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 • • • • • • • • • • • • • • • 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