LIAM Strategic Planning Meeting
Following the closed-door session chaired by YBhg Dato’ Muhammad bin Ibrahim, Deputy Governor of Bank Negara Malaysia at the 5th Malaysia Insurance Summit on 7 October 2015, the insurance and Takaful industry have been requested to study a number of initiatives and put forward a proposal to Bank Negara Malaysia.
In relation to this, LIAM had organised a Strategic Planning Meeting to discuss on a topic, “Digital Technology in the Insurance Industry” for about 35 industry’s captains and senior management officials of LIAM, PIAM and MTA from 10 December – 12 December 2015 at the Eastern & Oriental Hotel, Penang. The meeting was also attended by five officials from Bank Negara Malaysia headed by Director of Financial Sector Development, En Aznan bin Abd Aziz.
A brainstorming session was conducted on 11 December 2015 to discuss how Bank Negara Malaysia and insurance companies could develop enabling measures to support a strong and vibrant digital environment for the insurance and Takaful industry. The session was divided into two segments i.e. presentation by speakers from 9am to 12.30pm and break-out group discussion from 3pm to 5pm.
Two professional speakers from Towers Watson and IDC Asia/ Pacific were invited to share their experiences and expertise with the participants. Mr Nicholas Chen,
Head of Digital Solutions (Asiapac), Towers Watson shared a topic on “Creating a Competitive Advantage through Digital Innovations”. Mr Jon Krause, Vice President (SE Asia) of Gartner Executive Programs talked on “Digital Business Models That Rock the Insurance Industry” and had also moderated the break-out group discussion in the afternoon.
LIAM’s President, Mr Toi See Jong in his Welcome Remarks expressed his appreciation for the presence of BNM’s officials together with industry’s captains working handin-hand to embark on a digital transformation to enable the industry to stay relevant and prepare ourselves to face upcoming challenges and threat in the industry.
A Group photo of the delegates at the LIAM’s Strategic Planning Meeting
LIAM’s President, Mr Toi See Jong addressing the delegates at the brainstorming session at the Eastern & Oriental Hotel, Penang