Licence framework a boon for insurance technology

In a joint statement, Deloitte Malaysia financial service regulatory risk leader, Justin Ong (pic) and insurance risk leader Saiful Adli Aziz said Ditos would encourage the integration of artificial intelligence, blockchain, the Internet of things and big data management.

KUALA LUMPUR: Bank Negara’s discussion paper on outlining a proposed framework for licensing new digital insurers and takaful operators (Ditos) is paving the way for the development of the insurance technology sector in the country, according to Deloitte Malaysia.

In a joint statement, Deloitte Malaysia financial service regulatory risk leader, Justin Ong (pic) and insurance risk leader Saiful Adli Aziz said Ditos would encourage the integration of artificial intelligence, blockchain, the Internet of things and big data management.