Sykt Takaful aims to be largest player

SYARIKAT Takaful Malaysia Bhd (STMB), which has RM4 billion in assets, aims to be the largest takaful insurer in the country in terms of assets within two years.
Group managing director, Datuk Hassan Kamil, said currently, STMB was in second position after Etiqa Takaful Bhd, which has 400,000 policyholders.
He said the company hoped to sign up at least 10 per cent more policyholders within a year of the launch of the one-stop Takaful myDesk in collaboration with Lembaga Tabung Haji.
"Through the Takaful myDesk, the company also hopes to achieve approximately RM1 million worth of contributions, also within the first year of operations," he told reporters after the launch of Takaful myDesk in Kuala Lumpur today.
Hassan said the contributions were expected to be much higher because the customers could also renew their motor policies, buy Takaful mySiswa (education plan) and Takaful myRawat (health insurance in preparation for them to go on haj).
He said the collaboration would also boost its presence with the establishment of Takaful myDesk at selected Tabung Haji (TH) branches nationwide in addition to its present 56 branches.
The TH branches are in Jalan Tun Razak (Kuala Lumpur), Penang, Pasir Puteh (Kelantan), Bagan Serai (Perak), Kuala Pilah (Negeri Sembilan), Kota Tinggi (Johor) and Bentong (Pahang), he said.
"It's a cost-effective distribution network. The partnership allows us to market our products through TH branches," he said.
Under the agreement, Hassan said, STMB would provide facilities such as computers, while TH the space to set up Takaful myDesk.
"We have been studying this proposal for the last six months where we actually identify together with TH the locations where we feel will have the maximum impact," he said.
Hassan said the set-up of MyDesk would be in stages. The TH Jalan Tun Razak branch started operation on June 1 while the Penang branch will commence on August 3.
"Hopefully in the next six months we will be able to cover all the locations," he said.
He said the cost was minimal because technically, what was needed was a computer and the connectivity.
"So, the person sitting at the desk will be online with our takaful system at the head office.
"They can actually issue the certificate and receipts on the spot," he said. - Bernama (22 June 2009)