an insurance perspective, however, trans - border solutions for such businesses are substantially more complicated. the ride - sharing model combines private vehicles with commercial use. the seamless insurance coverage for uber drivers that integrates exposures from private and commercial use, and satisfy the mandatory requirements under different domestic laws, are not yet fully developed in all markets. this example calls for bespoke and efficient solutions which may not be readily available in certain traditional insurance markets. to put this in perspective, google has projected that southeast asia ’ s web - generated business will multiply over 6 times to $ 200 billion by 2025, from $ 31 billion in 2015. the massive impact of technology on the world as we know it, will create new insurance gaps and demand for bespoke solutions. this will set the stage for captives to take on a more active role in the risk management ecosystem. companies that are altering the business landscape will need creative and efficient risk transfer solutions that address their unique business needs. used alongside other risk management strategies, including the traditional insurance market, captives allow companies to design an optimal risk transfer structure. for example, more standard risks can be insured in the traditional market while more specific and bespoke risks can be tailored and underwritten by the captive. the benefits go both ways. captives can, and should, also contribute significantly to the development of the industries they serve. insuring with captives enables businesses and economies to better weather insurance market cycles. especially for smaller and mid - sized companies, captives can be a powerful catalyst for more mature risk management practices and culture. this comes from putting control of a company ’ s insurance needs in its own hands and encouraging a longer - term and more sophisticated view of risk. the effects also accrue to the wider insurance industry. the captive can act as a ‘ risk incubator ’ by recording and accumulating data and information about lesser known risks. in time, this will promote conditions for the development of new products and markets as businesses and solution providers continuously seek out more efficient ways to manage risks. future trends – opportunities and changing norms for captives what the future holds for captives. three trends are worth noting. first, captives are poised to move beyond the predominant focus on the single parent - captive 2 / 4 bis central bankers'speeches model and the exclusive domain of large corporates. in fact, many non - profits entities in the us, and an increasing number of smes are accessing captives via group captive models that pool assets

financial system. moving forward, bank negara malaysia will continue to focus on the development of the necessary infrastructure to ensure that consumers are given greater access to information on financial products and services that will enable them to make well - informed choices and safeguard consumer interests. among the measures that are being finalized for implementation is the issuance of guidelines to ensure that the public has access to banking services at reasonable costs. guidelines have been issued to banking institutions to govern the imposition of fees and charges. with effect from 1 february 2005, banking institutions will also be required to provide ‘ basic banking services ’ to malaysians at minimal costs. the guideline specifies the minimum threshold of services and monthly transactions that are to be offered without charges. the details of the services offered under this guideline are being announced today. over and above these financial services, as products and services become more complex, financial institutions need to provide appropriate pricing that not only reflect costs but also adequately reflect the cost saving that arises from investments undertaken. in an increasingly competitive environment, efforts also need to continuously aim at enhancing efficiency and cost effectiveness. this will not only bring benefits to the consumers and businesses but to the overall economy. ladies and gentlemen, one crucial element of the safety net for consumers is deposit insurance. work in this area is at an advanced stage and will be operational soon. the deposit insurance system will further strengthen incentives for financial institutions to adopt sound financial and business practices and enhance public confidence in the financial system by providing explicit protection on deposits. this represents an additional enhancement to the consumer protection framework to promote confidence in, and the soundness of the financial system. tuan - tuan dan puan - puan, pembangunan masyarakat pengguna yang berpengetahuan dan mampu menguruskan hal ehwal kewangan peribadi masing - masing dengan baik memerlukan usaha dan kerjasama erat di antara institusi kewangan, pengguna dan persatuan pengguna serta pengawal selia. bank negara malaysia akan mempastikan industri kewangan memainkan peranan secara aktif dalam usaha ini. namun demikian, proses ini wajar dipacu oleh institusi - institusi kewangan. persatuan - persatuan pengguna juga mempun