The study, based on more than 63,000 insureds, found that traditional underwriting metrics do not fully capture the complexity of an organisation’s digital footprint.
The regulator found gaps in how insurers account for future losses and consumer protection, with further industry discussions scheduled in the fourth quarter.
Regulatory reforms, increasing insurance penetration and demand for digital and catastrophe coverage are expected to drive growth in Malaysia's non-life insurance market.
The partnership is expected to underpin AXA Hong Kong and Macau's next phase of AI adoption, spanning underwriting, claims processing, distribution and marketing.
