Archive: September 13, 2022

Tower Hill Insurance Adds ClaimsPay® To Complete All-Inclusive Payments Digitization with One Inc

Southeast’s largest residential and commercial property insurer extends partnership

FOLSOM, Calif. – September 13, 2022 – One Inc, the leading digital payments network for the insurance industry, announced today that Florida-based property insurer Tower Hill Insurance Group has selected One Inc’s outbound payment solution, ClaimsPay®, to streamline and improve digital payments processing for its customers. The implementation of ClaimsPay will enhance the outbound claims payment process, providing new options for faster delivery of funds. Tower Hill becomes the latest accredited insurer in a series of new customer announcements using One Inc’s all-inclusive frictionless payment offering.

Tower Hill, founded in 1972, is one of Florida’s largest residential and commercial property insurers, represented by more than 850 insurance agencies across the state. Tower Hill has expanded into 16 more states across the U.S. and is represented by thousands of insurance agencies nationwide.

“Our agents and customers have high expectations, and we always strive to deliver exceptional service, leveraging advanced InsurTech platforms to modernize our business and strengthen our customer relationships,” said Kirk La, CEO, Tower Hill Insurance Group. “We are excited to expand our partnership with One Inc, and are implementing their full platform, which now addresses both of our requirements – offering solutions across payment collections and disbursements for a more seamless customer experience.”

“We are pleased to extend our partnership with Tower Hill and look forward to providing them with both our best-in-class claims and premium payment solutions,” said Ian Drysdale, One Inc’s Chief Executive Officer. “By leveraging our digital payment process, Tower Hill will be able to drive payments efficiencies to meet the needs of its customers and stay ahead of the competition. We look forward to our ongoing relationship with Tower Hill, being a valued partner for many years to come.”

Magenta Mobility enters Delhi markets, partners with Flipkart to bring EVs to its fleet.

Delhi, 13^th September 2022: Flipkart announced its partnership with Magenta Mobility, an electric mobility solutions provider, for the deployment of electric vehicles for its last-mile transportation. With this collaboration, Magenta Mobility formally enters the National Capital Area (Delhi NCR) and will deploy around 400 electric cargo vehicles to the Flipkart fleet in Delhi NCR. This deployment is over and above the existing fleet that Magenta operates for Flipkart in Bengaluru. The announcement was preceded by a cargo vehicle flag-off ceremony held at Flipkart’s hub in Inayatpur and presided over by Mr. Randheer Singh from NITI Ayog, Mr. Amit Kumar of Flipkart, Ms. Sophia Nadur from BP Ventures, Ms. Pooja Mehta of JITO Angel Network and Maxson Lewis from Magenta Mobility.

Magenta Mobility operates an electric fleet of over 500 vehicles in Bengaluru, Hyderabad, and Mumbai, serving clients in e-commerce, grocery delivery, FMCG, food & pharmaceuticals. To date, the brand’s electric cargo fleet has travelled over 1 million clean (electric) kilometres, equating to approximately 150 metric tons of CO2. Furthermore, the organization, with its own Electric Fleet Management System, is an excellent partner for organizations hoping to achieve practical portability goals in decarbonization. Magenta Mobility intends to deploy a fleet of over 500 EVs in Delhi this year to meet the needs of organizations looking to transition to clean mobility.

Speaking on the partnership, Maxson Lewis, Founder, and Managing Director, Magenta Mobility said, “We are pleased to see Flipkart’s rapid adoption of EVs in its fleet. With our association with Flipkart, we are committed to providing a clean, sustainable, and affordable last-mile delivery solution across the country.”

While flagging off the event, Mr. Randheer Singh, Director Electric Mobility and ACC Program at NITI Aayog said “On this World EV day, it is important for us at NITI Ayog to support endeavours for adoption on electric mobility especially in the last mile logistics. It is also important to be part of events where such adoption is happening on the ground. It gives me immense pleasure to be part of an important event where we have multiple stakeholders coming together to make Delhi NCR emission free. 

Flipkart will utilise Magenta’s Electric cargo fleets, including the newly launched Mahindra Zor Grand and other select OEMs to accelerate the growth of EV adoption for last mile logistics.

