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SINGAPORE, July 17, 2019 /PRNewswire/ -- CXA Group, Asia's one-stop, AI driven platform for better health, wealth and wellness choices, announced today that it will set up the CXA Tech Hub in Vietnam, as a part of the expansion of its technical capabilities to support its growing multi-product capabilities including its proprietary HealthTech ecosystem.
The Tech Hub will focus on enhancing its core capabilities in the area of AI, machine learning and accelerating its product, development, micro service capabilities which are currently serving more than 400,000 employees, Fortune 500 companies and partners across 20 markets.
Said Rosaline Chow Koo, Founder and CEO of CXA Group, "We are in a unique position as the only solution which provides a tech platform delivering a seamless end-to-end experience from insurance, health, banking & wellness.
We have received overwhelming response from clients who wish to use our technology or be part of our eco-system, it's time for us to expand our development capabilities. Setting up a tech hub in Vietnam provides us access to a large talent pool so we can focus on building state-of-the-art technology.
To lead the rapid tech expansion, CXA brings tech veteran Thorsten Maus, as Head of Information Technology. Thorsten has built tech teams and platforms for e-commerce, payment and financial companies and will oversee CXA's Tech and Development teams both in Singapore and China and the various CXA tech hubs across the region to help streamline and continually develop and improve our platform."
Thorsten Maus added, "This is the start of a new chapter for CXA Group. I am excited by the potential of our tech hubs, starting with Ho Chi Minh City. Together with CXA tech teams in Singapore and China, CXA will rapidly scale our product delivery to our customers globally."
CXA's platform and eco-system has changed the landscape for HRs and is being rolled out for Banks and Insurers. The company has pioneered a one-stop, self-service platform that allows employers to give their employees access to an ever-widening range of health, wealth and wellness offerings, personalised based on the individual's health and life-stage data. Employees can draw down on duplicate insurance policies provided by their employers or spouse's employers and use funds that are then released into the platform's e-wallet to increase the balance in their e-wallets, and to purchase these offerings with cashless, fast and easy transactions.
Through the aggregation, anonymisation and analysis of digitised health and life-stage data, CXA helps employers get to the root cause of their workforces' health issues and design specific interventions - such as corporate wellness and disease management initiatives. As part of its health ecosystem, CXA integrates directly with clinics, giving clients and partners a savings of up to 25% on outpatient costs.
About CXA Group:
CXA Group is Asia's one-stop, predictive and data intelligence platform for better health, wealth and wellness choices. Through the CXA platform, employers can empower employees with access to personalised health and lifestyle offerings, with clear and quantifiable ROI for the business. Founded in 2013 with the mission of transforming the delivery of employee benefits from pen-and-paper and one-size-fits-all to a digitised and personalised platform, the company aims to shift healthcare spend from treatment to prevention, to improve workplace population health.
Headquartered in Singapore, CXA achieved revenue growth of 65 percent in 2018 and is expected to double that in 2019. It announced a funding round in March 2019 of USD 25 million. This follows US$33 million in total funding from Series A and B in 2015 and 2017 respectively. CXA's investors include HSBC, Singtel Innov8, Telkom Indonesia MDI Ventures, Sumitomo Corporation Equity Asia, Muang Thai Fuchsia Ventures, Humanica, Heritas Venture Fund, B Capital Group, Openspace Ventures, Government-linked strategic investor EDBI, BioVeda Capital, FengHe Asia, Philips and RGAx.
Driven by a team of industry veterans with extensive leadership experience across Asia's human resource, insurance, finance, healthcare and technology industries. CXA has received recognition as InsurTech of the Year from the 2018 Asia Insurance Industry Awards and was among the top three most impactful innovations at the SG Digital Techblazer Awards 2018.
For more information, please visit: https://www.cxagroup.com.
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