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Sales Administration Office

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					1.   Introduction
2.   Agency Philosophy
3.   Agency Sales Management
4.   Agency Training And Development
5.   Incentive programmes
6.   Conclusion
VISION

Takaful IKHLAS aspires to be the preferred provider of financial
protection services guided by Islamic principles and values.


MISSION

We are committed to delivering value-added products and quality
services through
   - Competent staff
   - Effective distribution networks, and a
   - Technology, that supports efficient business
   management and innovations
Takaful IKHLAS Background

   Incorporated 18th September, 2002
   Obtained operating license 21st April 2003
   Paid-up Capital – Initial RM100m , Now RM175m
   Owned 100% by MNRB Holding (listed in Bursa
    Malaysia)
   Began operations 2nd July 2003
   Initial Product offering (1 Family and 2 General)
    Now, 77 products ( 35 Family, 32 General)
   More than 350 staff
   Trained more than 3000 agents
   3,813 Individual Family agents,
    1048 general agents, and
    panel of 14 banks
   8 Branches; 2 more branches by September 2008;
    2 customer service centers
   10,000 General certificates,
    4,000 Individual Family certificates,
    3,000 Group Family certificates monthly, and
    More than 900,000 participants
   Average growth rate above 50% over last four years
   2007/2008 Gross Collected Contribution RM428 Million
   Portfolio Mix : Family 75% : General 25%
   21% (RM90m) from Individual family
   To build a PROFESSIONAL agency network
    that is effective in delivering our products
    and quality services to our current and
    potential customers.

   We treat our agencies as our business
    PARTNERS

   Providing a platform to facilitate “EASE OF
    DOING BUSINESS” to our customers and
    business partners.
    Mankind‟s duty is to serve Allah

    „And I (Allah) created not the jinn and mankind except that they should worship Me
     (Alone)„
                                                                    Adh-Dhariyat 51:56


    Islam as a way of Life

     „ O you who believe ! Enter perfectly in Islam (by obeying all the rules and regulation of
     the Islamic religion) and follow not the footsteps of Shaitan (Satan)….‟
                                                                           Al-Baqarah 2:208


    Our Belief

    „ O you who believe! If you help(in the cause of) Allah, He will help you, and make your
      foothold firm‟
                                                                          Muhammad 47:7
      Attributes expected from Agents

    “One is not rich because of being wealthy, but one is truly rich when one is rich in
      behaviour”
                                                       Reported by Bukhari and Muslim

      Al-Tabligh - Missionary

    “ O Messenger (Muhammad SAW)! Proclaim The Message which has been sent down to you
       from your Lord. And if you do not ,then you have not conveyed His Message. Allah will
       protect you from mankind. Verily , Allah will not guide the people who disbelieve”
                                                                    Al-Maidah 5:67

      Al-Amanah – Trustworthy

     “ O you who believe! Betray not Allah and His Messenger , nor betray knowingly your
       Amanat (things entrusted to you, and all the duties that Allah has ordained for you) “
                                                                      Al-Anfal 8:27
     As-Siddiq – Truthful

     “ And mix not truth and falsehood, nor conceal the truth (i.e. Muhammad SAW is Allah‟s
       Messenger and His qualities are written in your scriptures, the Taurat (Torah) and the
       Injeel (Gospel) while you know (the truth) “
                                        Al-Baqarah 2:42
      Al-Fatanah – Wisdom

    “Invite mankind (O Muhammad SAW) to the Way of your Lord(i.e. Islam) with wisdom (i.e.
       with the Divine Revelation and the Quran) and fair preaching, and argue with them in a
       way that is better … “
                                        An-Nahl 16:125
   AGENCY SALES SUPPORT
    (INCLUDING BRANCH SALES SUPPORT)

   AGENCY ADMINISTRATION

   TRAINING
OBJECTIVES:
TO BUILD A STRONG, PROFESSIONAL AND
PRODUCTIVE AGENCY FORCE THROUGH
• STRUCTURED RECRUITMENT,
• STRUCTURED DEVELOPMENT PROGRAMMES,
• AGENCY SUPPORT PROGRAMMES
AT THE HEAD OFFICE AND BRANCHES.
   Agents
 Recruitment                      Motivate Agents         Supervise
                                                          & monitor
                                                           Agencies


                                  AGENCY
I-POS Support                      SALES                          Agency
                                  SUPPORT                         Support




                                                    Advertising
                Sales Promotion
OVERALL ACTIVITIES
   Scheduled meetings with Agencies by Agency Sales Department
    and Branch Staff
     Information Update
     Agency Performance review
     Agency Activity & initiatives Twice a year Agency Business
       Planning
   Monthly meetings with Agency Association
   Annual Award Recognition
   Annual Overseas conventions
   Quarterly Awards at regional level
   National Agency Convention
   Short contest/drives
   Formation of „Model Agent‟s Team‟ adopting BOB, regionally
   Year Round Agency Briefings and Motivational Talks nationwide
   Conduct Takaful Opportunity Programmes for recruitment
    regularly.
1.   Character building
2.   Agency development
3.   Supervision of Agency Force
4.   Motivation of agents
5.   Business Management
OBJECTIVES:
TO SUPPORT AGGRESSIVE RECRUITMENT
AND DEVELOPMENT OF AGENCY THROUGH
• STRUCTURED RECRUITMENT/PROMOTION
 PROCESS
• STRUCTURED PERFORMANCE TRACKING
• ACCURATE AND PROMPT PAYMENT TO
 AGENTS
• EVENT MANAGEMENT
      Tracking                 Agents
        and                    Record         Remuneration
      monitoring
                                              and Payments



