Market Newsdesk

April 13, 2021 9:03 am

Northeast Indiana Bancorp, Inc. Announces Record Quarterly Earnings

PR Newswire

HUNTINGTON, Ind., April 13, 2021 /PRNewswire/ — Northeast Indiana Bancorp, Inc., (OTCQB: NIDB), the parent company of First Federal Savings Bank, has announced net income of $1.89 million ($1.58 per diluted common share) for the first quarter ended March 31, 2021. This earnings level was an increase of $860,000 or 83.2% when compared to earnings from the quarter ended March 31, 2020 of $1.03 million ($0.86 per diluted common share). The current three months earnings equate to an annualized return on average assets (ROA) of 1.88% and a return on average equity (ROE) of 14.87% compared to an ROA of 1.16% and an ROE of 9.86% for the prior year quarter ended March 31, 2020.

Total assets increased $15.0 million or 3.8% to $406.3 million at March 31, 2021 compared to total assets of $391.3 million at December 31, 2020. Total loans increased $5.1 million or 1.9% to $269.3 million at March 31, 2021 compared to total loans of $264.2 million at December 31, 2020. Total deposits increased $17.7 million or 6.0% to $314.7 million at March 31, 2021 compared to $297.0 million at December 31, 2020.

Shareholders’ equity increased $300,000 to $46.0 million at March 31, 2021 compared to $45.7 million at December 31, 2020. The book value of NIDB stock increased $0.49 to $38.22 per common share as of March 31, 2021 compared to $37.73 at December 31, 2030. The number of outstanding common shares was 1,202,985. The last reported trade of the stock on April 12, 2021 was $42.00 per common share.

First Federal Savings Bank continued to be a source of strength to small business clients and non-profits in Northeast Indiana during the quarter ended March 31, 2021. The Bank participated in the SBA’s 2021 Paycheck Protection Program (“PPP”) and helped over 300 clients secure roughly $25 million in PPP funding. We also continue to work with clients, who received PPP loans in 2020, on forgiveness applications.

Northeast Indiana Bancorp, Inc. is headquartered at 648 N. Jefferson Street, Huntington, Indiana. The company offers a full array of banking and financial brokerage services to its customers through its main office in Huntington and five full-service Indiana offices in Huntington (2), Warsaw and Fort Wayne (2). The Company is traded on the OTC Markets Group, Inc. (www.otcmarkets.com) utilizing the OTCQB platform under the symbol “NIDB”. Our web site address is www.firstfedindiana.bank.

This press release may contain forward-looking statements, which are based on management’s current expectations regarding economic, legislative and regulatory issues. Factors which may cause future results to vary materially include, but are not limited to, general economic conditions, changes in interest rates, loan demand, and competition. Additional factors include changes in accounting principles, policies or guidelines; changes in legislation or regulation; and other economic, competitive, regulatory and technological factors affecting each company’s operations, pricing, products and services.

NORTHEAST INDIANA BANCORP
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

CONSOLIDATED STATEMENT OF FINANCIAL CONDITION

*ASSETS*	March 31, 2021		December 31, 2020
Interest-earning cash and cash equivalents	$	14,118,528	$	12,397,471
Noninterest earning cash and cash equivalents	3,639,359		2,311,822
Total cash and cash equivalents	17,757,887		14,709,293
Interest-earning time deposits	2,946,000		3,681,000
Securities available for sale	82,483,945		78,418,462
Securities held to maturity	11,298,326		9,442,271
Loans held for sale	1,457,450		137,000
Loans receivable, net of allowance for loan loss March 31, 2021 $3,974,475 and December 31, 2020 $3,851,897	269,293,761		264,220,486
Accrued interest receivable	1,514,335		1,516,929
Premises and equipment	5,591,737		5,282,884
Investments in limited liability partnerships	1,753,334		1,828,334
Cash surrender value of life insurance	10,136,074		10,071,443
Other assets	2,035,848		1,969,048
*Total Assets*	$	406,268,697	$	391,277,150
*LIABILITIES AND STOCKHOLDERS’ EQUITY*
Non-interest bearing deposits	60,323,371		46,257,438
Interest bearing deposits	254,331,424		250,700,577
Borrowed Funds	41,093,101		45,805,419
Accrued interest payable and other liabilities	4,540,509		2,852,005
*Total Liabilities*	360,288,405		345,615,439

Retained earnings – substantially restricted	45,980,292		45,661,711
*Total Liabilities and Shareholders’ Equity*	$	406,268,697	$		391,277,150




CONSOLIDATED STATEMENTS OF INCOME

	Three Months Ended
	March 31,
	2021		2020
Total interest income	$	3,984,611	$	3,772,563
Total interest expense		515,909		944,368
Net interest income	$	3,468,702	$	2,828,195
Provision for loan losses		120,000		220,000
Net interest income after provision for loan losses	$	3,348,702	$	2,608,195
Service charges on deposit accounts		150,822		186,039
Interchange fees		157,127		146,906
Net gain on sale of loans		629,489		277,171
Net loss on sale of repossessed assets		–		(18,186)
Brokerage fees		77,337		56,760
Increase in cash surrender value of life insurance		64,631		57,350
Other income		148,302		144,388
Total noninterest income	$	1,227,708	$	850,428
Salaries and employee benefits		1,130,162		1,296,191
Occupancy		271,275		245,504
Data processing		324,992		270,101
Deposit insurance premiums		24,500		20,000
Professional fees		94,284		64,436
Advertising and marketing fees		56,597		55,603
Correspondent bank charges		25,604		32,735
Other expense		310,424		269,671
Total noninterest expenses	$	2,237,838	$	2,254,241
Income before income tax expenses	$	2,338,572	$	1,204,382
Income tax expense		445,664		171,083
Net Income	$	1,892,908	$	1,033,299



