“Today’s launch of our digital strategy plan signifies our commitment towards revolutionizing the way we will grow our business by digital transformation our sales and operations,” said Dato’ Seri Mohamed Hassan Kamil, Group Chief Executive Officer of Takaful Malaysia.

“By embracing digital tools and technology to offer up differentiated product offerings and services, we will delight our customers with a better user experience, enhanced protection product and high quality service,” added Dato’ Seri Mohamed.

Datuk Seri Johari Abdul Ghani, Finance Minister II, officiated the ceremony that also witnessed the signing of an agreement with Fusionex International, a market leader in data technology, analytics and AI and ReMark International, a digital insurance marketing specialist company. Collaboration arrangements for online distribution with Lembaga Tabung Haji (LTH) and Bank Islam (BIMB) were signed to introduce online Takaful products to depositors of LTH and customers of BIMB.

Datuk Seri Johari Abdul Ghani stated, “Today’s launch of Takaful Malaysia’s digital strategy is very much in line with the overall digital strategy outlined by the Government in growing the digital economy.”

Dato’ Seri Hassan Kamil in conclusion said, “As an innovative company, the launch of the portal to buy insurance online is also in line with the Government’s efforts to promote a digital economy. We will leverage on the lower transaction cost of online sales channels, in order to deliver better pricing and thereby more accessible products to the market as a whole.”

Datuk Seri Johari Abdul Ghani, Finance Minister II, during the launch of Click for Cover.

For more information about Click for Cover, visit https://online.takaful-malaysia.com.my.

The post Takaful Malaysia Launches “Click for Cover” Online Sales Portal appeared first on iBanding Making better decisions.

AMB Chief Executive Officer, Zakri Khir said, “Despite the challenges of the year, Allianz Malaysia has showed strong resolve to remain resilient with RM4.29 billion in GWP for the financial year of 2017. This year, it is business as usual as we continue to grow and drive innovation through new products and leveraging on the expanding marketplace, superior service and customer satisfaction. In 2018, we are shifting gears towards making Allianz to be a household brand that is synonymous with protection for everything you need, literally from A to Z.”

In continuing to put customers first, Allianz Malaysia is focused on driving superior business value through consummate insurance solutions.

“In our current business climate, customer experience is key.  As an insurer, being able to deliver superior customer experience is akin to being able to achieve the bliss point, the right balance between delivering smart products and meaningful service both on the general and life insurance that Protects you from A-Z,” said Zakri Khir, Chief Executive Officer of Allianz Malaysia Berhad.

Allianz General‘s GWP took in RM2.14 billion in 2017 as compared to RM2.08 billion in 2016, an increase of 2.5% . Underwriting Profit was at RM101.6 million in 2017 from RM166.9 million in 2016 while Profit Before Tax dropped by 16.7% in 2017 to RM266.9 million from RM320.5 million in the previous year. Total Assets rose 2.9% to RM 5.96 billion in 2017 from RM5.79 billion in 2016 while the Combined Ratio in 2017 stood at 94.5 percent as compared to 90.4 percent in 2016.

Allianz Life continues strong growth with RM2.15 billion GWP in 2017 from RM2.10 billion in 2016. Its New Business Premiums (ANP) rose by 15.3% in 2017 to RM452.5 million from RM392.5 million in 2016. Profit Before Tax also grew an impressive 24.9% in 2017 to RM 172.9 million compared to RM138.4 million the previous year. Total Assets also rose by 16.8 percent to RM10.14 billion in 2017 from RM8.68 billion in 2016.

Allianz Life holds the fifth position among the life insurance segment, registering an improved 7.4 percent market share in 2017 from 6.6 percent in 2016.

The post Allianz Malaysia Stays Resilient in 2017 with RM4 Billion in GWP appeared first on iBanding Making better decisions.

This latest family takaful plan by ZTMB provides guaranteed takaful coverage to its participants up to the age of 90 years. And it is available to anyone between the ages of 30 days old to 65 years old.

“It is evident that Malaysians are finding it hard to save in today’s challenging economic environment based on the fact that 50% of urban households in Malaysia do not have any form of financial savings,” said ZTMB’s Chief Executive Officer, Salim Majid Zain during the launch.

In fact, based on a survey carried out by BNM in 2015, more than 75% of Malaysians find it difficult to raise even the amount of RM1,000 in an emergency situation.

“Hence, we developed Executive20 as an ideal plan to help those looking to grow their savings whilst securing adequate protection against unfortunate events. With the annual cash payout benefit, customers can decide to use it for what truly matters to them,” added Encik Salim.

According to ZTMB, the 5 key benefits and features of Executive20 include:

• Guaranteed Takaful Coverage – Guaranteed death benefit up to age 90 and guaranteed total permanent disability (TPD) benefit up to age 75.
• Annual Cash Payout – Participants can earn annual cash payouts from the Participant Risk Investment Account (PRIA) from the end of second certificate year and annually thereafter until certificate maturity with the options to choose from 2%, 4% or 6%of the basic sum covered.
• Maturity Benefit – Upon certificate maturity, participants will receive maturity benefit equal to the Participant Investment Account (PIA) value.
• Enhanced Coverage Options – Participants have the option to optimise their protection against unexpected events such as critical illnesses (CI), death or TPD by attaching additional riders which includes payor benefit, level term and waiver of contribution for CI.
• Conversion to other Family Takaful plans – Participants are able to extend and convert their protection to other selected Zurich Takaful plans upon certificate maturity without having to present any medical evidence.

Additionally, Executive20 provides a value-added option for participants wishing to fulfil their religious aspirations (Badal Hajj, Qurban, Waqaf and Amal) under the Amanah Trust Programme which is managed by Amanah Raya Berhad.

For more information about Zurich Takaful Malaysia’s Executive20, please visit https://www.zurich.com.my/en/show-me-zurich-takaful-products/for-myself-savings/for-my-future/executive20.

(From Left to Right) –Philip Smith, Executive Director of ZTMB and Chief Executive Officer of ZIMB, Salim Majid Zain, Chief Executive Officer of ZTMB, Mukesh Dhawan, General Manager of Life Insurance, ZIMB introducing Executive20, ZTMB’s latest family takaful plan.

The post Annual cash payouts and guaranteed protection by Zurich Takaful Executive20 appeared first on iBanding Making better decisions.

According to Datuk Dr Mohammed Azman Aziz, the Chief Executive Officer of Social Security Organisation (Socso), the Malaysian government had allocated RM122 million to Socso in order to carry out the scheme (EIS).

It is expected that over 57,000 individuals will be making a claim from the benefits offered under EIS next year. Furthermore, those who take up the Voluntary Separation Schemes (VSS) are also eligible for the same benefits. However the benefits are not extended to those completing their contracts.

Socso is organizing a roadshow that will cover 17 locations throughout the nation for a month starting in December to educate employers, employees and workers unions of EIS’ coverage, registration, contribution, administration and enforcement.

The scheme will commence in January 2018 as a social safety net aimed at helping laid-off private sector workers with financial aid while they look for new jobs.

Under the EIS scheme, the contribution from employers will 0.2 per cent of an employee’s monthly salary and likewise from the employee.

The post Cash allowance for laid-off workers under EIS in 2018 appeared first on iBanding Making better decisions.