Digital & Technology

Malaysian life insurers set for digital collaboration platform

A division of Singapore technology firm Silverlake Axis has won a project to develop an innovative digital collaboration platform for life insurers and takaful insurers in Malaysia.

In the initial phase, the firm, Cyber Village (CBV), will deliver an industry-wide platform which serves as an information gateway to consumers and provides them with self-assessment financial planning tools. 

This digital platform will set the foundation for the Association to subsequently deliver a full service life insurance and takaful aggregator portal which enables consumers to compare life insurance and takaful products online and buy directly. 

This platform can also integrate to new digital insurance platforms and be the source for greater insights into the industry. 

When launched, the portal will create a more competitive market for life insurance products, said Silverlake Axis, and increase empowerment for consumers to make informed decisions through better access to information.