NORTHEAST INDIANA BANCORP
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

	Three Months Ended March 31,
	2021		2020
Basic Earnings per common share	1.58		0.86
Dilutive Earnings per share	1.57		0.86
Net interest margin	3.72%		3.40%
Return on average assets	1.88%		1.16%
Return on average equity	14.87%		9.86%
Efficiency ratio	47.65%		61.28%
Average shares outstanding- primary	1,200,351		1,201,805
Average shares outstanding- diluted	1,200,618		1,201,805
Allowance for loan losses:
Balance at beginning of period	$	3,851,897	$	3,191,605
Charge-offs:
One-to-four family	–		17,952
Commercial real estate	–		–
Land/land development	–		–
Commercial	–		–
Consumer	50,261		33,443
Gross charge-offs	50,261		51,395
Recoveries:
One-to-four family	1,479		903
Commercial real estate	–		–
Land/land development	–		–
Commercial	390		54,000
Consumer	50,969		28,473
Gross recoveries	52,839		83,376
Net charge-offs/(recoveries)	(2,578)		(31,981)
Additions charged to operations	120,000		220,000
Balance at end of period	$	3,974,475	$	3,443,586

Net loan charge-offs / (recoveries)to average loans (1)	(0.00%)		(0.05%)

Nonperforming assets (000’s)	At March 31,		At December 31,
Loans:	2021		2020
Non-accrual	$	4,538	$	5,034
Past 90 days or more and still accruing	–		–
Troubled debt restructured	364		374
Total nonperforming loans	4,902		5,408
Real estate owned	5		5
Other repossessed assets	–		–
Total nonperforming assets	$	4,907	$	5,413

Nonperforming assets to total assets	1.21%		1.38%
Nonperforming loans to total loans	1.79%		2.02%
Allowance for loan losses to nonperforming loans	81.07%		71.23%
Allowance for loan losses to net loans receivable	1.48%		1.46%


	At March 31,
	2021		2020
Stockholders’ equity as a % of total assets	11.32%		11.81%
Book value per share	$ 38.22		$ 35.43
Common shares outstanding- EOP	1,202,985		1,210,379

(1) Ratios for the three-month periods are annualized.

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SOURCE Northeast Indiana Bancorp, Inc.

April 13, 2021 9:03 am

Wyndham Hotels & Resorts Continues Strong Growth in Asia Pacific with Accelerated Expansion Planned in 2021

With 180 hotel openings expected in 2021 alongside its robust Asia Pacific development pipeline, Wyndham Hotels & Resorts is helping to drive the hospitality industry forward into recovery

PR Newswire

SINGAPORE and PARSIPPANY, N.J., April 13, 2021 /PRNewswire/ — Wyndham Hotels & Resorts, the world’s largest hotel franchising company and leading provider of hotel management services with over 8,900 hotels across nearly 95 countries, continued on a strong growth trajectory in Asia Pacific in 2020, overcoming global uncertainty to achieve a series of important hotel openings, major milestones and a strong pipeline of new properties scheduled to launch in 2021 and beyond.

In a year of significant challenges for the travel and hospitality industries, Wyndham successfully opened over 125 new hotels and signed a further 140 properties in Asia Pacific last year, putting it in a leading position in the industry with over 1,500 hotels in 20 regional markets and territories.

This year, the growth is expected to continue with an estimated 40 percent increase in openings or approximately 180 hotels anticipated to open in Asia Pacific. Through its robust Asia Pacific pipeline of directly franchised and managed hotels, alongside strong relationships with master franchisees, Wyndham is on track to reach 2,000 hotels in Asia Pacific within the next three years.

“Strong partnerships with our owners will be key to our continued growth and our mutual success. We are building on the momentum achieved in 2020, as industries gear towards recovery in 2021, and our robust openings and hotel deal executions will pave the way for continued growth for the company. With so many great hotel openings and signings, it is a testament to the enduring confidence that our partners have in Wyndham’s world-class brands. As we expand our scale, our reach, our distribution and our base of loyal Wyndham Rewards members, we will help create even greater benefits for everyone in our value chain,” said Joon Aun Ooi, President, Asia Pacific, Wyndham Hotels & Resorts.

Alongside the company’s extensive support measures for its existing hotel owners and partners, these milestone openings will put Wyndham in the best possible position to benefit from pent-up demand once travel restrictions eventually ease which is expected to occur in the coming months.

Accelerated Growth in 2021 Builds on Major Milestones in 2020

Wyndham introduced five of its brands to new markets across Asia Pacific in 2020, as Howard Johnson by Wyndham launched in Cambodia, and Japan welcomed its first Wyndham Grand and Wyndham Garden hotels. In addition, Asia Pacific’s inaugural Dolce by Wyndham and La Quinta by Wyndham hotels were launched in Vietnam and New Zealand respectively.

Greater China
, where Wyndham is one of the leading international hotel operators in the country, continued to show a strong appetite for Wyndham’s brands and concepts in 2020. In total, the Company executed over 100 agreements across the country last year, including the signing of an agreement to introduce the Dolce by Wyndham brand to Foshan in the Guangdong province, as well as the successful introduction of Ramada Encore by Wyndham to Hualien, Taiwan.

Over 100 hotels are expected to open in Greater China this year, and its expansion drive starts with the successful conversion of the 346-room Wyndham Xinyang Downtown, a prominent hotel located in the heart of the central business district that represents the first Wyndham hotel in Xinyang, Henan, as well as the Microtel by Wyndham Tianjin, the first of seven Microtel hotels expected to open this year.

Other key openings anticipated this year include: Wyndham Beijing Airport, which is just a four minute drive from Beijing Terminal 3, and China’s first La Quinta hotel in Weifang, Shandong province. The Wingate by Wyndham brand will be boosted by the launch of Wingate Beihai Yintan, located in Guangxi province. Meanwhile in Taiwan, TRYP by Wyndham will launch in Linkou, New Taipei City.

Thailand
is another strategic market for Wyndham, and the Company opened two hotels in 2020 including the launch of Wyndham Grand Nai Harn Beach Resort Phuket, and the successful rebranding of Ramada by Wyndham Bangkok Chaophya Park.

The Company plans to open seven new properties in 2021 in popular destinations across Bangkok, Pattaya and Phuket. Key openings this year are expected to include Wyndham Bangkok Queen Convention Centre, Ramada Plaza by Wyndham Bangkok Sukhumvit 48, Ramada Plaza by Wyndham Sukhumvit 87, and Wyndham Garden Bangkok Sukhumvit 42, all of which are located in Bangkok’s central business district, along with Wyndham Atlas Wongamat Pattaya, Wyndham LaVita Resort Phuket and Wyndham Garden Platinum Kamala Phuket. Within the next 3 years, Wyndham intends to open as many as 20 hotels located in popular destinations such as Pattaya and Phuket.

