://www.illuni.com/en 

For media inquiry, please contact: illuni Communications, e-mail: contact@illuni.com 

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SOURCE illuni

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LONGi’s Solar Panels Enhance Sustainability in Bengaluru’s Residential Complex

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BANGALORE, India, Nov. 15, 2024 /PRNewswire/ — LONGi, in partnership with SolarSquare, has completed a 342 kW solar project using advanced Hi-MO 5 solar panels for a residential apartment complex in Bengaluru.

Launched seven months ago, this solar project is set to save the residential complex up to $47,736 annually and has already generated an impressive 340,000 units of electricity. Thanks to the high efficiency of the solar modules, significant economies of scale, and the inherent advantages of rooftop solar, the project is projected to reach its break-even point within just 4.75 years.

Before the installation of the rooftop solar panels, residents faced annual electricity costs of approximately $143,305. The switch to solar energy is expected to result in annual savings between $47,768$53,768, effectively reducing their electricity expenses by around 33%.

Nikhil Nahar, Co-founder and Director of SolarSquare, stated, “Through our strategic partnership with LONGi over the years, our customers have gained access to state-of-the-art technology for their projects. LONGi’s solar panels consistently deliver performance and help our customers save on electricity bills. With a shared vision to accelerate the mass adoption of renewable energy and enhance sustainability, our partnership has continually provided innovative solutions, earning the trust of our customers.”

LONGi remains committed to delivering advanced solar technology and helping more residential complexes achieve energy independence through its highly efficient and reliable products.

About LONGi

Founded in 2000, LONGi is committed to being the world’s leading solar technology company, focusing on customer-driven value creation for full scenario energy transformation.

Under its mission of ‘making the best of solar energy to build a green world’, LONGi has dedicated itself to technology innovation and established five business sectors, covering mono silicon wafers cells and modulescommercial & industrial distributed solar solutionsgreen energy solutions and hydrogen equipment. The company has honed its capabilities to provide green energy and has more recently, also embraced green hydrogen products and solutions to support global zero carbon development. www.longi.com

View original content:https://www.prnewswire.com/in/news-releases/longis-solar-panels-enhance-sustainability-in-bengalurus-residential-complex-302306744.html

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