Bancatakaful, A Specialised, Two-Part Online Training Module

BancaTakaful
A Specialised, Two-Part Online Training Module for those Strategizing, Developing and Managing Takaful and Bancatakaful Operations

Date: 15^th & 16^th March 2021

WHY THIS COURSE?

While certain forms of insurance are mandatory, overall insurance market penetration in many developing markets remains low, with life insurance often representing less than one fifth of total premiums. In recent years, financial regulators in these markets have issued important directives and draft regulations on Bancassurance for Takaful providers and financial institutions. What does this mean for the distribution of Takaful products through banks and financial institutions and what opportunities are presented?

But what is Bancatakaful, what opportunities can it offer and what are the key elements to success? This unique, practitioner-led online program will examine the provision and distribution of Takaful products through banks and financial institutions. By sharing the program director’s extensive practical experience, the program will provide an important analysis of Bancatakaful products, strategy, operations, marketing and branding, and sales and distribution. Through attending, participants will be able to take away key knowledge and expertise that can be directly applied to real-life business operations.

KEY TAKEAWAYS AND LEARNING OBJECTIVES
- Understanding what Bancatakaful is and why it can be an attractive proposition
- Developing an initial Bancatakaful business plan
- Developing and implementing a successful Bancatakaful strategy
- Understanding the importance of customer segmentation
- Analyzing the characteristics of successful customer solutions
- Ensuring service excellence
- Developing insurance adviser sales toolkits
- Improving productivity through the adoption of digital applications
- Understanding the universe of Shariah compliant investments
- Ensuring effective operations, risk management and compliance

Fee

1 participant: RM1,450/$375
2 participants: RM2,900/$750
3 participants: RM4,350/$1,125
4 participants: RM5,800/$1,500
5 participants: RM7,250/$1,875

Early Payment Discount: Payments made on or before 8^th March 2021 will receive a 7.5% discount. Payments received after this date will be re-invoiced for the full amount.

In-house/group training

If you are looking for an in-house training program or wish to send a group to an existing public program, kindly please contact Andrew Tebbutt at [email protected] or +603 2162 7802.
Learn More

For enquiries please contact:

Mathias Sosovele
Account Manager, REDmoney Seminars
[email protected]
Direct Line: +603 2162 7800 ext 25

Normariya Sariman
Account Manager, REDmoney Seminars
[email protected]
Direct Line: +603 2162 7800 ext 44

Ramesh Kalimuthu
Events Sales Director
[email protected]
Direct Line: +603 2162 7800 ext 65
Fax: +603 2162 7810

For sponsorship & speaking opportunities:

Andrew Tebbutt
Managing Director
[email protected]
Direct Line: +603 2162 7802

For marketing and media enquiries

Anna Rozana Ramli
Marketing Director
[email protected]
Direct Line: +603 2162 7800 ext 22

WHY THIS COURSE?

KEY TAKEAWAYS AND LEARNING OBJECTIVES
- Understanding what Bancatakaful is and why it can be an attractive proposition
- Developing an initial Bancatakaful business plan
- Developing and implementing a successful Bancatakaful strategy
- Understanding the importance of customer segmentation
- Analyzing the characteristics of successful customer solutions
- Ensuring service excellence
- Developing insurance adviser sales toolkits
- Improving productivity through the adoption of digital applications
- Understanding the universe of Shariah compliant investments
- Ensuring effective operations, risk management and compliance

Who Will Benefit

This two-part module is aimed at professionals responsible for formulating strategy, designing and implementing systems and products for Takaful, and in the case of financial institutions, Bancatakaful.
- Senior management from banks and Takaful providers
- Product division managers and heads
- Team members who design products and systems for Takaful
- Audit, risk management, IT and compliance team members
- Sales, marketing and branding teams
- Supervisors and regulators
- Consultants and advisors

Program Format

This two-part training program will be delivered online through a stable, secure and free-to-access platform. The program itself will be delivered through lectures, worked examples and case studies in order to ensure a detailed and practical understanding of the program content. Participants will have plenty of opportunity to ask questions and interact with the program director. Login details and program materials will be sent to participants upon receipt of payment

Fee

1 participant: RM1,450/$375
2 participants: RM2,900/$750
3 participants: RM4,350/$1,125
4 participants: RM5,800/$1,500
5 participants: RM7,250/$1,875

Early Payment Discount: Payments made on or before 8^th March 2021 will receive a 7.5% discount. Payments received after this date will be re-invoiced for the full amount.