In Vietnam, Wyndham accelerated its market presence with the introduction of three new hotels in 2020, including several landmark properties. The spectacular Dolce by Wyndham Golden Lake Hanoi became the brand’s first Asia Pacific outpost in 2020. The expansion of its upscale offerings include Wyndham Sky Lake Resort & Villas in Hanoi and the Wyndham Grand Flamingo Dai Lai Resort, an award-winning property nestled just north of Dai Lai Lake.

Four additional hotels are expected to unveiled in Vietnam this year, including the recently opened Wyndham Grand Flamingo Cat Ba, followed by the landmark Wyndham Soleil Danang, which will become Danang’s tallest building, as well as Wyndham hotels in Quang Binh and Phu Quoc, In total, Wyndham’s portfolio in Vietnam is forecast to almost triple by 2024, from seven to over 20 properties nationwide.

Wyndham maintained its strong position in South Korea in 2020, with the opening of three new hotels situated in Gumi, Yeosu and Chuncheon. These include Ramada Plaza by Wyndham Dolsan Yeosu, located in the popular coastal city, and Ramada by Wyndham Gumi, which became the first global hotel chain offering in Gumi, a major industrial complex. Looking ahead, a series of new Wyndham and Wyndham Grand hotels are due to start operating in South Korea in the coming years that will offer the flagship brands’ upscale and distinctive experiences.

As part of its multi-brand strategy in Australasia, the Company recently opened its LQ by Wyndham Remarkables Park Queenstown which marked the debut of La Quinta in Asia Pacific. InNew Zealand, three new hotels are anticipated to open this year under the Ramada by Wyndham and Wyndham Garden brand in Wellington, Auckland and Christchurch. Other new launches ahead include two new TRYP by Wyndham hotels, which will mark the brand’s debut in New Zealand.

Over 15 hotels are in the development pipeline for Australia, including the arrival of exciting new brand concepts like the Wyndham and Wyndham Garden in South Australia, TRYP by Wyndham in Western Australia, Queensland, Victoria and South Australia, as well as the highly anticipated arrival of Wyndham Grand brand in Adelaide.

Throughout the global pandemic, Wyndham remained focused on supporting its hotels, owners, partners and loyal guests through a wide range of commercial initiatives as well as its Count on Us^® health and safety initiative, that will help its hotels welcome back guests with confidence as the world starts to reopen for business.

About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with over 8,900 hotels across nearly 95 countries on six continents. Through its network of approximately 796,000 rooms appealing to the everyday traveller, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®, Wyndham Hotels & Resorts is also a leading provider of hotel management services. The Company’s award-winning Wyndham Rewards loyalty program offers 86 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit www.wyndhamhotels.com.

This press release contains “forward-looking statements” within the meaning of U.S. federal securities laws, including the expected addition of hotels within the Asia Pacific Region and similar statements concerning possible future results or performance. You are cautioned not to place undue reliance on these forward-looking statements, which are not guarantees of future results or performance, speak only as of the date of this press release and are subject to numerous risks and uncertainties, including the risks described in Wyndham Hotels’ most recent Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission, any of which could cause actual results or performance to be materially different from the future results or performance expressed or implied by such forward-looking statements. Except as required by law, Wyndham Hotels undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise.

Contacts:
Abigail Foo
Wyndham Hotels & Resorts
South East Asia and Pacific Rim
M: +65 9067 8040
[email protected]

Scott Carman

Wyndham Hotels & Resorts
+1 (973) 753-6590
[email protected]

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SOURCE Wyndham Hotels & Resorts

April 13, 2021 9:03 am

CECO Mefiag Introduces New Eco-friendly, Self-Cleaning Filtration System that Significantly Improves Customer Productivity

PR Newswire

DALLAS, April 13, 2021 /PRNewswire/ — CECO Environmental Corp. (“CECO,” “CECO Environmental”) (NASDAQ: CECE), a global leader in providing environmental and equipment solutions to a variety of end markets, is pleased to announce the release of a new patent-pending Self-Cleaning Filtration System that significantly reduces the number of filter changes and associated downtime thereby lowering total costs and reducing environmental waste. The system is designed for plating applications used in lighting and plumbing fixtures, appliances, automotive, aerospace, electronics, coinage, fasteners, and mechanical hand tools.

“We are excited to offer this purpose-built solution that meets our customer needs for lowering annual maintenance costs, increasing uptime, and reducing environmental waste with this more sustainable and environmentally friendly technology,” says Chris Tsourides, President of CECO’s Industrial Air and Fluid Solutions segment. “The self-cleaning filter system is automated to clean itself by monitoring the rise in differential pressure across the inlets and outlets due to contaminant loading. As contaminants accumulate on the filter media product flow through decreases,” continues Tsourides. “CECO Mefiag has almost 70 years of experience developing turnkey fluid delivery systems (pumps, filtration, valves, pressure vessels, piping, control panels, skid mounted) and this patent-pending design continues the rich history of innovation from CECO.”

The Self-Cleaning Filter System replaces conventional filter systems. Traditionally, end users of plating processes opt for disposable filter media due to the low initial cost, but don’t consider the total life-cycle cost of the filter. Depending on the process, scale and frequency, maintenance costs could range from $10,000 to $100,000 annually not including lost downtime. With CECO Mefiag’s new Self-Cleaning Filtration System, customers can expect to benefit from an estimated 75% in cost savings or greater compared to replacement filters.

“The new CECO Mefiag Self-Cleaning Filtration System enables higher productivity for our customers,” said Lars Theunissen, General Manager of CECO Mefiag. “With our Self-Cleaning solution, our customers will reduce downtime as well as the regulatory paperwork and processes associated with disposing of alternative filter systems. Additionally, we improve employee safety by reducing exposure to VOCs (volatile organic compounds) and potential chemical spills that may occur during routine filter change-outs.”

