How Can Robo Advisors Boost Your Takaful Insurance Business?
๐๐๐ค๐๐๐ฎ๐ฅ ๐๐ง๐ฌ๐ฎ๐ซ๐๐ง๐๐
๐๐จ๐ฐ ๐๐๐ง ๐๐จ๐๐จ ๐๐๐ฏ๐ข๐ฌ๐จ๐ซ๐ฌ ๐๐จ๐จ๐ฌ๐ญ ๐๐จ๐ฎ๐ซ ๐๐๐ค๐๐๐ฎ๐ฅ ๐๐ง๐ฌ๐ฎ๐ซ๐๐ง๐๐ ๐๐ฎ๐ฌ๐ข๐ง๐๐ฌ๐ฌ?
๐๐๐ฒ ๐ญ๐๐ค๐๐๐ฐ๐๐ฒ๐ฌ:
โ ๐๐ง๐ญ๐ซ๐จ๐๐ฎ๐๐ญ๐ข๐จ๐ง ๐ญ๐จ ๐ญ๐๐ค๐๐๐ฎ๐ฅ ๐ข๐ง๐ฌ๐ฎ๐ซ๐๐ง๐๐
โ ๐๐๐ฏ๐๐ง๐ญ๐๐ ๐๐ฌ ๐จ๐ ๐๐ ๐๐ง๐ ๐๐จ๐๐จ ๐๐๐ฏ๐ข๐ฌ๐จ๐ซ๐ฌ ๐๐จ๐ซ ๐ญ๐ก๐ ๐ญ๐๐ค๐๐๐ฎ๐ฅ ๐ข๐ง๐ฌ๐ฎ๐ซ๐๐ง๐๐ ๐ข๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ
โ ๐๐๐๐๐ง๐ญ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ๐ฌ ๐ข๐ง ๐ญ๐ก๐ ๐ข๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ
๐๐ก๐๐ญ ๐ข๐ฌ ๐ญ๐๐ค๐๐๐ฎ๐ฅ ๐ข๐ง๐ฌ๐ฎ๐ซ๐๐ง๐๐?
"Takaful" insurance, offered by Islamic banks, safeguards against potential risks concerning properties, health, employment, and income. The key difference between conventional insurance and "Takaful" insurance lies in the concept of uncertainty or "Gharar" in Sharia terminology. Takaful Insurance operates on the principles of solidarity and collective contribution among groups of individuals. Each member contributes a specified sum of money into a shared financial pool.
๐๐ซ๐จ๐ฐ๐ฌ๐ ๐ ๐ฎ๐ฅ๐ฅ ๐๐๐ฉ๐จ๐ซ๐ญ: ๐ก๐ญ๐ญ๐ฉ๐ฌ://๐ฐ๐ฐ๐ฐ.๐๐ฅ๐ฅ๐ข๐๐๐ฆ๐๐ซ๐ค๐๐ญ๐ซ๐๐ฌ๐๐๐ซ๐๐ก.๐๐จ๐ฆ/๐ญ๐๐ค๐๐๐ฎ๐ฅ-๐ข๐ง๐ฌ๐ฎ๐ซ๐๐ง๐๐-๐ฆ๐๐ซ๐ค๐๐ญ-๐11835
๐๐จ๐ฐ ๐๐ซ๐ ๐๐ ๐๐ง๐ ๐๐จ๐๐จ ๐๐๐ฏ๐ข๐ฌ๐จ๐ซ๐ฌ ๐ญ๐ซ๐๐ง๐ฌ๐๐จ๐ซ๐ฆ๐ข๐ง๐ ๐ญ๐ก๐ ๐ญ๐๐ค๐๐๐ฎ๐ฅ ๐ข๐ง๐ฌ๐ฎ๐ซ๐๐ง๐๐ ๐ฌ๐๐๐ญ๐จ๐ซ?
Robo-advisors ( https://www.alliedmarketresearch.com/robo-advisory-market) can serve as an efficient cost-saving tool for Takaful Operators (TOs). With the capacity to scale globally, AI-driven robo-advisors possess the potential to offer higher-quality and more accessible financial advice to a larger audience at reduced costs compared to human financial advisors. Additionally, these robo-advisors can dynamically respond to behavioral changes and accommodate evolving needs by leveraging algorithms that facilitate adaptability.
๐๐๐ฃ๐๐๐ญ๐ข๐ฏ๐ข๐ญ๐ฒ:
Utilizing algorithms enables investment recommendations to rely on financial methodologies, eliminating the inherent behavioral biases of human advisors. This leads to impartial recommendations for clients. Automated advisors, powered by complex algorithms, can customize appropriate insurance policies based on the risk tolerance and financial background of each customer.
