Difference between revisions of "Agency Management,Training and Incentive Programme"

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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
+
== Top 20 FREQUENT WORDS ==
−
  Incorporated 18th September, 2002
+
agency 29
−
  Obtained operating license 21st April 2003
+
agents 14
−
  Paid-up Capital – Initial RM100m , Now RM175m
+
sales 10
−
  Owned 100% by MNRB Holding (listed in Bursa
+
business 9
−
  Malaysia)
+
allah 8
−
  Began operations 2nd July 2003
+
production 8
−
  Initial Product offering (1 Family and 2 General)
+
takaful 7
−
  Now, 77 products ( 35 Family, 32 General)
+
training 7
−
  More than 350 staff
+
development 6
−
  Trained more than 3000 agents
+
recruitment 6
 +
financial 5
 +
management 5
 +
programmes 5
 +
bonus 4
 +
cip 4
 +
contest 4
 +
deas 4
 +
ikhlas 4
 +
islamic 4
 +
mankind 4
 +
muhammad 4
 +
objectives 4
 +
productivity 4
 +
quality 4
 +
structured 4
  
−
 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
+
== DOCUMENT KEY POINTS ==
−
  that is effective in delivering our products
+
*agency training and development
−
  and quality services to our current and
+
*agency sales management
−
  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
+
*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
−
  ‘And I (Allah) created not the jinn and mankind except that they should worship Me
+
*vision takaful ikhlas aspires to be the preferred provider of financial protection services guided by islamic principles and values
−
    (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
+
*i we treat our agencies as our business partners i providing a platform to facilitate ease of doing business to our customers and business partners
−
  “One is not rich because of being wealthy, but one is truly rich when one is rich in
+
*i to build a professional agency network that is effective in delivering our products and quality services to our current and potential customers
−
      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
+
*i mankind s duty is to serve allah a and i allah created not the jinn and mankind except that they should worship me alone a adh dhariyat i islam as a way of life a 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 a
−
  “ And mix not truth and falsehood, nor conceal the truth (i.e. Muhammad SAW is Allah’s
+
*al baqarah i our belief a o you who believe if you help in the cause of allah he will help you and make your foothold firm muhammad
−
    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
+
*verily allah will not guide the people who disbelieve al maidah i al amanah a 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
−
  (INCLUDING BRANCH SALES SUPPORT)
+
*i 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 i al tabligh missionary o messenger muhammad saw proclaim the message which has been sent down to you from your lord
−
 AGENCY ADMINISTRATION
 
−
 TRAINING
 
  
−
OBJECTIVES:
+
*supervision of agency force
−
TO BUILD A STRONG, PROFESSIONAL AND
+
*motivation of agents
−
PRODUCTIVE AGENCY FORCE THROUGH
 
−
• STRUCTURED RECRUITMENT,
 
−
• STRUCTURED DEVELOPMENT PROGRAMMES,
 
−
• AGENCY SUPPORT PROGRAMMES
 
−
AT THE HEAD OFFICE AND BRANCHES.
 