                          AGENCY
 Agents                                               Track Agency
                       ADMINISTRATION                   Expenses
Movements




                                        Contest and Drive
            Income reporting
OBJECTIVES:
 Increased productivity to offset the small expense
  margin from Wakalah fee

   Link compensation to agency productivity
       Minimum production incentive for bonus
       Minimum production requirement for fringe benefit
       Successful producers incentives, i.e. pool bonus

   Link compensation to quality, i.e. persistency

   Contest and drives to stimulate production
2 categories:
   Commissions, including bonus
     Commission : Basic & overriding
      6 Years payment period
        High first year commission
        Smaller renewal commissions

     Bonuses
        Production
        Pool
        Persistency
   Agency Related expenses
     Agency Office Maintenance Clerical and Rental
      Allowance
     Business Development Allowance
     Recruitment Bonus
     Awards and Recognitions
     Agency Provident Fund
     GROUP Term Takaful
     Contest and drives
        RECOGNITION
(PERSONAL & GROUP PRODUCTION)
        UMRAH TEHRAN

         KAZAKHSTAN

           CHINA

    BANDUNG – INDONESIA
OBJECTIVES:

   TO DEVELOP A GROUP OF PROFESSIONAL,
    COMPETENT AND EFFECTIVE IKHLAS AGENTS.

   KNOWLEDGEABLE, SKILLFUL AND WELL
    TRAINED IN TAKAFUL AND FINANCIAL PLANNING.

   TO GIVE THE BEST ADVICE TO MEET THE
    CLIENTS‟ NEEDS AND EXPECTATION.
                                    Technical Training
Soft Skill Training




                        AGENCY
                      DEVELOPMENT




                                             Sales Tools
    Training
   Methodology
Technical training covering:
  Islamic Finance
  Islamic Values and Ethics
  Takaful – elements and principles
  Ikhlas Wakalah Model
  Career Induction
  Sales process and techniques
  Product Knowledge
  Investment linked
  Quality Business & persistency
  Basic Agency Management
  Takaful Operations
Soft skills covering:
 - Leadership
 - Team building
 - Sales scripts
 - Advising skills
 - Handling objections
 - Presentation skills


 Sales tools
 - Financial Planning guide
Compulsory Training Programmes




                           AM
                    UM
           AUM
  Agent                    WK1
           WK 1     WK1    CIP
  WK 1     CIP      CIP    PCP
  CIP     DEAS 1    PCP   BAMC
 DEAS 1   DEAS 2   BAMC    TFE
 DEAS 2    AAP
  TAY      TAY
   Expected outcome

    - Increase in number of Agents
    - Improve productivity
    - Improve Persistency
    - Increase in No of Full-Time Agents
               TOTAL CONTRIBUTION GROWTH




Year           2003-04 2004-05 2005-06   2006-07   2007-08
Production       2       17      39        61        90
(RM Million)
                                                     Policy issued


                      6000




                      5000
No of policy issued




                      4000




                      3000




                      2000




                      1000


                                                                                                          2004-05
                        0
                             Apr   May   Jun   Jul    Aug    Sep      Oct   Nov   Dec   Jan   Feb   Mar   2005-06

                                                                                                          2006-07


                                                              Month                                       2007-08

                                                                                                          2008-09
                                    Total Policies Issued 2004-05, 2005-06, 2006-07 & 2007-08

                                                                                          42719
                            45000
                            40000
                                                                             32496
                                                            28866
                            35000
       Number of Policies




                                             25097
                            30000
                            25000
                            20000
                            15000

                            10000
                            5000
                               0
                                        2004-05        2005-06         2006-07        2007-08
                                                            Financial Year



Year                                    2004-05           2005-06              2006-07            2007-08
Production                               25,097            28,866                32,496           42,719
                             Proposal Received 2004 - 2009

                      8000



                      7000
Number of proposals




                      6000

                                                             2004-05
                      5000

                                                             2005-06

                      4000
                                                             2006-07

                      3000
                                                             2007-08


                      2000                                   2008-09



                      1000



                         0




                                                  Month
                                     Total Proposal Received 2004-05, 2005-06, 2006-07 & 2007-08
                                                                                      49861

                             50000
                             45000
                                                                          36337
       Number of proposals




                             40000
                                                         31856
                             35000
                                           27559
                             30000
                             25000
                             20000
                             15000
                             10000
                             5000
                                0
                                        2004-05       2005-06      2006-07         2007-08
                                                         Financial Year




Year                                      2004-05           2005-06               2006-07          2007-08
Production                                  27,559              31,856            36,337           49,861
(Million)
   AGENCY IS A VITAL INTERMEDIARY
    CHANNEL AND IS A KEY STAKEHOLDER
    AND BUSINESS PARTNER

   REWARD PROGRAM INCREASES
    PRODUCTIVITY

   STRUCURED INCENTIVES RESULTS IN
    HIGHER AGENTS RETENTION
JAZAKALLAH
   AND
 THANK YOU

				
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