Takaful Malaysia upbeat on online sales
KUALA LUMPUR: Syarikat Takaful Malaysia Bhd (Takaful Malaysia), which recently launched its online sales portal called “Click for Cover”, anticipates a 20%-25% rise in its online sales this year.
Speaking at the launching ceremony last Friday, its group CEO Datuk Seri Mohamed Hassan Kamil said the new online platform will allow consumers to access the company’s products online and buy their preferred insurance products such as motor, personal accident and medical products.
“With more products such as term life and critical illness that will be made available (on the portal) later this year, we believe the (online) business will continue to flourish,” he added, noting the service will also provide e-payment facility.
Catering to the millennial group below 35 years old, Mohamed Hassan said the new online distribution channel would provide more options for youths to explore the insurance products without being pressured.
“These are the people that we believe are still under insured as they are not aware of the importance of having a proper insurance, or having difficulty in accessing affordable cover. Hopefully with this digital capability, we will be able to tap that market,” he added.
Nonetheless, Mohamed Hassan said the company’s agency force will continue to be dominant as there are certain types of products, which require advisory services, that can only be sold by its agents.
The launch also witnessed the insurance company signing a partnership agreement with Fusionex International, Fusionex CEO Ivan Teh, a data technology provider and ReMark International, a digital insurance marketing specialist, marking its venture into digital insurance.
Takaful Malaysia also signed collaboration arrangements for online distribution with Lembaga Tabung Haji (LTH) and Bank Islam Malaysia Bhd (BIMB) to introduce its online Takaful products to depositors of LTH and BIMB’s customers.
“We have tied our digital strategy plan with a face-to-face marketing initiative leveraging on Tabung Haji Islamic Financial Service Centres (IFiC) and the network of Bank Islam branches to promote our Click for Cover portal.
“We are looking to secure about three to five million subscribers by end of the year, because if we look at Tabung Haji and Bank Islam, there is easily about two or three million customer base initially,” Mohamed Hassan said.
Meanwhile, Second Finance Minister Datuk Seri Johari Abdul Ghani who officiated at the launch, said Malaysia’s economic environment and market sentiment remain positive, in view of the strengthening ringgit, growth in exports and improved oil prices, which translate into better revenue for the government. https://www.digitalnewsasia.com/digital-economy/what-next-2017-getting-ball-rolling-smes