Digital platform ecosystem for insurance investment industry in Malaysia: a possible conceptual solution

Tambi, Muhamad Rezan and Ahmad Dahlan, Abdul Rahman (2023) Digital platform ecosystem for insurance investment industry in Malaysia: a possible conceptual solution. Journal of Information Systems and Digital Technologies, 5 (1). pp. 101-112. E-ISSN 2682-8790

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Abstract

This paper discusses the direction of a possible conceptual Digital Platform Ecosystem in Malaysia, specifically with regards to the Insurance Investment Industry and it is a response to the current situation that clearly opens the door to high risk of losses just because the system is rigid and inconvenient to the customers. In addition, the existing system is weak and has become one of the causes that burdens the customers because they will encounter errors so often while using the system. The system also triggers challenges in the governance between brokers, customers, and reinsurers, and will result in the loss of contributors. Therefore, a lightweight and easy-to-manage digital platform should be introduced for the insurance investment industry in Malaysia in order to deal with the constant errors encountered by customers and for the agents to become more user friendly and relevant, as well as secure. Therefore, this paper identifies the challenges and proposes the possible conceptual Insurance Digital Platform Ecosystem incorporating Integrated Enterprise Risk Management (IERM) to reduce the impact of the high risks identified, including the risk of financial losses caused by clients’ frustrations.

Item Type:	Article (Journal)
Uncontrolled Keywords:	Insurance, Portal, Digital Platform Ecosystem, Enterprise Risk Management
Subjects:	T Technology > T Technology (General) > T55.4 Industrial engineering.Management engineering. > T58.6 Management information systems
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Kulliyyah of Information and Communication Technology > Department of Information System Kulliyyah of Information and Communication Technology > Department of Information System Kulliyyah of Information and Communication Technology Kulliyyah of Information and Communication Technology
Depositing User:	Ts. Abdul Rahman Ahmad Dahlan
Date Deposited:	24 Jul 2023 09:31
Last Modified:	24 Jul 2023 09:32
URI:	http://irep.iium.edu.my/id/eprint/105702

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