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BNM Digital Insurers and Takaful Operator (DITO) Licensing
Bank Negara Malaysia (BNM) introduced the Digital Insurers and Takaful Operators (DITO) license to drive dynamism and digitalisation within the Malaysian insurance and takaful landscape. These licenses are granted to companies with a meaningful value proposition, innovative business models, and a clear, comprehensive business plan under the DITO regulatory framework.
Companies seeking a DITO license must undergo various preparation and compliance as required by BNM. Our actuarial team at Actomate has extensive experience guiding digital companies through application processes, ensuring regulatory alignment and a seamless approval process.
For more information on the licensing and regulatory framework for DITO, click HERE.
For more information on what we can do for you, click HERE.
product development & pricing
develop product design and benefits
customer suitability assessment
competitor analysis
prepare product specification
develop key pricing assumptions
determine premium or contribution rating factors
profit testing
sensitivity analysis
prepare product documentation for approval & regulatory filing
review actuarial content in sales illustration & marketing materials
identify product’s key inherent risks
financial projection & risk management
business planning
business plan projection
financial projection
financial impact analysis
assess capital required & capital adequacy according to BNM’s RBC framework
actuarial appraisal valuation
independent risk management review
ITCL determination
company-wide stress testing
scenario testing
appointed actuary role
quarterly valuation
actuarial related RBC runs
annual financial conditions report
stress test report
recommend surplus distribution to shareholders
test of completeness and accuracy of database used for actuarial work
perform overall duties as Appointed Actuary
