Malaysia’s First Insurance Core System To Be Hosted On Public Cloud
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With technology advancing at its rapid pace, digital transformation has become a priority for many organisations, regardless of industry. Digital transformation is the process of using digital technologies to revolutionise existing, as well as non-digital business processes and services to create new ones in order to meet the market’s evolving needs. 

Many businesses seek digital transformation for a number of reasons. Among them, having access to more in-depth data may equate to understanding customer insights better and, thus, having the ability to create a strategy that connects with them better. On top of that, there is also room for cost reduction as a result of time savings in operational processes.

Strategic partnerships may also be a strategy to employ when undergoing a digital transformation, as it allows different businesses to leverage and learn from each other in order to better meet any challenges the future may hold.

Tune Protect, Huawei Malaysia & TM Partner Up To Shift Existing GIS  

In March, Tune Protect, Huawei Malaysia, and TM announced an exciting new collaboration to re-platform Tune Protect’s existing General Insurance System (GIS) on Cloud via Huawei Malaysia and TM’s Cloud infrastructure, Cloud Alpha Edge. This significant shift signifies that Tune Protect is the first insurer in Malaysia to host its core insurance system on Cloud.

As part of the Cloud First strategy, the core system includes a collection of SAP HANA and SAP apps that will be comprehensively housed in TM Cloud Alpha Edge with full landing dependability and confidence.

According to Muhammad Ghadaffi Bin Mohd Tairobi, TM ONE’s Vertical Director of Banking & Finance Sales, “Being a customer-centric organisation, TM has an interest in accelerating the customer’s digital transformation journey; not limited to just cloud adoption, but also extending to providing Digital Services, driving customer product innovations, speed-to-market, and offering the best experience to the clients through an innovative solution.”

Tune Protect, on the other hand, always had Cloud as the centrepiece of the digital transformation. Prasanta Roy, Group Chief Technology Officer of Tune Protect shares that having the SAP insurance core platform on Cloud helps to fast-track innovation in their products and services, achieve speed-to-market, and provide differentiation in service to their customers. “Being the first insurer is a mere coincidence, but we are definitely on the right track to set up the right foundation for technology transformation,” he adds.

Cloud Alpha Edge: The Only Malaysian-owned Hyperscaler Public Cloud

Besides being a product of two large scale companies, Cloud Alpha Edge has an array of unique distinctions to its name. To date, it is the only Malaysian-owned Hyperscaler Public Cloud that actively advocates data sovereignty.

TM is also the only local player with its own core data centre and cloud infrastructure, as well as complete data residency, location, and sovereignty. This infrastructure is strengthened by a partnership with Huawei Malaysia through Cloud, AI, and advanced cybersecurity processes and technologies, putting it on pace to become the only Malaysian-owned end-to-end Cloud AI infrastructure service provider. 

Personal Data Kept Secure And Locally

With the rise of Insurtechs across the globe it is quite evident that insurers will partner with various players in this space to bring in differentiation. Taking a closer look on data privacy, data residency and PDPA has to be taken into account. Tune Protect’s risk, governance/compliance and technology team worked together on all these aspects carefully while considering various public and private cloud options available within and outside of Malaysia. TM Cloud alpha Edge came closest to meeting this need as the cloud data centres are based in Malaysia and customers are assured that their data remain preserved with the highest data sovereignty and confidentiality, as shared by Prasanta.

This also implies that data on the Cloud is stored in Malaysia rather than overseas, addressing the issue of data sovereignty. “They (Huawei Malaysia and TM) are the right partner for Tune Protect based on all the considerations such as availability zones, SAP partnership with TM, and support availability around SAP from Cloud service provider,” explained Prasanta.

Created For Users To Enjoy An Overall Better Experience

The working together between Tune Protect, Huawei Cloud, and TM seek to improve a number of things. For one, Tune Protect looks to support improvements in the area of speed-to-market, leveraging the agility and scalability of cloud services whilst also accommodating to the spike and decline of the market. In addition to that, enhanced customer experiences are also something they look forward to through improved IT productivity and a seamless user experience.

“As technology progresses and customers demand for more personalisation, it is the right time for us to build the new SAP core system on Cloud to collaborate with other ecosystem partners to deliver a personalised experience for our customers in terms of product and claims,” continues Prasanta. 

Upskilling Employees For Future Demands

Not only will this partnership benefit existing and future users of Tune Protect, but the re-platforming also benefits company employees. With the presence of Cloud services like “racking and stacking” which can be completed by the Huawei or TM team, this would free up the time of their internal technology team. 

It’s only realistic for this transition to face its own set of unique challenges, such as converting the legacy on-premises software to Cloud-native. In preparation for any transitional friction the team may face, Tune Protect has lined up a mitigation plan that includes various Cloud certifications, online training, and on-the-job training for the respective team members to ensure a smooth and seamless process. 

Prasanta also shared that the Infrastructure and Security teams will be upskilled, so they are able to manage hybrid data centres, consisting of both on-premise and Cloud.

A Brighter Prospect For Malaysians & The BFSI Industry

Migrating the critical systems to Cloud where on-premise hardware is nearing expiry would be next for Tune Protect, he adds. Consumers can look forward to new services such as health tech and other innovative solutions from Cloud that would enhance customer-centricity and experience as they aspire to grow more digital partnerships in the near future, in alignment with the overall Group’s business trajectory.  

Huawei Malaysia believes that this collaboration is a strategic move that encourages data sovereignty in Malaysia, especially as no other public cloud service providers currently offer this, as mentioned by Lim Chee Siong, Vice President of the Cloud Business Unit at Huawei Malaysia. It marks a major breakthrough in FSI digitisation in Malaysia and Huawei Cloud also hopes they are able to help accelerate digital transformation in banks and insurance companies across the country.

***

Watch the exclusive interview with Roy Prasanta, the Group Chief Technology Officer of Tune Protect, and Billy Moo, the Senior Solution Architect of Huawei Cloud Malaysia, where we discuss what it means to be the first insurance core system hosted on Malaysia’s public cloud.

What Does The First Cloud-Based Insurance In Malaysia Look Like?

Strategic partnerships can prove to be extremely valuable when undergoing digital transformation. In this exclusive interview, we discuss the exciting collaboration between Tune Protect, Huawei Cloud Malaysia, and TM with Roy Prasanta, the Group Chief Technology Officer of Tune Protect, and Billy Moo, the Senior Solution Architect of Huawei Cloud Malaysia. Join us as we talk about what it means to be the first insurance core system hosted on Malaysia's public cloud.

Posted by RinggitPlus on Tuesday, June 14, 2022
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