ACTOMATE
BNM Digital Insurers and Takaful Operator (DITO) Licensing
Bank Negara Malaysia (BNM) introduced the Digital Insurers and Takaful Operators (DITO) license to drive dynamism and digitalisation within the Malaysian insurance and takaful landscape. These licenses are granted to companies with a meaningful value proposition, innovative business models, and a clear, comprehensive business plan under the DITO regulatory framework.
Companies seeking a DITO license must undergo various preparation and compliance as required by BNM. Our actuarial team at Actomate has extensive experience guiding digital companies through application processes, ensuring regulatory alignment and a seamless approval process.
For more information on the licensing and regulatory framework for DITO, click HERE.
For more information on what we can do for you, click HERE.
product development & pricing
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develop product design and benefits
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customer suitability assessment
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competitor analysis
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prepare product specification
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develop key pricing assumptions
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determine premium or contribution rating factors
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profit testing
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sensitivity analysis
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prepare product documentation for approval & regulatory filing
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review actuarial content in sales illustration & marketing materials
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identify product’s key inherent risks
financial projection & risk management
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business planning
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business plan projection
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financial projection
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financial impact analysis
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assess capital required & capital adequacy according to BNM’S RBC framework
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actuarial appraisal valuation
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independent risk management review
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ITCL determination
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company-wide stress testing
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scenario testing
appointed actuary role
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quarterly valuation
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actuarial related RBC runs
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annual financial conditions report
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stress test report
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recommend surplus distribution to shareholders
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test of completeness and accuracy of database used for actuarial work
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perform overall duties as AA