PETALING JAYA: OpenMove AI Bhd, formerly known as Rexit Bhd
, has entered the Thai market through a subscription agreement with Thai Paiboon Insurance Pcl (TPB) to deploy its proprietary Rexit Compensation Suite.
In a statement with Bursa Malaysia, the group said the agreement, signed via its wholly-owned subsidiary, Rexit International Sdn Bhd, marks its first market entry into Thailand and forms part of its regional expansion strategy.
“The Rexit Compensation Suite provides the scalability and precision we require to manage our growing portfolio efficiently, while enhancing transparency,” TPB managing director Eugene Foong Jun Seong said.
OpenMove AI chief executive Gallen Lee said Thailand’s insurance market offers strong growth potential, with total premiums projected to exceed one trillion baht by 2026.
Separately, OpenMove AI has partnered Dataone Asia (Thailand) Co Ltd as its local distribution and support partner to facilitate implementation and provide on-the-ground services.
