etiqa humanizing takaful

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Humaniz ing TakafulEthical Positioning In Takaful

(By Way Of Humanizing

Takaful)

5 May, 2009ICMIF Takaful Network MeetingBahrain

By:Shahril Azuar Jimin

Chief Sales OfficerEtiqa Insurance & Takaful


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Overview


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The concept of Business Ethics

Business ethics is the application of ethical values to the business world.It applies to any and all aspects of business conduct. Business ethics isrelevant to the conduct of individuals and also relevant to the conduct ofthe business organizations as a whole.

Ethics does not mean any moral discourses but is used as a word thatdescribes complex interdependence of culture, religion society and

business.

This interdependence results in various undisclosed but yet very clearset of pattern and behaviors of the society that lead to the acceptance orrejection of a concept.


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The rise of Ethical Businesses, amidst the global crisis.

Interest in business ethics accelerated dramatically during the 1980s and1990s, both within major corporations and within academia. Today, mostmajor corporate websites lay emphasis on commitment to promotingnon-economic social values under a variety of headings.

Principal role of ethics seen as the harmonization and reconciliation ofconflicting interests, to balance overlaps, ie. shareholders vs.stakeholders.

Emergence of a socialcontractapproach to business, although criticssay the proponents of contract theories miss a central point, namely, thata business is someone's property and not a mini-state or a means ofdistributing social justice.

Globalization has accelerated the need for ethical positioning, taking into

account varying global standards, with religious and culturalperspectives.


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.. with opportunity for Islamic finance to seize the day

The global crisis has put Islamic finance in the spotlight. Islamicinvestments, before this seen as defensive,emerges unscathed havingexcluded the troubled banking and financial industry, and filtered outhighly leveraged companies in any industry.

Total Islamic funds AUM about US$34 billion, a growth of 44% in 2007,

with appeal now beyond the Muslim population, attracting those drawn tothe ethics and principles that form the basis of those funds.

Growing comments suggesting the use of Islamic finance as part ofsolution to restore confidence n the global financial system.


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Ethical Positioning and Corporate Reputation

Besides being legal, a good brand should also display ethical values.

Thus, brand values needs to be assessed by both financial and ethical measuresas brands and branding have such a profound impact on the society as whole andnot just on these people who buy them.

There is a wider public, in addition to shareholders and consumers, who may bepotentially affected by the branding decisions.

As such, an ethical positioning enhances the companys reputation; such areputation reinforces the brand in turn.

Ethical positioning could provide the company with a differential advantage as agrowing number of consumers become more ethically conscious, but also a rise ofmisuse of corporate ethics policies as marketing instruments


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Measurement of a corporations ethical values

The Etishphere approach : ethical

companies use ethical leadership as apurposeful method to drive profits.


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Ethical positioning in Etiqa by way of

humanizing Takaful


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Why the name Etiqa?

Following the merger of 3 insurance and takaful groups beginning end2005, the most important part about creating and choosing the namewas to have it reflect in the brand promise, HumanizingTakaful.

How does our name fulfil this requirement?The name Etiqa is inspired by the word ethics (English) and

etika(Malay).

It is defined as a system of moral principles and standardspractised by a particular group.

Behaving in an ethical manner is to behave in a more considerate andhumane way. This is how the company attempt to humanize takaful foreveryone inside and outside the organization.


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Top Management

Etiqa set new standards for the industry

We will role-mo del The Etiqa Way for our

staff, in our daily actions and words

Employees

I see my managers walk the talk

I believe in the vision, and will HumanizeTakaful in all my interactions withcustomers, channels and colleagues

Agents, FEs and Channels Etiqa means what it says and says what it

means; It is delivering on its promises

I believe that Etiqa will deliver best-in-classproducts and services

Customers

I am getting best services from Etiqa

Etiqa means accessibi l i ty, hassle-freeand human touch

We are guided by The Etiqa Way


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following the Islamic principleBasis of Co-operation

Basis of Respons ibi l i ty

Basis of Mutual Protection


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Humanizing Takafulits about People not policies