This not only assists potential customers in discovering the most fitting takaful plans but also enables takaful operators to interact with customers across various locations simultaneously, without any conflicts of interest.
๐๐๐๐ข๐๐ข๐๐ง๐๐ฒ:
Interactions between insurance agents and clients tend to be time-consuming. In a traditional face-to-face setup, individual financial advisors are typically limited in the number of clients they can manage. On the contrary, a robo-advisor can cater to multiple clients simultaneously. Unlike human agents, restricted to handling one communication at a time, a robo-advisor operates in a multitasking mode. This capacity can significantly enhance efficiency within takaful operations, as it can concurrently manage various tasks including product inquiries, claim setups/inquiries, product advisory through FAQs, endorsement requests, policy renewals, and other related functions.
๐๐จ๐ง๐ฏ๐๐ง๐ข๐๐ง๐๐:
Robo-advisory services cater to clients with limited time or lacking access to fund managers who often charge high fees for creating investment portfolios. Unlike human agents who adhere to specific working hours, robo-advisors are available to respond to customer inquiries instantly. These services are delivered to consumers with minimal or no human involvement, as takaful operators primarily rely on computer-based algorithms for robo-advisory solutions.
๐๐จ๐ฐ ๐๐ซ๐ ๐ญ๐จ๐ฉ ๐๐ง๐ญ๐ข๐ญ๐ข๐๐ฌ ๐ฌ๐ฎ๐ฌ๐ญ๐๐ข๐ง๐ข๐ง๐ ๐ญ๐ก๐ ๐ก๐ข๐ ๐ก๐ฅ๐ฒ ๐๐จ๐ฆ๐ฉ๐๐ญ๐ข๐ญ๐ข๐ฏ๐ ๐ข๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ?
The global takaful insurance industry is dynamic, and frontrunners are implementing novel strategies to sustain the highly competitive industry. These strategies involve mergers, collaborations, acquisitions, new product launches, and partnerships.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ: ๐ก๐ญ๐ญ๐ฉ๐ฌ://๐ฐ๐ฐ๐ฐ.๐๐ฅ๐ฅ๐ข๐๐๐ฆ๐๐ซ๐ค๐๐ญ๐ซ๐๐ฌ๐๐๐ซ๐๐ก.๐๐จ๐ฆ/๐ซ๐๐ช๐ฎ๐๐ฌ๐ญ-๐ฌ๐๐ฆ๐ฉ๐ฅ๐/12200
Oyen and Zurich MY have launched takaful insurance plans specifically for cats
Zurich Malaysia (Zurich), an insurance group, has partnered with Oyen, a Malaysian digital-first pet insurance platform, to launch a cat takaful product named "Oyen Takaful Kucing." This new product aims to meet the rising need for takaful pet coverage.
In adherence to Shariah principles, this coverage plan embodies Islamic values such as mutual protection and shared responsibility. It provides extensive coverage for unexpected veterinary expenses caused by illness or injury in ๐ฉ๐๐ญ ( ๐ก๐ญ๐ญ๐ฉ๐ฌ://๐ฐ๐ฐ๐ฐ.๐๐ฅ๐ฅ๐ข๐๐๐ฆ๐๐ซ๐ค๐๐ญ๐ซ๐๐ฌ๐๐๐ซ๐๐ก.๐๐จ๐ฆ/๐ฉ๐๐ญ-๐ข๐ง๐ฌ๐ฎ๐ซ๐๐ง๐๐-๐ฆ๐๐ซ๐ค๐๐ญ) cats.
๐๐ฎ๐ฆ๐ฆ๐ข๐ง๐ ๐ฎ๐ฉ:
The global takaful insurance industry is gaining momentum due to advantages such as ๐ฉ๐ซ๐๐ฆ๐ข๐ฎ๐ฆ (๐ก๐ญ๐ญ๐ฉ๐ฌ://๐ฐ๐ฐ๐ฐ.๐๐ฅ๐ฅ๐ข๐๐๐ฆ๐๐ซ๐ค๐๐ญ๐ซ๐๐ฌ๐๐๐ซ๐๐ก.๐๐จ๐ฆ/๐ฉ๐ซ๐๐ฆ๐ข๐ฎ๐ฆ-๐๐ข๐ง๐๐ง๐๐-๐ฆ๐๐ซ๐ค๐๐ญ-๐15358) amount refunds, distribution of investment profits among both participants, and a surge in demand for takaful insurance among Muslim-majority countries. And it is anticipated to grow even higher in the future.
To gain a deeper understanding of the ever-evolving Takaful Insurance field and explore how your company can benefit from the opportunities it presents, reach out to us.