More information can be found by visiting https://www.cecoenviro.com/ceco-mefiag-new-self-cleaning-filters

About CECO Environmental: CECO Environmental is a global leader in air quality and fluid handling serving the energy, industrial and other niche markets. Providing innovative technology and application expertise, CECO helps companies grow their business with safe, clean, and more efficient solutions that help protect our shared environment. In regions around the world, CECO works to improve air quality, optimize the energy value chain, and provide custom-engineered solutions for applications including oil and gas, power generation, water and wastewater, battery production, polysilicon fabrication, chemical and petrochemical processing along with a range of others. Learn more by visiting www.cecoenviro.com.

CONTACT: Hila Shpigelman, [email protected]

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SOURCE CECO Environmental Corp.

April 13, 2021 9:03 am

Fullstack Academy Launches Data Analytics Bootcamp Program

New 10-to-26-week curriculum teaches SQL, Python and data visualization skills needed for in-demand data analytics jobs

PR Newswire

NEW YORK, April 13, 2021 /PRNewswire/ — Fullstack Academy, a national tech education provider, announced today that it has expanded its bootcamp portfolio by launching a data analytics curriculum aimed at training professionals with the skills needed to qualify for and fill the 600,000-plus data job postings in the U.S.

In addition to more than half-million available jobs in data analytics, the industry projects a 21.5% job growth rate over the next decade. Demand for data analytics professionals has driven the average median salary for entry level data analysts to nearly $75,000 across the country, according to Burning Glass, an analytics software company.

The new bootcamp curriculum provides interested tech career-seekers with an opportunity to close the skills-gap and enter the workforce in as little as 10 weeks.

“As corporate and industrial investment in digital transformation, machine learning and statistical modeling for leaner operations and smarter decision-making continues to grow, technology industry-leading businesses are searching for highly skilled data analysts now more than ever,” said Mogan Subramaniam, President of Fullstack Academy. “To help meet these needs, we’ve developed a dynamic curriculum and have hired exceptional instructors to ensure this program matches the experience and success of our coding and cybersecurity bootcamps.”

Taught by data analytics professionals, Fullstack’s Data Analytics Bootcamp will ensure students learn SQL, Python and data visualization skills and earn the most in-demand certifications that companies seek when hiring talent for these positions.

Registration is now open for the full-time, 10-week or part-time, 26-week bootcamps at Fullstack’s New York City campus. In the coming months, Fullstack will also launch this curriculum with several of its university partners across the U.S.

“In nearly every industry – from retail and banking to manufacturing and construction – companies are transitioning to data-driven practices that improve efficiency, profitability and safety, said Lesia Harhaj, Director of Career Success at Fullstack Academy. “Similar to our coding and cyber bootcamps that have helped students transition into tech careers, this program will support students every step of the way as they seek to enter into the data analytics field. From learning the basics to building a portfolio and supporting the job search through networking opportunities with employers, students are provided coaching and other resources to help them create a job-search tool kit and enter a growing, in-demand industry.”

Fullstack offers scholarships ranging from $1,000 to full-tuition for the bootcamp, and also provides financing options through its loan partners. It also hosts prep courses that allow students to decide if data analytics is an ideal career path before investing in the full bootcamp. Individuals may learn more at https://www.fullstackacademy.com/data-analytics-bootcamp.

About Fullstack Academy

Fullstack Academy is a coding bootcamp based in New York City. Founded in 2012, it offers web development and cybersecurity bootcamps at its Chicago and New York City campuses and online. Fullstack Academy also offers the Grace Hopper Program, an immersive software engineering course for women+ students, in addition to partnerships with leading universities nationwide, including Virginia Tech, Caltech CTME, and Louisiana State University. Graduates have been hired by Google, Facebook, Amazon, Fortune 100 firms, and startups. Fullstack Academy is a part of the Zovio (Nasdaq: ZVO) network.

About Zovio

Zovio (Nasdaq: ZVO) is an education technology services company that partners with higher education institutions and employers to deliver innovative, personalized solutions to help learners and leaders achieve their aspirations. The Zovio network, including Fullstack Academy and TutorMe, leverages its core strengths to solve priority market needs through education technology services. Using proprietary advanced data analytics, Zovio identifies the most meaningful ways to enhance the learner experience and deliver strong outcomes for higher education institutions, employers, and learners. Zovio’s purpose is to help everyone be in a class of their own. For more information, visit www.zovio.com.

Contact: Tyler Holder
[email protected]
(321) 289-1192

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SOURCE Fullstack Academy

April 13, 2021 9:03 am

Aon Launches Innovative Industry Collaboration to Protect Global COVID-19 Vaccine Shipments

Aon will donate all 2021 revenues from new solution to a charity dedicated to eradicating the global human and economic toll of the pandemic.

PR Newswire

CHICAGO, April 13, 2021 /PRNewswire/ — Aon plc (NYSE: AON), a leading global professional services firm providing a broad range of risk, retirement and health solutions, today introduced a new solution, through broad industry collaboration, that will provide supply chain protection for global COVID-19 vaccine shipments.

The solution provides transparent cargo insurance coverage for COVID-19 vaccines by combining sensor data and analytics. The offering enhances All Risk Marine Cargo insurance with timely payment for doses that fall outside of the agreed-upon temperature range while being transported or stored, enabling more effective risk management and claims support. Real-time reporting of any temperature deviation will also provide for the mitigation of losses and help maximize the number of doses that are administered to the public.

“Rather than accept the so-called new normal, at Aon we continue to strive toward a New Better,” said Greg Case, CEO, Aon. “We will continue to push the envelope to create innovative solutions that propel our economy and society forward. Providing supply-chain protection for the delivery of COVID-19 vaccines around the world is an important step in that process.”

Aon will donate 100 percent of all revenues earned from this new solution in 2021 to a charity dedicated to eradicating the global human and economic toll of the pandemic.

The offering is made possible through a collaboration with insurtech firm Parsyl, which will serve as the dedicated data platform for the solution on behalf of the insurers, and specialist underwriter Ascot Group acting as the lead underwriter, binding insurers Chubb European Group SE and AIG, with reinsurance support from Munich Re. Other insurers include AEGIS London, Antares Managing Agency Ltd (a QIC Global company), AXA XL, AXIS Insurance, Beazley, Fidelis, MS Amlin and Talbot.

