FWD Takaful Berhad (“FWD Takaful”) officially launched its brand today and introduced its vision to change the way people feel about Takaful. Marking FWD Group’s (“FWD”) ninth market in just five years, the brand will leverage FWD’s strength and expertise in the insurance and protection business to cement its position locally as a family Takaful operator, offering innovative and easy-to-understand products and a straightforward approach to claims.
Official guest of honour Malaysia’s Minister of Finance, YB Tuan Lim Guan Eng said, “The entry of FWD Takaful into the Malaysian market certainly bodes well for the local insurance and takaful industry; as it will provide Malaysians with more competitive choices of Takaful plans for themselves and their families, and reflects the growth potential of Malaysia’s Takaful industry. This is also in line with the government’s commitment to assist Malaysian households to become more financially resilient through insurance and takaful protection.”
"We need to raise awareness of the benefits of Takaful protection for Malaysians so that they would not be burdened by the uncertainty of future unfortunate circumstances. We hope to realize the national agenda for the national insurance penetration rate to breach 75% in 2020." Lim Guan Eng, Finance Minister of Malaysia.
Lim Guan Eng went on to say that FWD Takaful’s aim to foster digitally-enabled relationships with customers is a great way for Malaysia to be at the forefront of this movement. By encouraging and introducing digital products, it adds to a collective effort that will help the transformation towards digitalization of our Malaysian economy.
Meanwhile, Salim Majid Zain, CEO of FWD Takaful said FWD Takaful pride ourselves in taking a customer-led approach and aim to provide easy access to innovative family Takaful products to all Malaysians. We want to defy industry norms and create fresh customer experiences, supported by digital technology.
FWD Takaful wants to enhance Malaysians’ access to a wider selection of products through multiple distribution channels and different coverage options to support Bank Negara Malaysia’s efforts to increase awareness.
"We are confident in the long-term growth potential of the Takaful industry in Malaysia, as our nation continues to be one of the leading global hubs for Islamic finance. Takaful, Islamic banking and the Islamic capital market is built on a strong and comprehensive Islamic financial system with a solid regulatory regime and legal framework here. For that reason, we’re positive that this will be the cornerstone in ensuring the success of our operations here in Malaysia." he said.
FWD Takaful wants to enhance Malaysians’ access to a wider selection of products through multiple distribution channels and different coverage options to support Bank Negara Malaysia’s efforts to increase awareness.
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