Tune Protect partners TM, Huawei to host systems on public cloud
By Digital News Asia March 18, 2022
- Enables Tune Protect to re-platform existing system on the cloud
- Hosting of the system will be done on TM’s Cloud α Edge
Tune Protect Malaysia (Tune Protect) claimed to be the first insurer in Malaysia to have received the official approval from Bank Negara Malaysia (BNM) to host its insurance core system on Telekom Malaysia Bhd’s (TM) Cloud α Edge.
In a statement, the company said this was made possible via a collaboration between Tune Protect, TM and Huawei Technologies (Malaysia).
This partnership will enable Tune Protect to re-platform its existing General Insurance System (GIS), an insurance core system, on to the cloud, it added.
According to Tune Protect, the hosting of the system will be done on Cloud α Edge, which is touted to be the only Malaysian-owned hyperscale public cloud that promotes data sovereignty.
This marks a significant milestone as Cloud α Edge meets the standards of BNM’s Risk Management in Technology (RMiT) full guidance requirements checklist, making it the first and only public cloud so far to host an insurance core system in Malaysia, it claimed.
The core system comes with a set of Systems Applications and Products (SAP) that will be completely hosted on Cloud α Edge which also ensures Tune Protect’s business is constantly at the forefront of digital transformation initiatives, it said.
This collaboration between the three parties will also ensure Tune Protect customers receive consistent speeds in user portal experience; more tailored and matching insurance offerings for their requirements; and better insurance premium rates due to infrastructure and intelligence optimisation, the company said.
Works are currently underway for the core insurance system to be deployed in multiple phases commencing July 2022, Tune Protect added.
Prasanta Roy, group chief technology officer of Tune Protect said, “As the first insurer to have received the approval to host the core system on cloud, we are further enhancing our group credentials.
“Cloud is the centerpiece of our digital transformation that will enable us to achieve speed-to-market and introduce more innovative products and services for our customers,” he said.
Cloud α Edge plays an important role as a digital platform enabler and the company said it will transform Tune Protect’s existing business capabilities and services into a highly scalable, and agile cloud native open-source platform to unlock its existing capabilities into unlimited digital value.
This transformation is crucial to support today’s fast-paced and demanding business operations and in ensuring the company consistently stays competitive in the market, Tune Protect said.
Aside from providing cloud and digital services, Huawei and TM are also rendering advisory and consultation services in terms of compliance and technical requirements that align to the guidance provided by BNM.
Meanwhile, Imri Mokhtar, (pic) group chief executive officer, of TM said the company fully understands the importance for FSI customers, including insurers such as Tune Protect, to have highly secured digital infrastructure while they continue accelerating their digital adoption.
“Given the rising volume of digital transactions and our commitment to excellent customer experience, we must ensure that the infrastructure supporting our partner is resilient, scalable and protected on all fronts.
“With TM Cloud α Edge being fully compliant to BNM’s RMiT, FSI players can reap the benefit of scalability and agility to future-proof their business, while simultaneously protecting customer data, at a superior price advantage,” he said.
Huawei Malaysia’s vice president of the Cloud and AI Business Group, Lim Chee Siong said, “Huawei will continue to innovate and team up with our partners to dive into digital and build the cloud foundation for an intelligent world. Cloud is just the beginning. We view it as a runway to transport businesses to even greater heights.”
TM is the only local player with its own core data center and cloud infrastructure with full data residency, locality and sovereignty, Tune Protect claimed.
This means the data in the cloud is stored right here in Malaysia instead of abroad, providing a solution to the challenge of data sovereignty.
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