The electrification of the logistics fleet is a key part of Flipkart’s larger sustainability goal and in line with its commitment to the Climate Group’s EV100 initiative. The collaboration reinforces Flipkart’s plans to introduce more than 25,000 EVs in its supply chain to achieve 100% transition to e-mobility by 2030.

Magenta is a Series A funded company backed by HPCL, and marquee investors such as JAN (JITO Angel Network), LetsVenture, and renowned Indian American philanthropist, Dr. Kiran Patel.

Delta is at the forefront of introducing e-mobility worldwide; shipped above 1 million EV chargers

Mumbai, September 13th, 2022: Delta, a global leader in power and thermal management solutions, has emerged as a major player in the e-mobility sector worldwide. Over the last few years, as one of the prominent leaders in EV (electronic vehicles) charging solutions, it has set up EV charging stations in various parts of the world, including Asia, the USA, and Europe. The organisation has shipped over 1,000,000 EV chargers to consumers worldwide since 2011 to foster e-mobility transition across the globe. Currently, Delta provides powertrain and energy management systems to the world’s leading EV automakers in Europe, the USA, and Asia.

With expertise in high-efficiency power technologies, Delta has been delivering energy-efficient EV charging solutions worldwide for over a decade. In 2020, Delta collaborated with Idemitsu Kosan Co., Ltd., a Japanese energy company, to operate an EV charging station in Yokohama. Delta and Idemitsu renovated an old gas station into an EV charging station that has a cafe. The EV charging station operates under the theme ‘Park and Charge’ enabling a smart retail energy ecosystem that unifies Delta’s energy storage, power conditioning system, EV chargers, DeltaGrid IoT energy management system, and Delta’s retail IoT solution.

In August 2022, Delta joined hands with EVgo, the largest public fast charging network for electric vehicles (EVs) in the USA, to supply 1000 fast chargers with up to 350kW power output. The organisation has successfully delivered over 6,000 EV chargers to consumers in India.

Benjamin Lin, Delta Electronics India’s President & GM, said, “We are at the forefront of building e-mobility across the globe. Delta strives to build a sustainable world that includes green energy infrastructure, smart factories, and e-mobility. We intend to increase the delivery of our EV chargers globally. We are immensely thankful to our local partners as we collaborate to build e-mobility. In India, we project to deliver more than 10,000 EV chargers by mid-2023”.

Delta offers a one-stop solution enabling EV charging infrastructure in order to provide clean, innovative, and energy-efficient solutions for a better tomorrow. The surge in demand for EVs plays a significant role in mankind’s sustainability goals, and adequate charging infrastructure is essential for the rapid adoption of EVs. Delta aims to remain at the forefront of the EV charging infrastructure as demand for EVs will be enormous in the future.

Angel One’s client base grows to 11.18 million in August’22…

Mumbai, 13 September 2022: Fintech company Angel One Limited (formerly known as Angel Broking Limited) continues to add 0.44 million clients to grow its client base to 11.18 million, an 81.9% YoY increase, in August 2022. The company also recorded growth in its Average Daily Turnover by a whopping 117.9% YoY to Rs 12.38 trillion.

Angel One continues to demonstrate consistency in its business performance. It recorded 72.53 million orders, a 44.9% YoY increase, processed in August 2022. Meanwhile, the company’s Overall Equity Market Share stands at 21.5% for the month. Angel One’s Average Client Funding Book for August 2022 stood at Rs 13.72 billion.

Taking account of the growth in August 2022, Mr Prabhakar Tiwari, Chief Growth Officer, Angel One Ltd, said, “Despite tough macro environment, India continues to see a growth in Demat accounts and retail investor participation. We are glad that Angel One is contributing to this growth by enabling more people every month to participate in the capital market. As a digital player, we are happy to provide this access to geographically-dispersed populations, thus aiding financialisation of India.”

Mr Narayan Gangadhar, Chief Executive Officer, Angel One Ltd, said, “Digitisation is driving the industry growth, and Angel One is at the forefront of it. Our focus has been on providing the growing client base with a digital ecosystem, which is not only seamless but also secure, as they progress in their journey of building wealth over the long term. We consistently invest in enhancing client experience, by using technology and upgrading our products and services.”

