KUALA LUMPUR (March 18): Tune Protect Malaysia has become the first insurer in Malaysia to receive the official approval from Bank Negara Malaysia (BNM) to host its insurance core system on Telekom Malaysia Bhd’s (TM) Cloud α Edge.

This was made possible via a collaboration between Tune Protect, TM and Huawei Technologies (Malaysia) Sdn Bhd, enabling Tune Protect to re-platform its existing GIS (General Insurance System), an insurance core system, on to Cloud.

“The hosting of the system will be done on Cloud α Edge — the only Malaysian-owned Hyperscaler Public Cloud that promotes data sovereignty.

“This marks a significant milestone as Cloud α Edge meets the standards of BNM’s Risk Management in Technology (RMiT) full guidance requirements checklist, making it the first and only Public Cloud so far to host an insurance core system in Malaysia,” the three parties said in a joint statement.

The core system comes with a set of Systems Applications and Products (SAP) that will be completely hosted on Cloud α Edge which also ensure that Tune Protect’s business is constantly at the forefront of digital transformation initiatives.

“This collaboration will ensure Tune Protect customers receive consistent speeds in user portal experience; more tailored and matching insurance offerings for their requirements; and better insurance premium rates due to infrastructure and intelligence optimisation,” the companies said.

Work is currently underway for the core insurance system to be deployed in multiple phases commencing July 2022.