Digital Innovation for Enhanced Customer Experience and Operational Agility

Key themes to address:

• Exploring the ongoing digital transformation within the Malaysian insurance sector and the imperative to enhance customer-facing digital capabilities. However, foundational gaps persist:

  • Legacy Systems: Many insurers struggle with outdated IT infrastructure that limits AI scalability. Across ASEAN, 78.5% of enterprises anticipate an increasing investment in AI, 51.2% of them cite difficulty integrating AI into existing systems as a barrier and lag in modernizing core systems.

• Identifying strategies that insurance providers can implement to effectively balance meeting customer expectations while addressing internal operational challenges.

Discover the insights into Malaysia’s cyber security landscape, tailored for Singapore-based cyber security companies, this session offers a deep dive into the opportunities, challenges, and trends shaping Malaysia’s digital security ecosystem. Gain an understanding of the market dynamics, regulatory environment, and strategic partnerships that can enable Singapore based cyber security businesses to expand and thrive in Malaysia.

This exclusive cybersecurity online discussion explores three pivotal topics related to the role of technology in our business and broader digital ecosystem, looking at:

• The role of digital trust in fostering innovation and digital transformation

  • Explore the relationship between digital trust and business agility in a rapidly changing technological landscape

• Addressing the human element in digital trust

  • Discuss the importance of digital literacy and user education in building a culture of trust

  • Examine the impact of social engineering and how IAM/PAM can mitigate human-centric vulnerabilities

• The future of digital trust ecosystems

  • Explore the concept of decentralized identity and its potential impact on traditional IAM/PAM models

  • Discuss the challenges and opportunities in creating interoperable trust frameworks across organizations and industries

Invited panelists:

• Raditio Ghifiardi, VP of Security Strategy & Architecture, Indosat Ooredoo Hutchison

• Suresh Sankaran Srinivasan, Group Head - Cyber Security & Data Privacy, Axiata

• Azril Rahim, Head of Cyber Threat Intelligence Management, Tenaga Nasional Berhad (TNB)

This exclusive cybersecurity online discussion will spotlight the burgeoning business opportunities in Malaysia and Indonesia's rapidly evolving cyber security landscapes. Both nations are experiencing significant growth in their digital economies, presenting lucrative prospects for cyber security firms looking to expand their footprint in Southeast Asia.

Key Market Insights:

• Malaysia

  • The cybersecurity market is on a steep growth trajectory, projected to more than double from RM0.95 billion in 2023 to RM2.06 billion by 2028.

  • A substantial talent gap exists, with the government aiming to cultivate 25,000 cybersecurity professionals by 2025.

  • Fraud remains the predominant cyber threat, with 2,778 cases reported as of August 2024.

• Indonesia

  • The cybersecurity market is poised for explosive growth, expected to reach $3.39 billion by 2028, with a remarkable CAGR of 24.19%.

  • Indonesia faces an alarming rate of about 3,300 cyberattacks per week, the highest in Southeast Asia.

  • A critical skills shortage persists, with the country requiring approximately 100,000 cybersecurity experts to safeguard its digital assets.

This discussion will delve deeper into these insights along with key cybersecurity trends, providing attendees with actionable insights for successful market entry and expansion in Malaysia and Indonesia's cybersecurity sectors.

Invited panelists:

• Ybhg. Dato' Ts. Dr. Haji Amirudin Abdul Wahab, Chief Executive Officer, CyberSecurity Malaysia

• Lieutenant General (Ret.) Hinsa Siburian, Chief, National Cyber and Crypto Agency, Indonesia (Badan Siber dan Sandi Negara, BSSN)

Sources:

• https://www.itnews.asia/news/malaysia-ramps-up-cyber-security-defense-to-stem-rising-fraud-and-ransomware-attacks-612379

• https://www.mordorintelligence.com/industry-reports/malaysia-cybersecurity-market

• https://techforgoodinstitute.org/blog/expert-opinion/indonesias-cyber-resilience-at-the-epicenter-of-asean-digital-economy-growth/

Working group discussing:

• Mitigate Risks through Proactive Cyber Risk Management and Resilience Strategies

• Explore Governance Frameworks for Cloud and Data in Emerging Technologies

• Leveraging Technologies to Strengthen Cyber Resilience in a Dynamic Threat Landscape

Working group discussing:

• Alignment of AI use with Business Goals

• Data Readiness in the Organisation

• Organisational Readiness

Working group discussing:

• Navigating the complexities for the supply chain in the digital age

• Supply chain adaptations for changing consumption patterns

• Automation and AI-driven productivity

• Real-time visibility for predictive supply chains for decision-making to reduce risks and improve operational efficiency