The institute said insurers need better data access, stronger overseas risk controls and reforms to subsidiary rules as domestic market pressures intensify.
A larger contribution from non-par savings products, combined with strong protection growth, helped Canara HSBC Life deliver stronger profitability in Q1 FY2027.
He takes up the post on 1 September, leading the rollout of AI initiatives across the region and building the data platforms and governance needed to support their adoption.
More than 80% of insurers have already met OJK's 2026 requirements, but experts say capital alone will not fix weak fundamentals as tougher 2028 rules loom.
