KUALA LUMPUR: Censof Holdings Bhd today announced that its all-digital platform for insurance and takaful, insureKU, has obtained Bank Negara Malaysia (BNM) approval to start operations.
Set to launch officially later this year, insureKU has received BNM approval to join the national Financial Technology Regulatory Sandbox.
Developed by Censof Maal Sdn Bhd, a subsidiary of Censof, insureKU has been in the works for the past two years.
It said it is the first platform in Malaysia to integrate insurance and takaful solutions from start to finish.
insureKU's offerings include products in the life, general, and takaful insurance categories.
Initially launched in October 2016, BNM's Financial Technology Regulatory Sandbox framework was designed to foster a regulatory environment conducive to fintech deployment, encouraging meaningful innovation in the financial sector.