Page 90 - Full Book_24.4.2021

MANAGEMENT

DISCUSSION & ANAlYSIS

Moving Forward
There will be intensified
Takaful Malaysia has been taking necessary and thoughtful steps to strengthen
its business resilience and adjust its operating models in managing the business focus on the digital
in a very different market and dynamic operating landscape. Catalysed by ethical agenda by the
investment strategy and programmes, substantial growth opportunities, rising
levels of awareness and high market competition, as well as stable demand introduction of innovative
INTEGRATED ANNUAL REPORT 2020 penetration rate. solutions, increased
in the Islamic banking and finance sector, the takaful sector is set to sustain
online protection
market growth, given the forecast of resilient private consumption and low
distribution capabilities,
Moving forward towards 2021, there will be intensified focus on the digital
agenda by the introduction of innovative online protection solutions, increased
strategic collaborations
distribution capabilities, strategic collaborations with leading Islamic financial
institutions, implementation of investor relations programmes and advanced
marketing strategies to strengthen Takaful Malaysia’s brand-building efforts. with leading Islamic
financial institutions,
86 Takaful Malaysia remains vigilant and cautious in managing operating costs, implementation of
supervising the balance sheet, business growth, and portfolio risk. The company
intends to execute business penetration and retention strategy as a professional investor relations
and leading Employee Benefits (“EB”) takaful solution provider in managing
programmes and
BIMB HOLDINGS BERHAD 199701008362 (423858-X) increase in market penetration for motor and non-motor product portfolios. strategies to strengthen
medical costs with across-the-board value-added services, while adopting a
advanced marketing
long-term approach to further elevate the General Takaful business growth and
Takaful Malaysia’s
The ultimate goal is to outpace the market and firmly be established as the
preferred choice for protection amongst the consumers, further expand market
brand-building efforts.
reach and be an industry-leading Islamic insurance company not just amongst
Takaful operators but even across the conventional insurance providers.
Therefore, Takaful Malaysia will continue to pursue the highest levels of
excellence and set new standards to inspire innovation in the industry, empower
its clientele and improve customer experience.