“Aon has been working on client solutions utilizing sensor technology in the supply chain for several years,” said Lee Meyrick, Chief Executive Officer, Global Marine, Commercial Risk Solutions at Aon. “Recognizing the concerns faced with the global distribution of COVID-19 vaccines, we explored the development of a new solution to provide financial protection to the companies involved in the distribution process. Working with leaders in the industry, we were quickly able to build out a group of like-minded insurers that are willing to underwrite the risks using verifiable and effective sensor technologies.”

“We’re pleased to be part of another collaboration of market leaders coming together to address the biggest global health crisis of our time,” said Andrew Brooks, CEO of Ascot Group. “This collaboration will make available more capacity and bring to market additional products that will enable effective vaccine distribution at a global scale.”

“It’s critical that we deliver potent COVID-19 vaccines to everyone, everywhere. To do that, we must collect data to understand what happens to these sensitive shipments as they make their journey from factory to syringe. This insurance solution will help complement existing industry efforts focused on developing countries by providing protection for vaccine supply chains in additional markets. We’re proud to be enabling another insurance solution and contributing to effective vaccine distribution around the world,” said Ben Hubbard, CEO, Parsyl.

The solution will allow for the integration of a wide range of sensing devices, and power better risk management and claims support. The solution is available to qualified parties in the vaccine supply chain including pharmaceutical firms, government bodies, transportation and logistics companies, distributors, health systems, pharmacy chains and inoculation centers.

While this new innovative solution will not mandate the utilization of specific Internet of Things (IoT) platforms or sensor devices¹, insured companies will have the option to access those services and products on a complimentary basis during 2021 from companies that are committed to enhancing the global distribution of COVID-19 vaccines. ChronosCloud, Intel, Mastercard and Sensitech, a part of Carrier Global Corporation, have agreed to donate access to certain platforms, blockchain technology or devices as part of the risk management solution².

“ChronosCloud is proud to collaborate with Aon in the fight against COVID-19. Our cloud-based platform connects all partners of the supply chain with real-time Internet of Things sensors for active condition monitoring,” said John Hoyt, Managing Director of ChronosCloud. “ChronosCloud actively responds to any temperature fluctuations, so shippers can ensure continuous quality. This powerful platform plays an important role as a part of Aon’s vaccine delivery initiative.”

“Intel has been working closely with Aon, Mastercard and ChronosCloud to provide secure computing platforms to address the challenges in the safe and accurate global distribution of COVID-19 vaccines,” said Christine Boles, VP/General Manager of Intel’s Industrial Solutions Division. “Technology used to its full potential can save lives and change lives. We look forward to supporting Aon in its efforts to address the challenges that COVID-19 vaccine distribution present.”

“Our collaboration with Aon and ChronosCloud comes at an important time when modern supply chains are becoming increasingly complex, and end-to-end visibility is essential,” said Carlos Menendez, President, Enterprise Partnerships at Mastercard. “Mastercard Provenance Solution enables the technical foundation to track the journey in real time leveraging the immutability of blockchain, ultimately providing better risk management and minimizing disputes through a trusted, shared record of shipments.”

“We are pleased to be a part of this global collaboration with Aon and the other industry leaders. As the COVID-19 vaccine distribution efforts continue to expand to reach all populations, Sensitech’s real-time temperature and location data will help to reduce problem escalations and enable nimble decision making with facts,” said Mike Hurton, Vice President & General Manager, Sensitech.

Learn more about how businesses have shifted in response to the pandemic, in Helping Organizations Chart a Course to The New Better.

^¹ Parsyl to validate data integration availability by sensor make and model.

²Complimentary services offered with the insurance coverage will be provided through the end of 2021 and subject to limitations and a program aggregate.

About Aon

Aon plc (NYSE: AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.

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SOURCE Aon plc

April 13, 2021 9:03 am

Frank Jennings Joins Castlight Health as Senior Vice President & Chief Sales Officer

Digital Health Veteran to Lead Company’s Employer Sales Function to Support Accelerated Market Demand for Next-Gen Health Navigation

PR Newswire

SAN FRANCISCO, April 13, 2021 /PRNewswire/ — Castlight Health, Inc. (NYSE: CSLT), a leader in healthcare navigation, today announced the addition of top digital health sales leader Frank Jennings as senior vice president and chief sales officer. Jennings brings more than 25 years of sales strategy and business development experience to Castlight, serving most recently as chief commercial officer at Covera Health, a leading clinical analytics company focused on reducing misdiagnosis. Prior to Covera, Jennings played a key leadership role at Doctor on Demand as a strategic advisor and senior vice president of Sales, and earlier as vice president in new business development for Castlight.

“I am thrilled to announce Frank is rejoining Castlight to play an important role on our leadership team,” said Maeve O’Meara, chief executive officer of Castlight Health. “Frank was a top performer at Castlight during the company’s early success, and has since led high-performing, enterprise sales teams at digital health technology companies focused on the employer and health plan markets. His deep industry expertise as one of the original creators of the digital health market and his phenomenal sales leadership will help us meet the accelerated demand for next-generation health navigation solutions.”

Today’s announcement further enhances Castlight’s executive team, building on the recent hires of Richa Gupta as chief people officer, Vijay Anand as executive vice president of Engineering, and Angel Rosa as senior vice president of Customer Experience. New executive and strategic advisors such as Scott Serota, former president and CEO of Blue Cross Blue Shield Association, and Brian Marcotte, former president and CEO of the Business Group on Health, well-position Castlight to support current and future market needs.

“I’m excited to have the opportunity to come back to Castlight to focus on building a world-class sales organization to meet this amazing market opportunity,” said Frank Jennings, senior vice president and chief sales officer of Castlight Health. “Castlight has all the right ingredients at the right time to lead the market in next-gen health navigation. I’m grateful to be part of this wonderful culture a second time, and to be a part of the exciting evolution of the company as it enters its next growth phase.”

