Takaful Ehsan eyes 10pc of takaful industry

KUALA LUMPUR: ING PUBLIC Takaful Ehsan Bhd (Takaful Ehsan) is eyeing a
10 per cent market share of the takaful industry by 2015 from the
current two per cent.

Its chief executive officer Saiful Yazan
Ahmad said today that the companyplans to boost its banca takaful
segment by tying up with two more banks and increasing the number of
agents to 1,500 this year.

Incorporated in March 2011, the
takaful operator has 300 agents at present,and has tied-up with Public
Islamic Bank to distribute its products.

"Last year, we focused on banca takaful and it was good, with an estimated total contribution of RM15 million.

"This
year, we want to focus on the retail business, and have target the
total contribution from this segment to be RM23 million," Saiful told
reporters after launching the Investment-Linked Takaful Medical Rider
(ILT-Med) here.

Saiful expects to secure 28,000 new policy
holders via its banca takaful channel and 14,000 from the agency retail
segment by year-end.

The ILT-Med launch is the fifth product
rider introduced by Takaful Ehsan to join the family Takaful company's
stable of offerings.

It has at present 71 hospitals on its panel
and the company hopes to secure more hospitals in the coming months,
preferably one in every major city and town in Malaysia. "With
healthcare cost on the rise because of medical inflation and the growing
prevalence of lifestyle diseases, the need for a decent medical cover
is crucial for a family's well-being," he said.

The product
offers customers new various new benefits, including an entry age of up
to 65 years, cashless hospital administration and a No Claim Bonus of up
to RM400. -- BERNAMA