(From left to right): Mr Toi See Jong, Chief Executive Officer, TMLIM, Prof Ir Dr Lee Sze Wei, President of TAR UC and Mr Chan Eng Lim, Chief Executive Officer, DSB, holding the signed TCA.

TAR UC together with DynaFront Systems Berhad (‘DSB’) and Tokio Marine Life Insurance Malaysia Berhad (‘TMLIM’) entered into a tripartite technical collaboration by signing and exchanging the Technical Collaboration Agreement (‘TCA’) on 1 December 2021 to mark the start of a joint collaboration in artificial intelligence and data analytics to harness the power of these disciplines to generate useful solutions and applications in the field of insurance.

DynaFront Systems Berhad is a software development and consulting company specialising in cutting-edge IT solutions customised for regional insurance industries, including that of software-as-a-service as well as cloud managed services. Tokio Marine Life Insurance Malaysia Berhad on the other hand, is in the business of selling life insurance.

TARUC, DSB and TMLIM tripartite technical collaboration revolves around the applications of artificial intelligence (‘AI’) and big data analytics (‘BDA’) in insurtech, which is referring to the field in which technological innovations are applied to optimise the operations of general, life, health and Islamic insurance.

The parties will foster an academia-industry collaboration in AI and BDA to generate research activities and technology solutions specific to the insurance industries. Through its Centre for Computational Intelligence and Centre for Data Science and Analytics, TAR UC will provide exploratory research and technical expertise in AI and BDA as well as computing resources and actively assist in the applications of such expertise and resources in the field of insurance.