Introduction & Historical Background How to sell Takaful Products? Recent Developments Bancatakful What is Banca & Why?

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Laureen Bruce
5 years ago
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1 November 9 th - 10 th, 2015

Takaful is a fast growing concept of Islamic Insurance and it is not only the Shari ah Compliant risk covering product rather its feature of potential return gives it a competitive edge over

Latest industry data shows that there has been an ideal growth in the mutual cooperative insurance and its global market share reached at 30 % with optimistic trends.

2 Takaful is a fast growing concept of Islamic Insurance and it is not only the Shari ah Compliant risk covering product rather its feature of potential return gives it a competitive edge over conventional insurance achieving wider acceptability and commercial attraction for this pristine through nascent industry. Latest industry data shows that there has been an ideal growth in the mutual cooperative insurance and its global market share reached at 30 % with optimistic trends. Takaful consultancy wing of AlHuda CIBE offers expert services of Consultancy, Advisory, Training, Capacity Building, Research and Shari ah compliant product development for the Insurance Industry to ensure ready availability of Takaful (Islamic Insurance) products and services with prudent practices around the Globe.

3 Introduction & Historical Background Definition & Fundamental Principles Difference in Concept & Difference in Contract Early practices Reference in first constitution of Madina Takaful practice through the ages. Recent Developments Evolution during the seventies Judicial opinions and Fatwas Formation of first Takaful companies Developments in the Far East Developments in the Middle East Takaful Models The Mudaraba Model The Wakala Model The Waqf-Wakala Model Investment Models Takaful Comparison Comparison with mutual societies Comparison with cooperatives Comparison with self-retention schemes Comparison with conventional insurance Takaful Documents Proposal form Participants' Membership Documents Claims procedures Surplus sharing mechanism Co Takaful Mechanism Need for Proposal Form/Client's consent Need for separate Policy for own share percentage Co-Takaful under lead of other Takaful Company Co-Takaful under lead of a conventional insurer Co-Takaful claims handling. ReTakaful Background Current Key players Constraints and issues Recent developments Takaful Worldwide Statistics Global Takaful growth Future prospects Conclusion How to sell Takaful Products? Creating Awareness Offer' Vs 'Sales Market Conduct Follow-ups Client servicing & client retention Bancatakful What is Banca & Why? History of Banca Success of Banca How so successful Developing the Banca Channel? Pre requisites Possible structur Pros and Cons of Structure Outside the box! Developing Banca Products Key elements of Successful Banca products What works and what doesn't? Outside the Box! Technology & Marketing Most useful element in arrangement both for bank and Takaful Company Creative Utilization Outside the Box! Marketing of Bancatakaful How to do it What works and what does not Outside the box! Customer Service for Bancatakaful Ease of Bancatakaful customer Service What to be wary of Outside the Box! Product Development Characteristics of successful Product Who designs and develop product? Competitive strategy Challenges and benefits of Product Market segmentation Cost benefit Innovation in existing system

4 Azeem Iqbal Pirani is the Regional Head for Pakistan at FWU AG. As the main representative for the Munich headquartered company in Pakistan he is responsible for setting up the branch as well as putting in place required agreements to enable it to carry out its business of facilitating BancaTakaful. FWU is presently the largest global distributor of Banca Takaful. Prior to joining FWU AG Azeem was Head of Marketing & Alternate Distribution at Pak-Qatar Family Takaful, Pakistan's first Family Takaful Operator. Prior to that he was Manager of the Marketing department and Contact Center at Meezan Bank Limited, Pakistan's first and largest dedicated Islamic bank. On the social front Azeem is one of the founding trustees at Ihsaas Trust. A Shariah compliant microfinance provider which aims to help its brothers and sisters in humanity becomes selfreliant. Azeem has published a number of articles in the field of Islamic finance and Takaful and is frequently invited to speak on these subjects at various venues including universities and television programs. He holds a Postgraduate Diploma in Islamic Banking and Finance from the Center of Islamic Economics in Pakistan, an MBA in International Business from the University of New Brunswick in Canada, and BBA.

5 November 9th - 10th, 2015 November 9th - 10th, 2015

nd rd May 22-23, 2015 Movenpick Hotel, Karachi-Pakistan

nd rd May 22-23, 2015 nd rd May 22-23, 2015 Movenpick Hotel, Karachi-Pakistan Movenpick Hotel, Karachi-Pakistan www.alhudacibe.com/ttk2015 AlHuda CIBE AlHuda Center of Islamic Banking and Economics (CIBE)