Corporate Presentation
Dar Al Takaful
• Dar Al Takaful PJSC was established
in 2008 with a paid up capital of AED
100 Million
• Listed in Dubai Financial Market
(DFM)
• Promoter and major shareholder is
Mawarid Finance (an AED 1bn
capitalized Islamic Finance Company)
Mission and Vision
Mission
To deliver innovative Takaful products
and value-added services built on
sustainable lasting relationships within
a Shariah compliant framework.
Vision
To be a leading Takaful company
providing beneficial Takaful solutions to
the public, supported by a solid
financial foundation.
Board of Directors
Major General
Abdulaziz Al Bannai (Rtd.)
Chairman
Saleh Al Hashimi
Managing Director
Ali Humaid Al Owais
Member
Salah Ibrahim
Sharaf
Member
Yagub Bin Eisa Bin
Nasser Al Serkal
Member
Osama Ibrahim
Siddiqi Member
Shehab Lutfi
Member
Fatwa and Sharia
Supervisory Board
The Management
Saleh AlHashimi (Managing Director)
More than 16 years of experience in various
managerial/ senior management positions - National
Bank of Dubai (now Emirates NBD) in various
positions; 5 years in Mawarid Finance (Founder, Board
Member & Dy. CEO/Co-Managing Director)
Abdul Salam Ali (Chief Finance Officer)
More than
32 years of experience in various
managerial/Senior Management positions - Oman
Insurance, Leader Capital; Al Rajhi Takaful
K.G.Rajaram (Senior Vice President - Retakaful
& Corporate Strategy)
More than 35 years of experience in Technical/TechnoMarketing – New India Assurance, General Accident –
Commercial General Union, RSA, NGI , AMGI, OQIC,
Muscat
The Management
Ajai Kumar Panicker (Senior Vice President –
Technical)
More than 30 years in the Insurance Industry in
Managerial/Senior Management positions - Methaq
Takaful, Axa Insurance, Allianz Saudi Fransi, Gulf Union
Insurance & Reinsurance Co., National
Insurance Co.
Ayman Lidawi (Head of Sales)
A well qualified and seasoned professional with a total of 14
Years Experience in insurance industry in Dubai - Al Fujairah
National Insurance & Dubai Islamic Insurance & Reinsurance
Co. (AMAN)
Dr. Beena Nair (Head – Medical Insurance)
Over sixteen year’s experience in leading the Medical & Life
Insurance business at Arabian Scandinavian Insurance Co.,
PLC ,Dubai Involved in all facets of the business including
Business Development, Reinsurance, Underwriting , Claims
and Network Management.
Takaful Model
Our Takaful Model combines Wakala (for underwriting) and
Mudharaba (for investments)
Participant (Insured)
Net Contribution (premium)
Benefits
(Claims)
Reinsurance
Wakala Fee
(as % of contribution)
Investments
Participant’s
Fund
Investment
profits
Reserves
Surplus
or Deficit
Performanc
e fee
(Mudabarah
)
Shareholders’
Fund
If deficit in Participant
Takaful Fund: Takaful
Operator makes Interest Free
Loan (repaid
by future surplus)
Participant Takaful Fund
14
Manages the
Participant
Takaful Fund
Management
Expenses
Takaful Operator
(Dar Al Takaful)
Dar Al Takaful’s Strength
• Managed by a team of professionals
with wealth of experience
• Backed by highly rated Re-Takaful
companies
• A robust, market tested, IT System
• Well diversified distribution channels
• Tailor made products
Managed by a team of
professionals with wealth
of experience
• Underwriting Guidelines
• Policies and Procedures
• Risk Management Approach – Pre Risk
Surveys
Underwriting
• Highly Analytical and Actuarial Approach to
Motor & Medical Underwriting
• Motor Tariff Factors – Sum Insured, Age of
Driver, Driving Experience, Vehicle Make,
Model and Age, Nationality, Repair
Condition.