In-house/group training

If you are looking for an in-house training program or wish to send a group to an existing public program, kindly please contact Andrew Tebbutt at [email protected] or +603 2162 7802.
Learn More

AGENDA AND FORMAT

Each session will be interactive in a seminar format, with participants encouraged to engage with questions throughout.

PLATFORM

AGENDA

Part One: 15^th March, (3.5 hours)

Market Overview: The Gulf and Southeast Asia

Market size, main business lines, insurance density
National versus foreign players
The insurance ecosystem
Examples of recent market innovation

The Successful Bancatakaful Business Plan and Strategy

Partner selection and due diligence
Gaining top management buy in and customer segmentation
Ensuring the right mix of customer solutions across multi distribution channels
Building a compelling value proposition focused on evolving customers’ lifestyle needs
Deployment of digital applications to gain competitive edge
Monitoring new market entrants, especially technology players

Effective Customer Segmentation

Tailoring differentiated customer centric solutions
Understanding that simplicity, customer convenience and shelf space management are key
Customer segmentation by age groups, income bands and investment risk appetites
Optimising social media lead generation/referrals

Developing Effective Customer Solutions

Digital customer fact find/risk profiling
Discovering and solving customers’ real financial planning needs
Crafting bespoke solutions, designing value added benefits and process innovation

How to Ensure a Culture of Service Excellence

Delivering quality customer service/care
Prompting processing/settling claims
Enhancing persistency ratio/retention
Capitalising brand power, customer trust and reward loyalty
Increasing overall customer satisfaction

Part Two: 16^th March (3.5 hours)

Case Study: Regulatory Frameworks and Implications for Bancatakaful
Using the example of UAE Banca Regulations, we look at how regulatory frameworks influence the strategy and operations of Bancatakaful operators

IA Board of Directors Decision Number 49 in mid-October 2020
Digital insurance BOD 18 in April 2020
Commission caps, fees and charges
Policyholder protection including free look period and illustrations

The Insurance Adviser Sales Toolkit

Customer fact find/risk profiling
Sales quality metrics and adviser productivity
Handling customer objections
Monitoring surrenders, lapses and terminations
Mis-selling risk mitigants

Promoting Productivity through Digital Applications

Key trends in insurance innovation
Innovation dynamics and landscape
Market opportunities
Digital capabilities critical to success, including examples

The Importance of Shariah Compliant Investments

Market overview
Investment risk calibrated portfolios
Risk management guidelines for Takaful operators
Benefits of Sukuk

Effective Operations, Risk and Compliance Functions

Service model for a unit linked savings plan
Online sales process flow
Financial accounting
Claims settlement
Back office and reports

Course Wrap-up and Final Discussion

EXPERT COURSE DIRECTORS

Sohail Jaffer
Experienced International Islamic Finance Leader

Sohail Jaffer is an experienced international Islamic Finance leader with a successful track record in new business development in Europe and the growth markets. He is a pioneer of promoting the growth of cross-border Takaful business and Shariah compliant investments and has established a scalable Bancatakaful business in multiple growth markets including the GCC, Malaysia and Pakistan. He was also one of the first movers to embrace the use of digital applications to enhance the customer journey, significantly improve sales advisor productivity and rejuvenate overall customer experience.

Mr. Jaffer enjoys nurturing new business and market entry initiatives. He shaped market entry strategy into several growth markets and established strategic Bancatakaful distribution partnerships. Bi-lingual (English and French), he has international experience in UK, Europe, Middle East, Africa and Southeast Asia. He is a qualified UK chartered certified accountant (FCCA).

