Big Takaful Market and Blue Ocean Strategy…

Add a comment June 26th, 2008

I read The Star Business Section on my Newsgator Go! this morning and found two news about insurance and takaful. One is taking about Etiqa Takaful wants to raise life/insurance awareness and another is about Takaful Ikhlas vision on Pahang. Both attracted me quite a lot.

Firstly, on the Etiqa, the CEO said

The takaful segment currently comprises about 7% of the overall insurance industry. With better awareness, we can grow the segment.

“We would like the segment to be at the same level where conventional insurance is today,” Tarmidzi said, adding that the penetration rate for conventional insurance in Malaysia was 40% currently

Wow! You see… How big takaful market in Malaysia. Last time we got four takaful companies and now we added another six including Prudential BSN Takaful. And the market is still big to captured. With takaful products become more comprehensive including medical benefit, I look forward to have more sales and more recruit to doing takaful business.

Secondly, what were you saw about Takaful Ikhlas movement and strategy? Its about blue ocean strategy. Now the company look takaful market outside Klang Valley and still big and fresh with the branch founded. The company bravely invested for blue ocean market. Luckyly, we have started earlier and now harvesting.

What we doing now is determined what we get later. In business, the most important thing is how you look about the future.

What a beautiful life and beautiful business!

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