Tune Protect has informed that it has received Bank Negara Malaysia approval to commence testing of SME EZY, which is an employee benefits life insurance comprising Group Term Life, Group Hospitalisation, and Surgical, and Group Outpatient Clinical Benefits for small and medium enterprises.
This is part of the Central Bank’s financial technology regulatory sandbox.
The group said the approval is not expected to have any material effect on the earnings, net assets, and gearing of TPG Group for the financial year ending 31 December 2022.
The Regulatory Sandbox was launched by Bank Negara Malaysia in October 2016, to provide a regulatory environment that is conducive for the deployment of financial technology and facilitate overall innovation in the Malaysian financial sector.
