Which of the following is an example of distribution channel used by takaful company?

“Selling of Islamic insurance and other similar products through a bank” is definition of?

Many takaful companies use the agency system for marketing family takaful products rather than general takaful products

_________will makes the recommendation to their clients to which insurer or takaful provider they should choose

What is the benefit received by an agent of takaful company?

i. Basic and overriding commission

ii. Persistency bonus

iii. Overseas trip

A/an _________is someone who legally represents the takaful operator, and can bind the takaful operator by apparent authority

All of the below are marketing strategies for agency system except

Agency Department is responsible for all agents and agency affairs including:

i. Career development

ii. Preparation of contract between agent and takaful operator

iii. Arrange takaful schemes on behalf of participants

iv. Crediting the commission

Agent represents one or more takaful companies, while brokers represent takaful buyer and not appointed by insurer

A website or portal provide by takaful operators will forbid the sale force and partners in better serve customers. The portal also will increase number of walk-ins as well as phone and written enquiries, thus enable to improve operational capability and customer service.

All of the below are advantages of direct marketing except

A broker is an individual who arranges and services takaful schemes on behalf of the participants

What is the broker’s function?

i. To study the needs of the participant

ii. Analyze the risks exposure facing the participant

iii.Given the authority by a takaful operator to solicit, propose and create takaful contracts

iv.Recommend ways to reduce the physical hazards

Miss Hazwani as a takaful brokers need to be knowledgeable about her client’s background and history and make the recommendation to her clients as to which insurer or takaful provider they should choose

Brokers have the authority to initiate a policy on the insurer’s behalf and have the permission to bind coverage

Marketing strategies for brokers are including:

i- Must have good rapport with all the broker

ii-Must offer competitive commission to the brokers

iii-Must be able to meet brokers request for the cover

iv-Must be specialized in certain industry

What is the distribution channel used by these two institutions?

Mrs. Afaf prefer to use online-based system to do the takaful’s transaction because the application of the contract can be done online and have the choices for mode of payment

In view of Shariah, is it permissible for takaful companies to use agents and brokers as their representative?

Sun Life Malaysia Takaful Berhad and Bank Rakyat has announced the formalisation of a 4-year agreement that would allow for Sun Life’s products to be made available to Bank Rakyat’s strong customer base worldwide.

This is example of?

In your opinion, what are the best distribution channel that can used by Takaful Ikhlas to generate more takaful participation?