Innovation in Insurance

The Malaysian Insurance Institute (MII) in collaboration with FortNynja will be hosting 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 is expected to attract over 200 participants comprising tech experts, industry professionals, students, Insurtech startups, and investors. Among the challenges participants can expect include a Cybersecurity “Capture-The-Flag” treasure hunt and a “Build-your-best-solution” in the nine-day challenge.

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.

The objectives of the Hackathon are to:

Generate ideas, MVP (minimum viable product), start-ups projects that may help solve key pain points within the industry.
Raise awareness on problem statements in the insurance/takaful industry.
Promote collaborations between different stakeholders namely consumers, regulator, industry, academics and investors.

Important Dates


Pre-hack bootcamp (Introduce Mentor, Judges, Problem Statements)	Hackathon Day 1	Hackathon Pitch and Awards Ceremony

Insurance Innovation Hackathon Series of Events

17 February 3.00 p.m. – 4.30 p.m.	Industry Workshop on General and Life Insurance 101 and Release of Problem Statement Click HERE to view recording
23 February 8.00 p.m. – 10.00 p.m.	Technical Workshop on Cybersecurity and Release of Problem Statement Click HERE to view recording
10 March 3.00 p.m. – 5.00 p.m.	Industry Workshop to Deep Dive on Pain Points in Insurance from Stakeholders / Investors Point of View and Release of Problem Statement Click HERE to view recording
21 March 3.00 p.m. – 4.30 p.m.	Deep Dive: Pain Points in Insurance from Industry POV Click HERE to view recording
23 March 8.00 p.m. – 10.00 p.m.	Technical Workshop on Cloud, Building MVP in Insurance and Insurtech and Release of Problem Statement Click HERE to view recording

Content

Key agenda during the week-long hackathon

Join 1 challenge or both!

	Build MVP (Minimum Viable Product) Challenge starts from 02 April 2022 till 10 April 2022 Official kickstart Build MVP to solve these problem statements (Link) Mentoring and job matching Workshop on “How to pitch” Pitch (semi-final and finals) + Awards
	Cybersecurity Challenge starts from 08 April 2022 till 10 April 2022 Technical challenge - Capture the Flag (CTF) Networking with mentors, judges and partners Pitch (semi-final and finals) + Awards

Mechanism

Join the hackathon - solo or build a team of up to 6 members

(each team member must have a coder/designer in their team)


Cybersecurity Challenge (Technical) - Capture the Flag	Matching with mentors, potential hires and investors	Teams have to address any 1 or more problem statements and pitch with MVP (codes/design shown)

RM100,000 Worth of Prizes

Cash prizes and Awards to be presented after the Final Pitches and Results are announced


RM100,000 in total up for grabs Including credits and mentoring/incubation/e-Fintech School - post hackathon	Companies can pitch to hire talents	For both MVP (minimum viable product) and Cybersecurity Challenge: 1st prize - RM25,000 2nd prize - RM10,000 3rd prize - RM5,000. Other prizes: lucky draws, best pitch and best team.

Keen on being a Sponsor?

The Insurance Innovation Hackathon provides an invaluable platform for networking, new insights and exposure at a series of events with key industry leaders, industry professionals and solution providers. We are looking for partners who can create value and deliver exceptional support.

Get in touch with us here to learn more about sponsorship opportunities.

For any inquiries on this event, write to us at events@mii.org.my.

Scan the QR code or click on the link below to register.