Mr. Jaffer promoted industry thought leadership in Takaful, Shariah compliant asset management and the Sukuk business. He is a former Chairman of the Alternative Investment Management Association, AMA (1997 to 2000), member of the ALFI/LFF Islamic Finance Working Groups in Luxembourg and a member of the Gulf Bonds and Sukuk Association in Dubai. Sohail also contributed to many trade publications and originated and edited several Euromoney Islamic Finance books on Takaful, Sukuk, Shariah compliant Wealth Management, Asset Management, Investment Banking and the nascent Shariah compliant Pensions business.

Sohail Jaffer has a strong international industry network with institutional investors, regulators, service providers, standard setting bodies such as the IAFSB, AAOIFI and trade associations. He recently joined the Institute of Directors (ILA) in Luxembourg with a view to learning more about corporate governance, NED best practice standards and interaction with the existing members.

WHO WILL BENEFIT

This two-part module is aimed at professionals responsible for formulating strategy, designing and implementing systems and products for Takaful, and in the case of financial institutions, Bancatakaful.
- Senior management from banks and Takaful providers
- Product division managers and heads
- Team members who design products and systems for Takaful
- Audit, risk management, IT and compliance team members
- Sales, marketing and branding teams
- Supervisors and regulators
- Consultants and advisors

REGISTRATION

*Please note there is a fee for attending this program. Please contact us for more details.

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Verification

Before completing this registration form please read and understand our booking and cancellation policy. Thank you.

Booking, Payment and Cancellation Policy – important, please read carefully

By completing, signing and revised, sent separately us this registration form you are conﬁrming participants on the program. You are also conﬁrming your understanding of our Booking, Payment and Cancellation Policy.

Cancellation Policy: If participants cannot attend the program, replacement participants are always welcome. Otherwise, participants must notify us any of cancellations or requests to transfer to a diﬀerent program at least 14 days before the program date to be eligible for a refund, less a 5% administration on fee. Participants who cancel within 14 days of the program start date are liable to pay the full program fee and no refunds will be given. Instead fees will be converted to a REDmoney Seminars voucher equivalent to the original fee, less a 10% administration charge. This voucher is transferable within your organization and must be redeemed within one year of issue or become void. If a program is postponed for whatever reason registrations and fees will be automatically transferred to the new program date. Participants who wish to transfer to a diﬀerent program will be subject to the same terms as above and charged any diﬀerence in fees. No refunds or program vouchers will be issued for a no-show.
Payment Terms: All program fees are payable upon invoice. REDmoney shall receive the full program fee with no deductions of any description. All telegraphic transfer fees, taxes and levies (domestic or otherwise) shall be borne by the sponsoring organization.

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For enquiries please contact:

Mathias Sosovele
Account Manager, REDmoney Seminars
[email protected]
Direct Line: +603 2162 7800 ext 25

Normariya Sariman
Account Manager, REDmoney Seminars
[email protected]
Direct Line: +603 2162 7800 ext 44

Ramesh Kalimuthu
Events Sales Director
[email protected]
Direct Line: +603 2162 7800 ext 65
Fax: +603 2162 7810

For sponsorship & speaking opportunities:

Andrew Tebbutt
Managing Director
[email protected]
Direct Line: +603 2162 7802

For marketing and media enquiries

Anna Rozana Ramli
Marketing Director
[email protected]
Direct Line: +603 2162 7800 ext 22

WHY THIS COURSE?

Fee

In-house/group training

WHY THIS COURSE?

Who Will Benefit

Program Format

Fee

In-house/group training

AGENDA AND FORMAT

PLATFORM

AGENDA

Part One: 15th March, (3.5 hours)

Part Two: 16th March (3.5 hours)

EXPERT COURSE DIRECTORS

WHO WILL BENEFIT

REGISTRATION

Approving Manager

Verification

Part One: 15^th March, (3.5 hours)

Part Two: 16^th March (3.5 hours)