The Malaysian Insurance Institute (MII) hosted its inaugural Insurance Innovation Hackathon beginning 31st March 2022 till 10th April 2022 as part of its ongoing efforts to accelerate innovation and adoption of technology within the Malaysian insurance and takaful industry.
The hackathon aims to unleash innovation and catalyze growth of the Malaysian insurance industry in the age of Digital Insurance. Participants will also be able to share their ideas with players within the insurance industry and create unique solutions within the competition period. Judges will be looking for solutions that incorporate the latest advancements in cloud, cybersecurity, fintech for health, embedded insurance, telematics and more, in crowning winners who can produce practical and workable solutions that are much needed by the industry. The solutions created should address the problems raised in Bank Negara Malaysia on Licensing Framework for Digital Insurers and Takaful Operators which aims to improve financial inclusivity, drive competition and enhance efficiency.
DoctorOnCall was represented by team Insurance Innovation winning 1st place and team DOC MVP winning 3rd place respectively out of 200 participants for the MVP Challenge. Team Insurance Innovation showcased artificial intelligence and its applications to increase insurance penetration in the market. The MVP demoed AI facial biometrics, face aging, augmented reality and posture tracking. Team DOC MVP demoed a central health records system, ie. CCRIS and CTOS for health screening records which allows patients to share their good health records to obtain more favourable insurance rates.
Watch the full video to for the event in the links below.