How Etiqa attributes contributes to Humanizing Takaful

Performance with Conscience

Crystal Clear

Hand-in-Hand

Rock Solid

there is care in what we do

we like to keep things clear

we have a firm foundation to build on

with diversity we create opportunity


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Our Promise (1/2)

Humaniz ing Takaful

Car theft claims:

Settlement within

30 days

Call Center UW:

Cover readybefore you hang

up

Small value claims:

No documentation

needed for 1sttime

claim below RM

2,000

Funeral expenses:

RM 1,000 disbursedimmediately for

funeral expenses

SME claims:

10% claims advance

for fire, flood,

burglary, accidental

death


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Our Promise (2/2)

Humaniz ing Takaful

Name Queuing

System:

No numbers required.

Name will be call upon

when ready.

Etiqa Oneline:

One Contact Centre

for customers.

Purchase your takaful

from home or office.

No forms, no hassles.

Paperless Motor

Waiver of motor

proposal form

Interactive Voice

Recording (IVR)

Abolishment of IVR

system at our contact

centre


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Corporate Zakat Responsibilities (CZR) is a program that provides the opportunity to thetarget group to experience activities that they may not have experienced like other people,

especially those with family. It also aims to provide an avenue for the target group to buildrelationships with the external community and Etiqa staff.

This program is a close collaboration with staff and local vicinities.

Activities to Humanize Takaful

Hand in Hand: Community Service by Etiqa staff


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CZR Program Calendar

Etiqa Takaful Planner

2007 / 2008

Pertubuhan Al-KhaademBackground:-Social service organization consists ofmuallaf, orphans, battered women, singlemothers and elderly, abandoned childrenand the needy local and international.Programme by Etiqa:-Official launch, motivational talk, coloringcontest, experience sharing, visit Home ofHope and interactive session

September 07

Yayasan Kebajikan SuriaBackground:-Orphanage HomeProgramme by Etiqa:-Official launch, motivational talk, visit tonew Musolla, interactive session

January 08

Tahfiz Darul FurqanBackground:-School/Centre for Islamic knowledge forfuqara, masakin (poor), ibn sabil, orphansand publicProgramme by Etiqa:-Official launch, motivational talk, gotongroyong, visit to new additional classroomblock, interactive session

February 08

April 08

Madrasah Al-AminiahBackground:-School/Centre for Islamic knowledge forfuqara, masakin (poor), ibn sabil, orphanslocal/internationalProgramme by Etiqa:-Official launch, motivational talk, visit tonew additional classroom block, interactivesession

27 Fuqara & masakin viaBaitulmalBackground:-27 fuqara & masakin (poor) via BaitulmalNegeri PerlisProgramme by Etiqa:-Official launch, motivational talk, BaktiEtiqa (visit to the recipients houses),interactive session, football, sepak takrawmatch

June 08

CZR P C l d


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CZR Program Calendar

Etiqa Takaful Planner

2008 / 2009

Rumah Anak Yatim Darul IzzahBackground:-Orphanage HomeBuild Mosque/ Islamic Activity Centre

Programme by Etiqa:-Official launch, motivational talk, indoor games, performance by students andinteractive session.

April 09

Pusat Jagaan Anak Yatim Dan Miskin Nurul Iman

Background:-Orphanage Home

Programme by Etiqa:-Official speeches, Officiate building & hostel, Giveaway of school supplies to theorphans, Performance from Students, Health talk for students and single mother,Cooking class

May 09

Madrasah Annuriah Paya Rumput Melaka

Background:-School/Centre for Islamic knowledge for fuqara, masakin (poor), ibn sabil, orphansand public

Programme by Etiqa:-Official speeches, Officiate handing over (Van, Computers & Sewing Machines),Giveaway of school supplies to the orphans, Performance from Students, Health talk(personal hygiene) for students, Indoor games (Scrabble, quiz), Outdoor games,Motivational Talks

June 09


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Conclusion


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Conclusion

Pooling of resources to help the

unfortunate few

The Etiqa Way to humanize our core

business to make it easier for our

clients and customers

Basics of the

Bus iness:

Being clear and transparent allthe time

We are guided

by..

Recogniz ing

our customers

and cl ients:


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etiqa humanizing takaful

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