Revamping the insurance landscape

It will definitely be interesting to see what DITOs can do for the Malaysian market when the time comes. As of now, anticipation and excitement are building. - Photo: Freepik

DIGITAL insurers and takaful operators (DITOs) are one step closer to becoming a reality after Bank Negara Malaysia issued a policy document early last month laying out the licensing and regulatory requirements.

The central bank said that DITOs will observe a foundational phase for between three and seven years to “demonstrate their viability and operational soundness.”