Angel One’s recently launched Super App is now available to all users in web and iOS versions. Based on the five key pillars – (S.T.A.R.S) – Simplicity, Transparency, Availability, Reliability, and Swiftness, Super App is offering a more secure, effortless and personalised way of investing in the capital market.

Milind Soman buys 4 BHK in a luxury project by Suraj Estate Developers Limited in Prabhadevi

Chennai, 13th September, 2022: Milind Soman has recently booked a 4 BHK, spread over a 1720 sq ft carpet area with two parking’s in a luxury project, Ocean Star by Suraj Estate Developers Limited.

Speaking on the occasion, Whole-time Director of Suraj Estate Developers Limited, Rahul Thomas said, “Ocean Star is an oasis in the heart of Prabhadevi, a picturesque neighbourhood, and is located less than 100 metres from the sea. We are excited to welcome Milind Soman to the Suraj Family.”

Prabhadevi has recently seen a lot of traction from the who’s who of the town, owing to its connectivity and low density compared to other micro-markets of the catchment. Located in this highly sought after luxury residential area, Ocean Star is very well-connected. Right next to Dadar Beach, it is not far from important places of worship such as Jain Derasar and the iconic Siddhivinayak Temple. It also has easy access to commercial hubs of the city with Dadar Station just a ten-minute walk away.

Designed by the architect, Sanjay Puri, Ocean Star comprises 3 & 4 BHK residences sized 1153 sq ft and 1720 sq ft respectively. It has a floor-to-floor height of 12.6 feet and endless views of the Arabian Sea and Bandra Worli Sea-Link. .

Suraj Estate Developers Limited has worked with many partners across its projects. It has been leading in the combined markets of Mahim, Matunga, Dadar, Prabhadevi and Parel. Rahul Thomas stated, “We are an award winning developer in the south central micro-market of Mumbai with a legacy of 35 years. In H1 2022 we have seen good traction in sales across our three engines of growth: luxury, value luxury residential and commercial projects in south central Mumbai.”

Suraj Estate Developers Limited recently filed its draft red herring prospectus (DRHP) with the markets regulator Securities and Exchange Board of India (SEBI) to raise upto Rs 500 crore through an initial public offering (IPO) with a fresh issue of shares. As per the Anarock report referred to in its DRHP, the company between 2016 and Q3 of 2021 stood to have 15.2% and 13.5% market share in terms of supply and absorption respectively. This was with reference to the number of units in the residential submarkets of Mahim, Matunga, Dadar, Prabhadevi and Parel.

Established in 1986, Suraj has executed 42 projects in the island city. Currently there are 9 ongoing projects with a developable area of 1,970,445 sq ft and saleable RERA carpet area of 442,616 sq ft. The 21 upcoming projects have an estimated carpet area of 928,400 square feet. As of December 31, 2021, Suraj had 10,359.7 sq meters of land reserves. It has established itself among the market leaders in redevelopment projects in south central Mumbai submarkets.

Appalla Saikiran, Founder and CEO of SCOPE, gets selected for Glantor X Nation Choice Awards as one of the top 100 most powerful personalities

September 13th, 2022: Creating yet another benchmark in the hitherto entrepreneurial ecosystem, Appalla Saikiran, Founder and CEO of SCOPE, a new-age holistic platform for budding entrepreneurs, venture capitalists, investors, and industry experts, has bagged a place in Glantor X Nation Choice Awards for top 100 most powerful personalities. This milestone is a testament to Appalla’s unique mindset, forward-thinking thought process, pioneering approach and immense hard work, which makes him an ideal avatar for aspiring young entrepreneurs.

The selection process for Glantor X Nation Choice Awards was exhaustive, to say the least. After the nomination round, the nominees were selected by a panel of juries. In the end, a list of the top 100 most powerful personalities in 2022 was created through voting. The winners were given a gold-plated certificate along with a magnificently crafted trophy. They also received a digital certificate for particular showcasing needs.