About Frank Jennings

Frank Jennings brings more than 25 years of experience in business development and management of sales professionals in a variety of technology services centered around employee benefits. Most recently, Jennings served as chief commercial officer at Covera Health, a clinical analytics company focused on reducing medical misdiagnosis.. Prior to Covera, Jennings led sales strategy as strategic advisor and senior vice president of Sales for Doctor on Demand, with additional sales leadership and new business development roles at Castlight Health, SuccessFactors, and ADP. His passion is anchored around helping technology companies that are committed to delivering better healthcare outcomes, devise their go-to-market strategy, and win market share. Jennings holds a Bachelor of Arts from Ohio State UniversityFisher College of Business.

About Castlight Health
Castlight is on a mission to make it as easy as humanly possible for people to navigate the healthcare system and live happier, healthier, more productive lives. As a leader in healthcare navigation, we provide a world-class digital platform with a team of clinical and benefits experts to help members easily connect and engage with the right programs and care, at the right time. Castlight partners with Fortune 500 companies and health plans to transform employee and member benefits into one comprehensive health and wellbeing experience to deliver better health outcomes and maximize returns on healthcare investments.

For more information visit www.castlighthealth.com. Follow us on Twitter and LinkedIn and like us on Facebook.

Media Contacts:
Caroline Kawashima
Castlight Health
[email protected]

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SOURCE Castlight Health, Inc.

April 13, 2021 9:03 am

Cardinal Health awarded Strategic National Stockpile contract for PPE storage and distribution

PR Newswire

DUBLIN, Ohio, April 13, 2021 /PRNewswire/ — Cardinal Health (NYSE: CAH) was awarded a $57.8 million contract, including options that if exercised by the U.S. Department of Health and Human Services (HHS) could reach $91.6 million, for the storage and distribution of 80,000 pallets of personal protective equipment (PPE) to support the Strategic National Stockpile (SNS), part of the Office of the Assistant Secretary for Preparedness and Response within HHS.

“Cardinal Health is uniquely positioned to get critical products to healthcare providers and first responders as effectively, safely, and swiftly as possible in response to the COVID-19 pandemic,” said Steve Mason, CEO Medical Segment. “Cardinal Health is proud to help the country by providing this critical pandemic support in partnership with the U.S. government.”

With its expansive distribution network, Cardinal Health can provide rapid deployment and delivery of SNS product throughout the U.S. and its territories, as directed by the U.S. government, to assist with critical PPE needs in response to the COVID-19 pandemic as well as other national or localized public health emergencies. PPE product within the SNS, to be stored across U.S. Cardinal Health medical facilities, includes inventory from multiple manufacturers/vendors under contract with the U.S. Government that is provided to multiple sources and care institutions.

About Cardinal Health
Cardinal Health is a distributor of pharmaceuticals, a global manufacturer and distributor of medical and laboratory products, and a provider of performance and data solutions for healthcare facilities. With 50 years in business, operations in more than 40 countries and approximately 48,000 employees globally, Cardinal Health is essential to care. Information about Cardinal Health is available at cardinalhealth.com.

Contacts
Media: Erich Timmerman, [email protected] and (847) 887-1487; Investors: Kevin Moran, [email protected] and (614) 757-7942.

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SOURCE Cardinal Health

April 13, 2021 9:03 am

Lennox International Schedules First Quarter Conference Call

PR Newswire

DALLAS, April 13, 2021 /PRNewswire/ — Lennox International Inc. (NYSE: LII), a global leader in energy-efficient climate-control solutions, today announced plans to report first quarter 2021 financial results before the market opens on Monday, April 26, 2021. A conference call is scheduled for the same day at 8:30 a.m. Central time. All interested parties are invited to listen as Chairman and CEO Todd Bluedorn and CFO Joe Reitmeier comment on the company’s financial results and outlook, followed by Q&A.

To listen, call the conference call line at 844-867-6169 (U.S.) or 409-207-6975 (international) at least 10 minutes prior to the scheduled start time and use participant code 5260831. The conference call also will be webcast on Lennox International’s web site at www.lennoxinternational.com.

A replay of the conference call will be available from approximately 11:00 a.m. Central time on April 26 through May 10, 2021 by dialing 866-207-1041 (U.S.) or 402-970-0847 (international) and using access code 7601253. The call also will be archived on the company’s web site.

About Lennox International
Lennox International Inc. is a global leader in energy-efficient climate-control solutions. Dedicated to sustainability and creating comfortable and healthier environments for our residential and commercial customers while reducing their carbon footprint, we lead the field in innovation with our air conditioning, heating, indoor air quality, and refrigeration systems. Lennox International stock is listed on the New York Stock Exchange and traded under the symbol “LII”. Additional information on Lennox International is available at www.lennoxinternational.com or by contacting Steve Harrison, Vice President, Investor Relations, at 972-497-6670.

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SOURCE Lennox International Inc.

April 13, 2021 9:03 am

Pega Process AI Delivers Self-Optimizing Process Automation

New Pega Platform capability drives even greater process efficiency and effectiveness at enterprise scale

PR Newswire

CAMBRIDGE, Mass., April 13, 2021 /PRNewswire/ — Pegasystems Inc. (NASDAQ: PEGA), the software company that crushes business complexity, today announced Pega Process AI – a new set of Pega Platform™ capabilities that help organizations optimize their business and customer operations in real time. By infusing self-optimizing AI and decision management into its low-code process automation software, Pega offers the only solution that can intelligently triage millions of incoming customer requests, transactions, and other events at enterprise scale. This enables fast and effective event resolutions while helping to lower operating costs and simplify employee and customer experiences.

As digital expectations continue to skyrocket, organizations are turning to process automation to more efficiently assist their employees and customers. But most automation solutions are too slow and rigid to meet the dynamic needs of the enterprise and even lack basic business rules capabilities. While some automation offerings have been enhanced with AI, they still can’t scale enough to analyze the massive streams of data signals being emitted from customers that can help organizations make smarter decisions.

Process AI turbocharges the value of process automation by applying powerful and proven real-time AI, event stream processing, machine learning, decisioning, and natural language processing (NLP) to any business process. These capabilities analyze millions of streaming events and immediately make intelligent decisions so each case gets quickly resolved. Using hundreds of self-learning models, Process AI also streamlines inefficient processes on the fly to better optimize business outcomes. This enables enterprises to more effectively and efficiently resolve events – and even anticipate issues before they arise – so they deliver the best possible customer and employee experiences.

