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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 theorph

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