Covering Disruptive Technology Powering Business in The Digital Age

Several collaborative signings were witnessed today as Syarikat Takaful Malaysia Berhad (Takaful Malaysia) officially launched their online sales portal called “Click for Cover” thus marking their venture into the world of digital insurance. The collaborations included a memorandum of agreement with Fusionex International, ReMark International, and collaborative agreements for online distribution with Lembaga Tabung Haji (LTH) and Bank Islam (BIMB) to introduce online Takaful products to depositors of LTH and customers of BIMB.

Officiating the launch, Datuk Seri Johari Abdul Ghani, Finance Minister II, said “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’ Sri Mohamed Hassan Kamil, Group Chief Executive Officer of Takaful Malaysia added that the launch was of great significance to their push towards digitalisation.

“Today’s launch of our digital strategy plan signifies our commitment towards revolutionising the way we will grow our business by digitally transforming our sales and operations. 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 products and high quality (of) service. Our customers will benefit from an integrated multi-channel experience and this is part of our ongoing efforts to stay ahead of the curve.”

“Click for Cover” is designed for easy-to-use interfaces as well as easy access to company products available online as well as e-payment facilities and real-time underwriting capabilities. As the first fully integrated medical underwriting engine in Malaysia, “Click for Cover” rating decisions will be generated online based on a few underwriting questionnaires. It currently offers Motor, Personal Accident (PA) and Medical products with other products such as Term Life, Critical Illness and Travel PA Takaful to be made available later this year.

Present for the signing from Fusionex was Dato’ Ivan Teh who assured doubters and to the bemused applauding audience, that although he looks like a Korean pop star, he is a born and bred Malaysian. Adding to the availability for the need of innovative ideas in the country he said, “Clearly, innovation needs to be at the core of businesses, as this differentiates the leaders versus the followers. Today, we are pleased to witness Takaful Malaysia making great strides in this direction. Fusionex is delighted to be a key partner in Takaful Malaysia’s exciting digital transformation journey, and we are confident that this initial success will lead to many more success stories with Takaful Malaysia.”

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