Backed by highly rated ReTakaful companies
Panel of Reinsurers, among others, include:
•
GIC of India - Rated A-(Excellent) by A.M. Best
•
SCOR – Rated A+ by S & P
•
Hannover Re – Rated AA- (Very Strong) by S & P,
A+ (Superior) by A.M. Best
Backed by highly rated ReTakaful companies
•
R+V, Germany – Rated AA- by S & P
•
Generali, Italy – Rated A by A.M. Best
•
Munich Re – Rated A+ by A.M. Best, AA- by S & P
•
Partner Re – Rated A- by S & P
•
Sirius, London – Rated A by A.M. Best
•
Lloyd’s of London – Kiln Syndicate – Rated A+ by
A.M. Best
A robust, market tested, IT
System
e-Bab
State of the art online portal – e-Bab
•
For various channels like B2B (Brokers, agents,
banks, rent a car companies, affinity groups, car
dealers, fleet clients)
•
B2C (Direct Customers)
•
In House employees
•
It facilitates high level of automation of
underwriting process for various products
enhancing overall efficiency and productivity
A robust, market tested, IT
System
•
Customised Schemes for Corporate clients
•
Referral and Secondary Tariff facilities.
•
Facility for Non-Financial Endorsements.
•
Facility to print policy related documents for all
kinds of Policies and Endorsements.
•
Online Portal –
e-Bab
Promotion for Free Travel Policies along with
Motor policies and discount for Motor policies.
•
Facility for Endorsements request and Claims
intimation.
•
Vehicle details query from Traffic systems.
•
Emails facility for alerting customers on important
events related to Quotations\Policy.
A robust, market tested, IT
System
A robust, market tested, IT
System
•
•
•
IT Strength and Capabilities
•
•
•
•
•
Robust and fully Integrated Core system Premia
to allow seamless flow of information across
enterprise.
Robust and fully Integrated Core system Premia
to allow seamless flow of information across
enterprise.
A State of the art Data Center which is
supporting 5 branches.
Highly Secured Network
About to roll out a Mobile App for providing B2C
services to Clients through Mobile
Currently implementing a full fledged Call Center
for better Customer Servicing
Adopting the best Practices in the IT industry to
provide high quality IT services
Having the best IT Policies & Procedures in place
A robust, market tested, IT
System
•
Products with end to end Quotation/Policy issuance
facility with automated tariff are :
•
Motor Comprehensive and TPL Products.
•
Premium Motor takaful for high value vehicles.
•
Tailor made Schemes for various Brokers and
IT Strength and Capabilities
Corporate Clients.
•
Standard Travel (Terhal) and Hajj & Umrah.
•
Marine Individual and Certificates.
•
Home Contents.
•
SME (Six variants)
A Wide Array of
Products
•
•
•
•
•
•
•
•
•
•
•
•
•
•
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Motor Vehicle Takaful
Medical Takaful
Fire & Property Takaful
Homeowners & Householder’s Takaful
Marine cargo & Inland Transit
Marine Hull Takaful
Workmen Compensation Takaful
Employer’s Liability Takaful
Contractors All Risk Takaful
Erection All Risk Takaful
Public Liability Takaful
Personal Accident Takaful (Group & Ind)
Travel Takaful
Electronic Equipment Takaful
Money Takaful
A Wide Array of
Products
Motor Takaful - Tailor Made
Products
•
Al Masa
• General Cartage
•
Mumtaz
• Rental
•
Khaas
• Trade Plate
•
Third Party Liability
•
TPL, Fire & Theft
•
Motor Fleet
•
Motor Schemes
•
Commercial
•
Corporate
• Motor Campaigns
Motor Takaful
Platforms
•
Motor Quick quote (B2C) from company website.
•
eBab (B2B) for Brokers and Agents
•
Premia (core – back office)
•
Mobile Application
Dar Al Takaful’s
Major Clients
Al Owais Group, Al Serkal Group ,Mustafa bin Abdullatif,
Abdulsalam Al Rafi Group, Sheikh Mohammed bin Rashid
Housing Program, Al Rais Group and more …
Claim Service – At
customers service
Dar Al Takaful’s Claims Department is equipped to
handle customer’s claim requirements with
care, professionalism and in a timely manner.
The Claims Center located in the heart of the
city in Al Khaimah Building, Deira.
Our staff with vast knowledge of claims
servicing and in the Takaful industry and
UAE markets.
Thank you
800-Takaful
www.dat.ae