Takaful Malaysia launches risk management product
by Venu Puthankattil (email@example.com). Posted on May 12, 2011, Thursday
KUCHING: Syarikat Takaful Malaysia Bhd (Takaful Malaysia) introduced its latest exclusive and innovative product, Takaful mySME which focuses on risk management solutions for the four top business sectors in Malaysia.
In a media conference held here yesterday, Takaful Malaysia chief marketing officer Alex Tan initiated a panel discussion by stating that ‘risk management’ was understood to be ‘insurance’ which in turn meant ‘protection’ for individuals and businesses alike.
As such, mySME risk management solutions were offered to small-and-medium-enterprise (SME) entrepreneurs to enjoy the best comprehensive protection plan.
He pointed out that Takaful products were open to all Malaysians provided the businesses conferred to islamic principles.
Tan also emphasised that Takaful Malaysia premiums were on average lower than conventional insurance coverage and that the takaful certificate holders who did not make any claims in the first 12 months would be entitled to a 15 per cent rebate automatically.
Also present in the panel discussion were head of EONCap Islamic Bank Bhd (EONCap Islamic) business banking-i Ruslena Ramli, Rabiah Amit managing director of Rabiah Amit Cake House, managing director of SME Factors Sdn Bhd Syed Zed Al Qudsy and panel mediator Vickneswari Gannason.
Takaful Malaysia had recently signed a Memorandum of Understanding (MoU) with SME Corp Malaysia on April 5 to bring awareness to Malaysian SMEs via roadshows themed “Powering SMEs with Takaful mySME’.
SME Corp (Sarawak) state assistant director Florence Mawar said that SMEs made up 99.2 per cent of the business sector and the four sectors being focused on were light manufacturing, retail, food and beverages as well as office and services.
Ruslena pointed out that EonCap Islamic currently offered a whole suite of banking and financial products as well as custom-tailored combinations for SMEs as outlined in the working capital enhancement scheme.
Syed Zed emphasised that assistance of local SMEs, talent retention, enhanced customer service innovation and market focus were essential in developing SMEs on a larger scale.
Rabiah, with almost 30 years experience as a SME operator, started the business at home and faced many challenges over the years, including a fire which destroyed the business premises and a vehicle.
As such, she concluded by stating that protecting the business was absolutely essential. This concurred with Tan’s earlier statement that insurance was about protecting the business and self.