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(Alliance News) - Symphony International Holdings Ltd on Wednesday said it has invested in MAVI Holding Pte Ltd, an Asia-Pacific-focused service and solution provider for the insurance and automotive industries.
Symphony International is an Asia-focused investment company focusing on healthcare, hospitality, lifestyle, logistics and education sectors.
It said the parent company MAVI includes Biometric Asia with subsidiaries in India and Singapore and Mavi Automotive with footprints in India and Thailand.
Symphony International said the capital investment will go towards setting up the infrastructure for customer fulfilment, achieving operational efficiency, creating digital assets and driving the growth of both Biometric Asia and MAVI Automotive.
Biometric Asia focuses on disability and ageing solutions, including protecting income and societal inclusion alongside developing care programmes and lifestyle services. It partners with insurers across Asia.
MAVI Automotive provides after-sales and customer experience programmes for automotive original equipment manufacturers.
"With this new partnership, we are delighted to increase our participation in the new consumer growth story in India, Singapore and Thailand through MAVI's varied tech-enabled consumer offerings, with care and service at the heart of the brand," said Anil Thadani, chair of Symphony International's manager.
"Vivek Burman, MAVI co-founder and managing director, added: "Both the insurance and automotive services are at an unique stage of growth and shifting consumer perspectives, and our goal is to create new products and services to help our clients grow and attract a critical market share.
"Our current product offerings are a result of the changing lifestyle of consumers and in creating new demands in both the healthcare as well as the automotive sectors."
Shares in Symphony International were down 2.1% to USD0.42 each in London on Wednesday afternoon.
By Greg Rosenvinge, Alliance News reporter
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