For example, an insurance company can use Process AI to triage a surge of incoming claim requests after a major storm by automatically approving claims or routing more complex incidents to the best available agent; a financial services company can scan fraud alerts in real time and automatically open a case for a relevant security expert to investigate; or a manufacturer can analyze IOT-connected device signals and, if it predicts trouble on the horizon, proactively open a service ticket and notify a dealer and end customer to the potential issue.

With Process AI, organizations can optimize and simplify their back-end processes to realize the following benefits:

Deliver more effective service at scale – Process AI analyzes thousands of events per second with advanced event processing and real-time decisioning to determine which requests can be automatically processed and which need human assistance to resolve. If it identifies a particularly complex issue, the software will open a case, populate it with the available information, and intelligently route it to the most relevant expert to resolve it. This helps organizations quickly and accurately make the right servicing decisions that result in optimal customer outcomes – even during high-volume service times for the largest and most complex companies.
Increase process efficiency on the fly – As the system processes more events, it uses predictive analytics and machine learning to monitor case outcomes and uncover new ways to improve the process. Those learnings are applied on the fly so the process works more efficiently the next time a similar case arises, saving the organization valuable time and resources. Over time, the system continues to dynamically fine tune its processes as conditions change, resulting in even more efficiencies while adapting to new variables.
Make it easy to create and modify process AI models – Process AI provides a low-code machine learning authoring interface that simplifies how process AI models are developed and managed over their lifecycle. Users can easily update their models as changes are needed over time. Model reports allow users to monitor the model’s health and performance. Optimized for cross-functional fusion teams, the functionality can be customized for different user personas, enabling better collaboration between IT, data scientists, and business users.

As with all Pega AI capabilities, Process AI adheres to the tenets of Responsible AI. This helps ensure algorithms result in fair and balanced outcomes that avoid unintended bias. Pega gives users more control over their AI by providing transparency settings to help companies mitigate potential risks and maintain regulatory compliance. In addition, it provides robust self-learning capabilities that can handle outlier events when exposed to real-world circumstances.

Process AI is part of Pega Platform, a unified and open platform providing a seamless Center-out™ method for connecting operational processes with customer experiences. Using case management as the foundation, organizations are able to create applications fast with Pega’s low-code approach, empowering developers regardless of their skill level. With Pega Platform, users can achieve end-to-end automation with an enterprise-grade, low-code business automation platform that gets work done, makes better decisions, and ultimately reduces cost, complexity, and uncertainty.

Availability:
Process AI will be available for purchase as an add on for Pega Platform clients by the end of Q2 2021 as part of the Pega Infinity 8.6 product release. For more information on Process AI, attend the annual PegaWorld iNspire virtual summit on May 4 at 9 a.m. EDT at www.pegaworld.com or visit www.pega.com/technology/process-ai.

Quotes & Commentary:
“Slick user interfaces quickly lose their luster with customers if the back-end processes driving the actual work are too slow and inefficient to deliver on brand promises,” said Don Schuerman, CTO and vice president of product marketing, Pegasystems. “Pega Process AI combines two of Pega’s most advanced solutions – AI and intelligent automation – to help ensure promises made at the front end are promises kept at the back end. By infusing AI into our deep expertise with case management and process automation, we help clients more efficiently and effectively serve their customers and assist their employees.”

Supporting Resources:

About Pega
Pega delivers innovative software that crushes business complexity so our clients can make better decisions and get work done. We help the world’s leading brands solve their biggest business challenges: maximizing customer lifetime value, streamlining customer service, and boosting operational efficiency. Pega technology is powered by real-time AI and intelligent automation, while our scalable architecture and low-code platform help enterprises adapt to rapid change and transform for tomorrow. For more information on Pegasystems (NASDAQ:PEGA), visit www.pega.com.

Press Contact:

Sean Audet

Pegasystems
[email protected]
Twitter: @pega

All trademarks are the property of their respective owners.

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SOURCE Pegasystems Inc.

April 13, 2021 9:03 am

HP and Innofibre Showcase Significant Performance, Reliability and Cost Advantages of New HP Molded Fiber Packaging and Production Solution

New Customers, Technology Advancements, and Independently Verified Performance Data Highlight Traction of HP’s Disruptive New Solution

News highlights:

Innofibre, the industry’s leading independent research institute in Quebec, Canada, validates significant advantages of new HP Molded Fiber Advanced Tooling Solution
Partners and customers Eco Pulp, PMD, Polyco Healthline Group, Veritiv, Vernacare and others exploring opportunities for entirely new packaging designs
New technology advancements provide increased productivity and digital production of higher quality, more customized molded fiber tools

PALO ALTO, Calif., April 13, 2021 (GLOBE NEWSWIRE) — Today at the International Molded Fiber Association (IMFA) annual conference, the leading event for the molded fiber industry, HP showcased independently verified performance leadership, partners and customers driving entirely new packaging designs, and significant technology advancements for its recently introduced HP Advanced Molded Fiber Tooling Solution.

The HP Molded Fiber Advanced Tooling Solution is an innovative and environmentally-friendly solution for molded fiber manufacturers. Today, Innofibre, the industry’s leading expert on cellulosic product innovation, released new research data validating HP’s solution as a more productive, efficient option for molded fiber tooling compared with traditional woven wire tooling.

“Based on our testing, HP’s Molded Fiber Advanced Tooling Solution can offer greater precision, along with faster forming and drainage times,” said Tarik Jabrane, NSERC Industrial Research Chair, Innofibre. “Compared to traditional molded fiber tooling, HP’s tools can be changed quickly and easily, with fewer stops in the workflow. The speed of iteration and ability to change tools enables more prototyping and ultimately provides a more cost effective option for the industry.”

“We are proud our efforts to introduce a truly disruptive solution for the packaging industry have been validated by Innofibre’s research,” said Mariona Company, Global Head of Molded Fiber Solutions, HP Inc. “Based on the data released by Innofibre, it is no surprise we are gaining traction with molded fiber manufacturers in Europe, the US and Canada as they look for innovative new tooling options to meet customer demand. This is just the beginning, we are committed to advancing our solution, helping the molded fiber industry grow and accelerating the transition from single use plastics to sustainable packaging.”

