Tuesday, May 22, 2018

Malaysian insurers to develop digital platform

Cyber Village (CBV), a unit of Singapore-based tech firm Silverlake Axis, has entered into a contract to develop a digital platform for life insurance and takaful providers in Malaysia.

In a filing to the Singapore Exchange, Silverlake Axis said the Malaysian insurance trade association has given the go-ahead for CBV to create the platform.

Specifically, CBV will work to deliver an industry-wide platform that includes features such as a self-assessment financial planning tool.

In the filing, the company explained that the platform will set the foundation for the association to consequently offer a full-service life insurance and takaful aggregator portal.

In turn, this will empower consumers to compare life insurance and takaful products online and buy directly.

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