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BNM to finalise Digital Insurers and Takaful Operators framework by H1 2024

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The refinement includes enhancements to provide clarity for emerging and innovative business models, such as embedded insurance and insurance-as-a-service.

BNM received feedback from more than 50 stakeholders on the Digital Insurers and Takaful Operators Framework during the consultation period which ended in April.

The feedback was based on a consultation paper on the exposure draft of the licensing and regulatory framework for DITOs published in November last year. “This aims to encourage wider participation from players in the insurance and takaful value chain that can deliver the intended policy outcomes of the DITO framework.

The exposure draft outlines the proposed framework to facilitate the entry of DITOs in Malaysia that can offer strong value propositions to realise the policy outcomes of inclusion, competition and efficiency.

Source: News Formal (newsformal.com)

 

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