Family Takaful has achieved significant success in SE Asia, with the family segment in Malaysia reaching a substantial 73% of net contributions according to the Ernst & Young World Takaful Report 2010, launched recently at the 5th Annual World Takaful Conference (WTC 2010) held in Dubai. Working in strategic partnership with Etiqa, the launch of the 1st Annual World Takaful Conference: Family Takaful Summit-Malaysia to be held in Kuala Lumpur on the 14th and 15th of July 2010, builds on this solid foundation and focuses on: "Bringing Family Takaful into the 2nd decade of the 21st century." This innovative and focused Summit builds on the successful 5 years of history of the World Takaful Conference, which gathers more than 350 senior executive leaders from across the world in Dubai each year.
Tackling core issues relevant to both Takaful Operators and Takaful Agents through a unique conference format featuring a combination of joint plenary and break-out sessions for agents and operators, the WTC Family Takaful Summit Malaysia will provide an innovative platform for taking Family Takaful to the next level of development and growth.
Shahril Azuar Jimin, Chief Executive Officer, Etiqa Takaful Berhad speaking ahead of the event said "Etiqa is very much committed to the growth of the burgeoning Takaful and Re-Takaful industry, both in Malaysia and globally and we are delighted to draw on the expertise and experience of MEGA, which has shaped the Islamic finance industry since 1993, in bringing a regionally focused event to Malaysia. The World Takaful Conference: Family Takaful Summit, Malaysia will provide the industry with a unique platform to share experiences from established centres of Takaful operators as well as engage the distributors of these products so as to acquire a first hand view of product needs and opportunities, as well as best practices in sales and distribution. It will be great place to get insights on the industry direction and we are calling on all players to mark their calendar for this event."
Family Takaful is providing huge opportunities for Takaful players. Planning how to best capture this growth, industry leaders are asking key questions: How can Takaful players position themselves to capitalise on new opportunities as markets pick up; how can the Takaful industry engage conventional insurance players; what practical strategies can effectively translate Family market potential to real growth; what innovative new Family Takaful solutions are being developed internationally; sales/marketing - how can Takaful Agents leverage the advantages of a multi-channel organisation; what will be the customer's new experience of the future; communications - how is a strong Family Takaful brand developed and how can it be best leveraged and what is the future outlook for the Re-Takaful market in SE Asia.
Pursuing these key questions will help determine which Takaful players will be best placed to take advantage of strongly increasing product demand based on consumer demographics, rising income levels and an increasing appetite for Shari'ah-compliant products. With huge untapped growth potential in the Islamic insurance industry, the 1st Annual World Takaful Conference: Family Takaful Summit, Malaysia promises to be highly influential in charting the future direction of the Family Takaful industry.
source : Zawya