Orient Magazine Issue 81 - April 2021 - Page 22

NEWS :
MEMBER NEWS
Member company Pacific Prime Acquires CXA Group ' s Brokerages to Become the 3rd Largest Employee Benefits Broker in Singapore and Hong Kong
Global insurance brokerage Pacific Prime has solidified its foothold in Asia Pacific by acquiring the Hong Kong and Singapore brokerage arms of CXA Group , an insurtech company that has exited this sector to focus on its cloudbased enterprise SaaS business . The acquisition deal took place on February 4th , 2021 .
CXA ' s insurtech business is backed by HSBC , Singtel Innov8 , the Singapore Economic Development Board ' s investment arm EDBI and B Capital Group , the venture firm of Facebook co-founder Eduardo Saverin .
The acquisition of CXA Group ’ s brokerage arms in Hong Kong and Singapore is a breakthrough , as Pacific Prime seeks to continually expand in the Asia Pacific region and globally . The acquisition gives Pacific Prime the technology to offer full-flex and simplified flex solutions to all of its clients around the world .
Historically , Pacific Prime has built all of its own insurtech in-house ; 15 % of its 600 staff are IT-focused . This insurtech approach has been largely responsible for Pacific Prime ' s growth over the past decade . The technology it is acquiring as part of the CXA deal is extremely complementary to Pacific Prime ' s in-house technology , and will allow Pacific Prime to offer employee benefits flex solutions to large multinationals , as well as smaller SMEs .
The acquisition will serve to bolster Pacific Prime ’ s employee benefits and compensation technology , enabling global HR teams to simplify plan administration across multiple jurisdictions and leverage valuable insights from data , as well as streamline total rewards management .
Marlborough College Malaysia receives the highest recognition from the Council of British International Schools
Marlborough College Malaysia set the pace globally by partnering with COBIS ( the Council of British International Schools ), the oldest and largest premier association of British schools overseas , to achieve the first-ever fully online Patron ' s Accreditation and Compliance with flying colours .
COBIS is a membership association that represents more than 250 British schools globally . To gain the COBIS Patron ’ s Accreditation every school must go through a robust and thorough membership process followed by ongoing monitoring and development .
This tough process ensures that COBIS member schools operate within specific guidelines of ethical practice and good governance which reflect the high standards and ethos expected of a first-class British school . The actual accreditation process lasted from November 2019 to January 2021 with online tours , lesson observations and interviews conducted in December 2020 and January 2021 . The process involved pupils , parents , staff and Governors . In addition , thousands of digital documents , dozens of films and hundreds of emails were scrutinised .
Endorsement by COBIS is challenging , rigorous and standards are examined in ten areas that include Safeguarding and Safer Recruitment , Ethos and Values , Learning and Teaching , Extra-Curricular , Enrichment and Engagement .
Marlborough College Malaysia is delighted to have been awarded 16 commendations , signifying excellence in each of the standards , in addition to the highest accolade that can be awarded , “ Beacon School ” status , which designates Marlborough College Malaysia as a centre of global best practice .
The Master , Mr Alan Stevens , stated
“ The COBIS team described the report as “ outstanding ” and it genuinely is , acknowledging the high standards , hard work , mutual support and pride that they found here in what they described as “ the remarkable community that is MCM .” It is excellent to have this validated externally by such an esteemed organisation .”