OPENMOVE AI Bhd (formerly Rexit Bhd) has inked a subscription agreement with Thai Paiboon Insurance Public Co Ltd (TPB) for the deployment of its proprietary Rexit Compensation Suite, thus marking a significant milestone in the group’s regional expansion strategy.
The deal sealed through its wholly owned subsidiary Rexit International Sdn Bhd represents OpenMove AI’s first successful market entry into Thailand while underscoring its growing presence in Southeast Asia’s rapidly evolving digital insurance ecosystem.
Partnering with TPB – a long-established Thai insurer with over 97 years of experience which is renowned for its strong commitment to stability, integrity and professional excellence – is expected to further reinforcing confidence in OpenMove AI delivering innovative and reliable insurance solutions to the local market.
“Our collaboration with OpenMove AI marks an important step in strengthening our operational capabilities and enhancing our overall business efficiency,” commented TPB’s managing director Eugene Foong Jun Seong.
“The Rexit Compensation Suite provides the scalability and precision we require to manage our growing portfolio efficiently while enhancing transparency across our distribution network.”
OpenMove AI’s proprietary Rexit Compensation Suite is a comprehensive digital platform designed to streamline and automate end-to-end compensation management across complex distribution networks.
The solution enables real-time compensation computation, multi-tier agent hierarchy management and configurable compensation structures tailored to diverse product lines.
Meanwhile, OpenMove AI’s CEO Gallen Lee Choon Teng expressed optimism that the group’s partnership with TPB “will pave the way for our continued growth in Thailand and across Southeast Asia”.
“Thailand’s general (non-life) insurance market continues to present strong growth opportunities with premiums projected to reach approximately 300 bil baht (RM39 bil) in 2026, hence contributing to a total insurance market exceeding 1 tril baht (RM130 bil),” he envisages.
“Growth is primarily driven by the motor insurance segment which is expected to reach US$5.32 bil (RM25 bil) in 2026 alongside rising demand for health coverage, supported by a 5.7% compound annual growth rate (CAGR).”
Added Lee citing research from Mordor Intelligence: ‘This robust market landscape reinforces the strategic timing of OpenMove AI’s expansion into Thailand.”
In conjunction with the signing of the group’s strategic compensation services agreement, OpenMove AI also announced that it has partnered with Dataone Asia (Thailand) Co Ltd as the group’s local distribution and support partner in Thailand.
Dataone Asia is a leading end-to-end ICT solutions provider and a subsidiary of SVOA Public Co Ltd, a publicly-listed digital solutions conglomerate.
As part of its partnership with OpenMove AI, Dataone will provide frontline support services to TPB by ensuring seamless system implementation, operational continuity and responsive customer support.
At the close of today’s mid-day (April 28) trading break, OpenMove AI was unchanged at 55,5 sen with 10,100 shares traded, thus valuing the company at RM105 mil. – April 28, 2026
