Fusionex

KUALA LUMPUR, Malaysia–(BUSINESS WIRE)–Fusionex, a multi-award-winning, leading data technology provider specializing in Analytics, Big Data, Machine Learning, and Artificial Intelligence (AI), has commenced a digital insurance initiative for leading Takaful insurance company STMB. Takaful Malaysia’s online sales portal “Click for Cover” was launched at a grand ceremony and signalled the digital transformation of their business processes with Fusionex technology. The launch ceremony was officiated by Datuk Seri Johari Abdul Ghani, Finance Minister II, and marked the beginning of a seamless customer experience in purchasing and renewing insurance policies online via data-centric approach.
Leveraging Fusionex technology, Takaful’s digital insurance initiative is able to help customers process their applications, issue quotations, perform underwriting, send cover notes and e-documents via a customer-focussed and seamless online platform. The platform focuses on providing the best service to its customers, with the ability to understand each customer in a more personalized way. This is in line with Takaful’s strategy of reaching out to its prospects and customers anywhere, anytime and anyhow, while having the ability to introduce newer products and targeted features that their customers will find more useful and relevant to their specific needs.
The launch also witnessed the signing of a memorandum of agreement between Fusionex and Takaful, as well as signings between Takaful and Remark, a digital marketing company. Collaboration agreements for online distribution with Lembaga Tabung Haji (LTH) and Bank Islam (BIMB) were also signed to introduce online Takaful products to depositors of LTH and customers of BIMB.
Fusionex Group CEO Dato’ Seri Ivan Teh said, “Innovation needs to be at the core of businesses, as this differentiates the leaders versus the followers. Today, we are pleased to witness Takaful Malaysia making great strides in this direction. Fusionex is delighted to be a key partner in Takaful Malaysia’s exciting digital transformation journey, and we are confident that this initial success will lead to many more success stories with Takaful Malaysia.”

Fusionex
Takaful Malaysia Group CEO Dato’ Sri Mohamed Hassan Kamil said, “Today’s launch of our digital strategy plan signifies our commitment towards revolutionizing the way we will grow our business by digitally transforming our sales and operations. By embracing digital tools and technology to offer up differentiated product offerings and services, we will delight our customers with a better user experience, enhanced protection products and high quality service. Our customers will benefit from an integrated multi-channel experience and this is part of our ongoing efforts to stay ahead of the curve.”
Datuk Seri Johari Abdul Ghani, Finance Minister II stated, “Today’s launch of Takaful Malaysia’s digital strategy is very much in line with the overall digital strategy outlined by the Government in growing the digital economy.”
The “Click for Cover” portal, which is powered by Fusionex technology, provides a data-centric, easy-to-use interface for customers to access the company’s products online with e-payment facilities and real-time underwriting capabilities. “Click for Cover” has the first fully integrated medical underwriting engine online in Malaysia where rating decisions will be generated online. Currently, the portal offers Motor, Personal Accident (PA) and Medical products. More products such as Term Life, Critical Illness and Travel PA Takaful will be made available later this year.

Dato’ Sri Hassan Kamil said, “Our strategic partnership with Fusionex and Remark is in line with our business goals to make our digital strategy the key driver of our innovation efforts, thereby boosting our competitiveness and powering future growth.”
Dato’ Seri Ivan Teh commented, “In this data-driven age, embracing data technology is no longer a luxury, but rather a must if one wants to remain relevant and competitive. The ultimate goal of digital transformation is great user experience; hence it’s crucial that we work with our customers to focus on the consumer and the user journey, leveraging powerful technology. We believe that it is only through this lens and a user-centric approach will businesses be able to thrive and scale to greater heights.” https://www.linkedin.com/company/fusionex-international

PETALING JAYA: When Ng Keng Hooi was appointed Hong Kong-based AIA Group Ltd’s chief executive officer, he made history by becoming the first Malaysian to helm a global financial services firm.

His appointment brings to mind the hundreds of thousands of Malaysians working abroad, of which according to the World Bank in a report from 2011, a third have some form of tertiary education.

The total number of those born in Malaysia but who have moved overseas over the decades has risen to well above 1 million. Some have become citizens of other countries while others continue to hold on to their Malaysian passports.

Because of their skills and knowledge base, Malaysia-born migrants usually can be found in the professions and some have even made it as entrepreneurs, founding companies listed in foreign bourses.

Malaysian entrepreneurs can be found all over the world, one of them being Datuk Seri Ivan Teh, the founder of London-listed Fusionex International plc, which specializes in big data and analytics.

He has businesses around the world and has worked in the United States and Britain. Teh firmly believes that the grass can be green anywhere as long as the business landscape and supporting infrastructure “is well-taken care off”.

He said entrepreneurs from anywhere who were willing to work hard and learn, especially if they set up their businesses in other countries, can make it.

“Main thing is willing to learn, and learn quickly, willing to take chances that even if they fall, they pick themselves up,” Ivan Teh said.

He does see an increasing trend of Malaysian entrepreneurs returning to the country, and that has also been matched by fewer Malaysians moving abroad compared to five years ago. The Asean growth story plays a role, with returning Malaysians hoping to clinch opportunities in Malaysia’s Asean hub role.

But Teh admits that younger Malaysians may find the work culture more attractive in the developed economies. He said younger Malaysians might find themselves disconnected from the workplace where traditional Asian values based on seniority still prevail.

Chan Jiaheng and Adelene Teh, property developers who both studied in Melbourne, Australia, also said that its how people handle opportunities that make the grass greener.

Ivan Teh

“I think it’s a misconception that the grass is greener on the other side, there are pros and cons of being over there or here, its really how you handle the opportunities and what you do with them. That’s what we believe in,” Adelene said.

For both, as with many Malaysians who studied abroad, it was a natural transition finding an opportunity in Australia.

They said that they would certainly explore opportunities in Malaysia if it came knocking. “Malaysia is a market we’re comfortable with because we grew up here and so if we’ve the resources and the investors, then we’ll jump into it,” Chan said.

Datuk Seri Cheah Cheng Hye, Hong Kong-based Value Partners Group Ltd chairman and co-chief investment officer, firmly believes that Malaysia has one of the region’s best talent pools.

“Malaysians are some of the best talent I have come across, we hire them based on a commercial decision because they’re educated and bright, and very flexible and resilient,” he said.

Cheah, a former Star journalist, left Malaysia in the 1970s to become a journalist in Hong Kong before helping to found one of Asia’s largest independent asset management firms.

Although he left the country decades ago, Cheah has been looking for opportunities back in Malaysia. Value Partners opened an office in Singapore two years ago.

“Young people in my time had few career opportunities so we had to move overseas if we want to make it,” he noted.

https://www.thestar.com.my/business/business-news/2017/06/13/diaspora-malaysians-see-opportunities-everywhere-including-in-malaysia/