KUALA LUMPUR, Malaysia–(BUSINESS WIRE)–Fusionex, a multi-award-winning, leading data technology provider specializing in Analytics, Big Data, Machine Learning, and Artificial Intelligence (AI), has commenced a digital insurance initiative for leading Takaful insurance company STMB. Takaful Malaysia’s online sales portal “Click for Cover” was launched at a grand ceremony and signalled the digital transformation of their business processes with Fusionex technology. The launch ceremony was officiated by Datuk Seri Johari Abdul Ghani, Finance Minister II, and marked the beginning of a seamless customer experience in purchasing and renewing insurance policies online via data-centric approach.
Leveraging Fusionex technology, Takaful’s digital insurance initiative is able to help customers process their applications, issue quotations, perform underwriting, send cover notes and e-documents via a customer-focussed and seamless online platform. The platform focuses on providing the best service to its customers, with the ability to understand each customer in a more personalized way. This is in line with Takaful’s strategy of reaching out to its prospects and customers anywhere, anytime and anyhow, while having the ability to introduce newer products and targeted features that their customers will find more useful and relevant to their specific needs.
The launch also witnessed the signing of a memorandum of agreement between Fusionex and Takaful, as well as signings between Takaful and Remark, a digital marketing company.

Fusionex

Fusionex

Collaboration agreements for online distribution with Lembaga Tabung Haji (LTH) and Bank Islam (BIMB) were also signed to introduce online Takaful products to depositors of LTH and customers of BIMB.
Fusionex Group CEO Dato’ Seri Ivan Teh said, “Innovation needs to be at the core of businesses, as this differentiates the leaders versus the followers. Today, we are pleased to witness Takaful Malaysia making great strides in this direction. Fusionex is delighted to be a key partner in Takaful Malaysia’s exciting digital transformation journey, and we are confident that this initial success will lead to many more success stories with Takaful Malaysia.”

Takaful Malaysia Group CEO Dato’ Sri Mohamed Hassan Kamil said, “Today’s launch of our digital strategy plan signifies our commitment towards revolutionizing the way we will grow our business by digitally transforming our sales and operations. By embracing digital tools and technology to offer up differentiated product offerings and services, we will delight our customers with a better user experience, enhanced protection products and high quality service. Our customers will benefit from an integrated multi-channel experience and this is part of our ongoing efforts to stay ahead of the curve.”
Datuk Seri Johari Abdul Ghani, Finance Minister II stated, “Today’s launch of Takaful Malaysia’s digital strategy is very much in line with the overall digital strategy outlined by the Government in growing the digital economy.”

The “Click for Cover” portal, which is powered by Fusionex technology, provides a data-centric, easy-to-use interface for customers to access the company’s products online with e-payment facilities and real-time underwriting capabilities. “Click for Cover” has the first fully integrated medical underwriting engine online in Malaysia where rating decisions will be generated online. Currently, the portal offers Motor, Personal Accident (PA) and Medical products. More products such as Term Life, Critical Illness and Travel PA Takaful will be made available later this year.
Dato’ Sri Hassan Kamil said, “Our strategic partnership with Fusionex and Remark is in line with our business goals to make our digital strategy the key driver of our innovation efforts, thereby boosting our competitiveness and powering future growth.”
Dato’ Seri Ivan Teh commented, “In this data-driven age, embracing data technology is no longer a luxury, but rather a must if one wants to remain relevant and competitive. The ultimate goal of digital transformation is great user experience; hence it’s crucial that we work with our customers to focus on the consumer and the user journey, leveraging powerful technology. We believe that it is only through this lens and a user-centric approach will businesses be able to thrive and scale to greater heights.” https://mystarjob.com/job/company.aspx?eid=20438

KUALA LUMPUR: Data technology provider Fusionex International is targeting over 10,000 local small medium enterprises (SMEs) to adopt on its e-store platform, Fusionex’s FOR YOU, in the first 12-month of its introduction.

Fusionex Founder and group chief executive officer Datuk Seri Ivan Teh said the consolidated marketplace and online platform allows seamless connectivity between merchants and customers.

Depending on the required features and size of business, customers can opt for monthly fee packages starting from as low as RM50.

“The Fusionex FOR YOU platform features online and e-commerce capability to monitor business transactions and market their products backed by our vast accessible audiences across all sectors such as financial services, trade, manufacturing and retail globally,” he told NST Business in an interview recently.

Teh said SMEs can also take advantage on the company’s digital marketing platform that comes with the ‘FOR YOU’ package.

“This online and mobile commerce solution makes it simple for merchants to kick start selling their products and services within 24 hours of registering with FOR YOU.

“This technology infrastructure enables SMEs to deliver superior online shopping experience to their customers as it is equipped with a user-friendly interface to suit the needs of all merchants and customers,” he added.

Fusionex specialises in analytics, big data, machine learning and artificial intelligence (AI), facilitating companies with technology-driven as well as data-driven platforms and information.

Teh said ‘FOR YOU’ has an entry-level option for SMEs to embrace technology-driven business operations, which not only help them scale up their domestic operations but also to widen up geographical and demographical business opportunities.

“We offer affordable rate and a free-trial period for selected services and businesses. We want to energise SME businesses’ ecosystem and ensure growth in their sales momentum,” he said.

Fusionex Founder

Fusionex Founder

Teh pointed out the technology is capable of helping businesses’ evaluate its weaknesses and strengthen it in a targeted market, which could boost up its business operation.

“We will help SMEs to embrace this digital transformational journey, optimising their brand presence via social media and through digital marketing channel as well as other e-commerce platform,” he said.

He said Fusionex is focused on business innovation leveraging on its vast big data analytics, artificial intelligence and blockchain capabilities that can help SMEs revolutionise business operations by making it more efficient and cost-effective.

“Our system through a long-term operation provides SME businesses runway to increase their revenue. SMEs generally want digital transformation to stay abreast, and this is one way that we can help to accelerate their businesses growth.

“Their feedback has been extremely positive, but some need more justification in terms of return on investment and skill-sets that are required for them to learn about this new technology,” he said.

Teh said the company expects younger participation, including startup companies, as it would be easier for this age group to adopt and adjust themselves in digital transformation.

“About 85 per cent of the country’s population aged below 60, while the remaining 15 per cent falls under the experienced group. This is a good transitional phase for the country’s business ecosystem based on the mixed population groups,” he said.

Teh said SMEs need to learn new technology and upgrade them with the right competitiveness as well as digitise its operations to maximise its productivity and sustainable business continuity.

Previously listed on London Stock Exchange, Teh said Fusionex may explore the possibility of listing the company back again.

However, he said it was still premature for the company announce its listing bourse destination.

“We would prefer to keep our options open. There are good prospects in the United Stated, Europe and Asia Pacific,” he said. http://www.dailyexpress.com.my/news.cfm?NewsID=125412