Houston, Texas, Oct 01, 2021 (GLOBE NEWSWIRE) – Majic Wheels, Corp. (OTC Pink: MJWL) (“Majic” or the “Company”), a Delaware corporation positioned as a player in the disruptive fintech and software development industries through acquisitions, announces that it has signed a letter of Intent (âLOIâ) with Bamboo Wellness Holdings Limited.
Bamboo Blockchain and Analytics Competency Center aims to create a holistic healthcare ecosystem that will lead to a data-driven decision-making model. Backed by artificial intelligence and machine learning, the Bamboo ecosystem aims to drastically close the health protection gap and provide insurance for all.
According to a market size, share and trend analysis report from Grand View Research: “The global insurtech market size was valued at USD 2.72 billion in 2020. It is expected to grow at a compound annual growth rate (CAGR) of 48.8% from 2021 to 2028. The growing need for digitalization of IT services insurance should propel the market. growth. The healthcare segment dominated the market and accounted for over 24.0% of global revenue in 2020. The growing demand for digital platforms, which connect exchanges, brokers, providers and insurance operators disease, is expected to fuel demand for the healthcare segment. Life and health insurers are focused on using advanced analytics to better serve and understand their customers. Many health insurance companies are adopting insurtech solutions to streamline claims handling procedures. “
Bamboo’s business model derives its revenue from several product offerings.
- Smart contracts for life and health insurance,
- Smart contracts for agricultural insurance,
- (RE) Profit Commission Sharing Insurance,
- Food traceability,
- Network costs,
- Data information
“We’ve been following Majic’s journey for quite some time now and couldn’t find a company whose values ââand mission were more aligned with ours. Blockchain as a technological infrastructure to create value for users and shareholders is part of our DNA. With this first step to being part of the Majic family, we hope our combined journey will take us further and higher than we ever imagined when we started Bamboo. said Ian Lim Teck Soon, Co-Founder and Executive Chairman of Bamboo Wellness Holdings Limited
“Blockchain is the future and its successful implementation in the insurance industry is arguably the most impressive to date. Insurance can easily be called one of the more technophobic industries. Companies like Bamboo are among the players turning this narrative around. Strategically, this transaction can only advance the company’s project to become a world leader in the field of Fintech, Blockchain and Technology. Said David Chong, CEO of Majic Wheels, Corp.
About Majic Wheels Corp.
Majic Wheels Corp., a Delaware company, intends to position itself as a player in the disruptive fintech and software development industries through acquisitions and mergers. Majic Wheels Corp. is listed and traded on the over-the-counter market under the symbol âMJWLâ.
For more information about the company, visit:
Our profile of over-the-counter markets: https://www.otcmarkets.com/stock/mjwl/overview
Our website is: https://majiccorp.co/
Our Twitter account is: https://twitter.com/MajicCorp
Our Discord: https://discord.gg/apolloassets
About Bamboo Wellness Holdings Limited
Bamboo Blockchain and Analytics Competency Center aims to create a holistic healthcare ecosystem that will lead to a data-driven decision-making model. Supported by artificial intelligence and machine learning, the Bamboo ecosystem will significantly close the health protection gap and bring reassurance to everyone. BAMBOO has a solid base of algorithms based on artificial intelligence (AI) and machine learning (ML) to perform data analysis. Bamboo will provide data visualization and analysis services to its partners such as drug research and manufacturing companies, government. Insurance organizations and companies.
SAFE PORT DECLARATION
This press release contains forward-looking statements which can be identified by words such as “believes”, “expects”, “potential”, “plans”, “suggests”, “could”, “should”, “could “,” Could “,” intend to, “or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from future results implied by these statements. These factors include, but are not limited to, our ability to continue to improve our products and systems to cope with industry changes, our ability to expand our customer base and retain existing customers , our ability to compete effectively in our market segment, the lack of public information about our company, our ability to raise sufficient capital to finance our activities, our operations. ations, our ability to continue as a going concern, and a limited public market for our common shares, among other risks. Many factors are difficult to predict with precision and are generally beyond the control of the business. Forward-looking statements speak only as of the date on which they are made, and we do not undertake to update any forward-looking statements to reflect circumstances or events that occur after the date on which the forward-looking statements are made.
SOURCE: Majic Wheels Corp.
FOR MORE INFORMATION PLEASE CONTACT:
E-mail: [email protected]
$ MJWL – Majic signs letter of intent to acquire majority stake in Bamboo Wellness