Market Leading Productivity and New Design Possibilities

Molded fiber, also known as molded pulp, is currently used in handling and packaging thousands of renewable products from food containers to packaging of household items and electronics to single-use medical service items.

Unveiled in September 2020, HP’s Molded Fiber Advanced Tooling technology enables fast and enhanced design and fabrication of high-performance molded fiber tooling in as quickly as two weeks¹ compared to four to six weeks experienced by customers using traditional methods². Combined with HP’s new tooling production service, the end-to-end solution yields increased production up time, reduced maintenance, and mass customization capabilities.

Key findings published by Innofibre confirm that the HP solution delivers a greater number of stronger parts more quickly than traditional tooling.

Improved fiber retention resulting in stronger parts: due to its excellent first pass pulp retention, especially of the longest fibers, HP tooling uses less fiber to make parts with greater strength than equal grammage parts from 50-mesh tooling.

Significant process efficiencies and cost reduction: due to its superior fiber retention, and faster forming, HP’s solution saves customers time and money – savings equivalent to avoiding having to discard every eleventh egg tray being produced into whitewater.

High quality personalized parts: HP digitally designed screens resist wrinkles so customers get parts with crisp edges and borders, and highly personalized, legible markings.

New Customers Embracing HP’s Solution Across Industries

Several new customers throughout Europe, the United States and Canada across industries including healthcare and electronics have begun using HP’s tooling solution. This builds on collaboration with existing customers including Fiber Innovation, Pacific Pulp, Pulp Moulded Products, and Western Pulp Products Company as well as partners such as PMD and Veritiv who are working on a variety of new designs.

Vernacare is a global leader of paper moulding products specializing in high quality single-use medical products committed to innovation. The company is looking to improve efficiency gains, accelerate turnaround times, and increase productivity with HP’s unique rapid screen replacement.

“Compared to traditional manufacturing, HP’s solution increases the speed from concept to execution, and has the potential to improve our productivity efficiencies and machine volumes,” said Garry Partington, Research and Development Manager, Vernacare.
Polyco Healthline

Group specializes in protection and hygiene products and services including disposable gloves, workwear and bags. Polyco has used molded pulp for more than two decades and its Thermofiber division develops non-medical molded pulp accessories. The company is working with HP to develop applications that reduce the amount of plastics used in the industry.

Eco Pulp is a Finland-based packaging producer that specializes in technical molded pulp inserts. They are currently using HP’s tooling solution to produce packaging for electronic devices.

“Thanks to HP we are increasing our production efficiencies. The middle screen is saving us a lot of time in the production process, it is light, easy to carry, making the process faster and more sustainable,” said Ari Henttonen, Managing Director, Eco Pulp.

New customers include Eco Pack, Enviropack, ERI Mexico, YFY Jupiter and many others exploring new use cases using HP tools. HP’s own business, one of the largest manufacturers of consumer tech products in the world, is leveraging the solution to help achieve its sustainability goals, including a commitment to eliminate 75% of single use plastic packaging by 2025.

Technology Advancements Unlock New Value for Manufacturers

HP’s Molded Fiber Advanced Tooling Solution leverages proprietary HP innovations in digital manufacturing software and data intelligence along with HP’s industry-leading, industrial 3D printing technology to offer a more efficient, optimized digital design experience, replacing the need for handcrafted screens, CNC machining, and manually drilled form tools.

As a result of Innofibre’s research and work with partners including PMD, HP has quickly advanced its tooling capabilities, developing enhancements to optimize production processes and create more personalized solutions. These innovative advancements demonstrate HP’s commitment to open up entirely new design opportunities enabling projects that would be impossible using traditional methods due to complex geometries and shallow draft angles.

HP AdvancedPro Transfer Tool: a lightweight transfer tool providing an extra digitally designed screen on the transfer side for improved productivity and process efficiency by reducing forming cycle time and moisture content. The tool improves transfer-side smoothness and enables parts with low draft angles as well as custom markings on the transfer side.
HP FlowTec SmartScreen: custom screens algorithmically designed to fine tune slurry flow and improve molding performance for challenging geometries.

“We started to work with HP because my desire was to have a fluid dynamic approach to the tooling used for molded fiber products. I didn’t have sufficient knowledge of this approach and very few people in the Industry do,” said Jalal Kahn, Head of Design Pulp & Paper Products at Polyco Healthline. HP’s FlowTec SmartScreen is a breakthrough tooling innovation thanks to which we can actually have a more predictable slurry behavior resulting in efficiency gains for molders.”

HP at IMFA Conference

HP will present at the virtual IMFA annual conference from April 13-14, delivering a keynote address together with Eco Pulp, Polyco Healthline Group, and Vernacare. HP will also deliver a technical session together with Innofibre and PMD, providing a deep dive into Innofibre’s research and HP’s technology advancements. On April 20, HP will follow up on its sessions at IMFA with a free, in-depth webinar and Q&A session to discuss opportunities to transform molded fiber packaging with its end-to-end solution. Click here for more information and to register.

About HP
HP Inc. creates technology that makes life better for everyone, everywhere. Through our portfolio of personal systems, printers, and 3D printing solutions, we engineer experiences that amaze. More information about HP Inc. is available at hp.com.

www.hp.com/go/newsroom

©Copyright 2020 HP Development Company, L.P. The information contained herein is subject to change without notice. The only warranties for HP products and services are set forth in the express warranty statements accompanying such products and services. Nothing herein should be construed as constituting an additional warranty. HP shall not be liable for technical or editorial errors or omissions contained herein.

______________________

¹ Delivery as quickly as 2 weeks after HP receipt of design file, detailed specs, the tool design quotation approval, purchase order, and receipt of first payment. Shipping time not included.
² Compared to traditional CNC and manual tooling processes as of June, 2020. Based on internal HP analysis and testing including expert interviews and a review of published market reports. 4-6 weeks average fabrication lead time when producing using CNC manufacturing.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/87e22db0-3397-444c-b9ce-85311c92a56a

Michele Guthrie, HP inc.
+1 858 761 8424
[email protected]