Appalla Saikiran, Founder & CEO, SCOPE, said, “This accomplishment is an extremely humbling achievement. Sharing a stage with such prominent personalities is nothing short of a dream come true. I am grateful to Glantor for this opportunity. As a teen entrepreneur, while the journey hasn’t been easy, it is sure filled with appreciation and respect. I firmly believe that if a person stays true to their path, the rest will automatically fit like pieces of a puzzle. To aspiring entrepreneurs, I want to say, don’t let your inhibitions stop you from dreaming big. Keep working smartly and towards your goal. Everything else will follow you naturally.”

It is pertinent to note that Appalla spearheads SCOPE’s fast-evolving growth plans. He was recently elected as one of India’s 11 most successful teenage entrepreneurs by The Big Red Group and nominated as the International Partner for India at World Business Angel Investment Forum (WBAF). Appalla is all set to represent India at the next Grand Assembly to join the world’s largest forum of the equity investment market.

With COVID restrictions off, demand for services related to Navratri and Durga Puja witness a massive surge: Just Dial Consumer Insights

Mumbai, Sep 13, After two years of muted celebrations due to COVID restrictions, demand for services like mandap decorators, idol makers, and caterers saw a substantial rise for the forthcoming Navratri and Durga Puja, bringing in the much-needed cheer for India’s gig economy, reports the latest Justdial Consumer Insights.

Across India’s 1000 towns and cities, demand for a wide range of festival services like idol makers, mandap decorators, sweet shops, flower decorators, pooja item dealers, and caterers for Navratri and Durga Puja shot up by (YoY) 29%. The demand in Tier-I cities grew by 33% and that in Tier-II by 60%.

Commenting on the trend, Mr. Prasun Kumar, CMO, Just Dial, said: “After two challenging years it is heartening to see a significant improvement in consumer sentiment, and this is reflected in the rise in demand for a wide range of festival services, for Navratri and Durga Puja, on Just Dial. Across the country, demand for mandap decorators rose by 124%, for caterers by 55%, and for idol makers by 23%. The increase in searches in Tier-II cities also indicates that it has become important for all business to have the right online presence to enhance their reach. The forthcoming festive season is expected to provide the much-needed boost for a wide range of service providers and Justdial will be playing a key role in driving their growth.”

In line with the rising demand for the aforementioned services, demand for pooja item dealers, flower decorators, and sweet shops also soared ahead of the festive season across India. Searches for pooja item dealers rose by 16%, for sweet shops by 18%, and for flower decorators by 8%.

Among Tier-I cities, demand for mandap decorators saw a 118% jump, from last year, demand for idol makers rose by 29%, for caterers by 36%, for pooja item dealers by 21%, and for sweet shops by 13% while that for flower decorators remained stable. Durga Puja celebrations in Kolkata saw the eastern metropolis topping the demand for idol dealers, followed by Delhi and Mumbai.

Demand for mandap decorators was primarily driven by the cities of Kolkata, Delhi, and Mumbai while that for flower decorators remained high in Mumbai, Delhi, and Hyderabad. Mumbai, Delhi, and Kolkata also saw searches for caterers soaring for Durga Puja and Navratri celebrations while online searches for sweet shops remained high in Mumbai, Delhi, and Bengaluru.

Online searches for festival services saw a massive (YOY) jump in Tier-II cities at 60%, which was almost the double of what was witnessed in Tier-I cities.  The demand for idol makers remained high in Maharashtrian cities of Nashik, Aurangabad, Kolhapur, Nagpur, and in Karnataka’s Mysore, primarily due to the recently concluded Ganesh Chaturthi, while mandap decorators were in demand in the cities of Coimbatore, Madurai, Surat, Trichy, and Salem. For puja item dealers, most of the searches in Tier-II cities were in Patna, Indore, Nagpur, Raipur, and Varanasi while Chandigarh, Jaipur, Coimbatore, Ernakulam, and Indore saw a surge in demand for flower dealers. Most of the demand for caterers was generated from the cities of Chandigarh, Coimbatore, Ernakulam, Goa, and Indore while that for sweet shops were from Chandigarh, Amritsar, Agra, Dehradun, and Allahabad.