ACTOMATE
BNM FinTech Regulatory Sandbox
Bank Negara Malaysia’s (BNM) FinTech Regulatory Sandbox provides an opportunity for innovative financial services with genuine value proposition to operate with regulatory flexibilities. To gain approval, companies must perform various preparation work as required by BNM.
Our actuarial team at Actomate has extensive experience assisting digital companies through every stage of the sandbox process.
We structure our support into two key phases: preparing for sandbox entry and ongoing compliance during sandbox operations. Our tailored approach ensures alignment with BNM’s regulatory expectations, helping you navigate challenges efficiently.
For more information, click HERE.
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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 AA
PRACTICE LEADER
Nicholas Yeo
FIA C. Act FASM FSA FSAS CIA FASHK
Founder & Actuary
Nicholas founded Actomate in 2015, a leading actuarial firm in Asia. He is an actuary with exceptional business acumen and a global perspective. His clients and his organization benefit from his strong grasp of the strategic, operational, governance, and risk management aspects of the business.
Nicholas has developed various technologies and software applications, including IBNR Robot, ReACC Robot, PET Robot, LRC Robot, LIC Robot, PAA Robot, and Sallesillus Robot. Nicholas also has significant experience in captive insurance, offshore insurance, robotic process automation, artificial intelligence, and data analytics.
Nicholas has 20 years of experience in actuarial work, including life insurance, family takaful, general insurance, general takaful, employee benefits, pensions, social security, medical insurance, reinsurance, and Insurtech startups. Nicholas held appointed actuary and signing actuary roles in various jurisdictions across Asia.
Nicholas is a Fellow of the Institute and Faculty of Actuaries (UK) and a Fellow of the Society of Actuaries (US). He is a past Council Member of the Society of Actuaries’ Entrepreneurial & Innovation Section. He is also a past Chairperson of the Professional Development Committee and Events Committee of the Actuarial Society of Malaysia. Nicholas graduated from Bayes Business School with First Class Honours in BSc Actuarial Science. He is also a Certified Internal Auditor from The Institute of Internal Auditors.