Rexit Berhad (“Rexit”) is a company that specializes in delivering solutions and services to the General Insurance and Financial services industry. Rexit’s intimate knowledge and understanding of the business processes and operations of the industry, our capability to continually identify advances in technology and successfully adapting them for the benefit of our customers, have made Rexit the solutions partner of choice.
Rexit offers several web-based insurance solutions which cater for the front-end marketing and sales functions, as well as the back-end operations and management requirements of insurance companies. Rexit also offers a suite of workflow, case management and document management applications that are suited for the financial industry.
The company is a key Software as a Service (“SaaS”) partner to insurance and unit trust companies. Rexit has recognized that this business model can greatly benefit our clients, as there is no need for upfront capital expenditure, the high cost of developing and upgrading an application or the related costs of maintaining and managing the required hardware.
Rexit released the e-Cover suite of web-based solutions under their Smart Insurance Business concept which provided an on-line system for insurance companies. With the e-Cover system, insurance transaction data is now entered by the thousands of agents instead of relying on the personnel of the insurance companies.
Through a common interface, the e-Cover system allows agents to transact for multi-principals using the same device instead of different terminals and operating environments in the past. The capability is extended to any location so long as there is access to the Internet. This fits into the business model of providing service anytime, anywhere which most insurance agents operate in.
Today thousands of insurance agents, nine insurance companies in Malaysia, one in Singapore, five banks and telcos are participating in one of the largest e-commerce portals in the country, if not regionally. Recently in 2014, KSK Insurance appointed Rexit to provide a front end motor insurance application from our e-Cover suites of solutions for their operations in Thailand.
Rexit have received recognition from the Malaysian Government in terms of a grant for research and development in new technologies; approval from the RTD/JPJ to be a gateway provider as well approval from the Central Bank to implement solutions that change the way thousands of insurance agents and many insurers conduct their business.
In 2009, the Federation of Investment Managers Malaysia (“FIMM”), with the approval of the Malaysia Employees Provident Fund (“EPF”) appointed Rexit as the third party administrator for electronic submissions by the former’s member companies to the EPF. The application known as the e-Pelaburan Pilihan Ahli (“e-PPA”) system is an industry platform for the submission of unit trust applications and redemption which are paid electronically using the EPF member’s fund.
Since the e-PPA system went ‘live’ in January 2010, it has now been adopted by the FIMM as well as non-FIMM members.
In 2008, Rexit signed agreements with Sompo Japan Insurance Inc and its subsidiary in Hong Kong William ST Lee S.T. Insurance Company Ltd for the implementation of our Integrated Insurance Management System (“IIMS”). The system implemented at their Hong Kong office has since gone live in January 2010.
Rexit also provides a niche solution with its InfoGuardian Work Management Suite which are key tools that enable quick and informed business decisions and promotes transparency between the various parties involved in any work process. Although designed for the financial services industry and their panel of law firms, the InfoGuardian Suite can be easily adapted for various industries.
Rexit Software and Rexit International, both wholly-owned subsidiary were granted MSC (“Multimedia Super Corridor”) Malaysia Company Status by the Malaysian Multimedia Development Corporation Sdn Bhd in 2004 and 2008 respectively.
As a public-listed entity, Rexit not only has the financial capacity to undertake large IT projects but also has the experience of managing large IT infrastructures. It also operates under the stringent requirements of various regulatory bodies ensuring that there is proper corporate governance and prudence in its operations.