  
−
    Agents
+
*i to give the best advice to meet the clients needs and expectation
−
  Recruitment                Motivate Agents        Supervise
+
*i knowledgeable skillful and well trained in takaful and financial planning
−
                                                    & 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
+
''Please note, This is an auto generated summary based on sentances position in the document and other factors''
−
2. Agency development
+
== DOCUMENT WORD ANALYSIS ==
−
3. Supervision of Agency Force
+
=== Main Category ===
−
4. Motivation of agents
+
: AlHuda Material\takaful
−
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
+
=== KeyWords ===
−
        and                  Record      Remuneration
+
taka islam insur malaysia productdeferred shariah countries muslim financial retakaful model growth custom partner developed service mutual bankable provided scheme
−
      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
+
== RELATED DOCUMENTS ==
−
   Agency Office Maintenance Clerical and Rental
+
:[[A Review of Takaful by Prof. Khawaja Ahmed Saeed]]
−
    Allowance
+
:[[Agency Management,Training and Incentive Programme]]
−
   Business Development Allowance
+
:[[Audit Issue of Islamic Banking]]
−
   Recruitment Bonus
+
:[[Banca Takaful by Faisal Shahzad Abbassi]]
−
   Awards and Recognitions
+
:[[Best Practices from e- Insurance to e-Takaful by Sami Guello]]
−
   Agency Provident Fund
+
:[[Calculated Risks, Measurable Results]]
−
   GROUP Term Takaful
+
:[[Challenges & Issues Faced by Takaful Industry by Mr. Imtiaz ]]
−
   Contest and drives
+
:[[Co-Operative Insurance and Takaful]]
 +
:[[Current Achievements of Takaful by Dr. S. J Malaikah]]
 +
:[[International Cooperative & Mutual Insurance Federation]]
 +
:[[Islamic Banking And Finance Malaysia’s Experience And Achiev]]
 +
:[[Islamic Finance & Investment Symposium by Sohail Jaffar]]
 +
:[[Islamic Insurance in 21st Century by Ahmad Feizal]]
 +
:[[Islamic Insurance Opertunities and Challenges]]
 +
:[[Issues and Challenges in Retakaful by Azman Ismail]]
 +
:[[Leveraging BancaTakaful as a Key Growth Channel by Mr. Rohai]]
 +
:[[Life Family Takaful by Mr. P Ahmed]]
 +
:[[Micro Insurance Co-Operative and Takaful]]
 +
:[[Micro Takaful by Shabir Patal]]
 +
:[[Microinsurance and Takaful]]
 +
:[[Microinsurance, cooperatives and Takaful]]
 +
:[[MicroTakaful – the way forward by Capt. M. Jamil Akhtar]]
 +
:[[Opertunities in Islamic Insurance]]
 +
:[[Present Scenario and Future Potentials of Takaful by Kazi Md]]
 +
:[[ReTakaful by Rohail Ali Khan]]
 +
:[[Syariah Compliant General Takaful Products by Sami Guellouz]]
 +
:[[Takaful and Mutuality by Mohd. Masua Billah]]
 +
:[[Takaful by Abdul Rahim]]
 +
:[[Takaful for Microfinance]]
 +
:[[Takaful Opperunities and Challenges By Azeem Pirani]]
 +
:[[Takaful Products Family Takaful Linked Investment Plans by S]]
 +
:[[Takaful World Prospective Middle East & North Africa]]
 +
:[[Takaful]]
 +
:[[Takful - Zubair Mughal]]
 +
:[[Takful Report]]
 +
:[[The Islamic Vision Presentation]]
 +
:[[The Success of Retakaful by Farid Benbouzid]]
  
−
        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
+
== DOCUMENT REFERENCES ==
−
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:
+
=== Number of Pages ===
−
- Leadership
+
34
−
- 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
+
=== Published Date ===
−
  - Increase in number of Agents
+
2016-09-17 01:17:16
−
  - 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
+
== Full Document ==
−
                      6000
 
−
                      5000
 
−
No of policy issued
 
−
                      4000
 
−
                      3000
 
−
                      2000
 
−
                      1000
 
−
                                                                                                          05-2004
 
−
                        0
 
−
                            Apr  May  Jun  Jul    Aug    Sep      Oct  Nov  Dec  Jan  Feb  Mar  06-2005
 
−
                                                                                                          07-2006
 
−
                                                              Month                                      08-2007
 
−
                                                                                                          09-2008
 
  
−
                                    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
+
[https://www.hodhood.com/en/HodHoodDocuments/IslamicFinance/Takaful/Agency%20Management,Training%20and%20Incentive%20Programme.pdf Read the Full Document]
−
                      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
+
[[Category:Islamic Finance]]
−
  CHANNEL AND IS A KEY STAKEHOLDER
 
−
  AND BUSINESS PARTNER
 
−
 REWARD PROGRAM INCREASES
 
−
  PRODUCTIVITY
 
−
 STRUCURED INCENTIVES RESULTS IN
 
−
  HIGHER AGENTS RETENTION
 
  
−
JAZAKALLAH
+
[[Category: Takaful]]
−
  AND
 
−
THANK YOU
 

Latest revision as of 05:06, 10 November 2017


Top 20 FREQUENT WORDS

agency 29 agents 14 sales 10 business 9 allah 8 production 8 takaful 7 training 7 development 6 recruitment 6 financial 5 management 5 programmes 5 bonus 4 cip 4 contest 4 deas 4 ikhlas 4 islamic 4 mankind 4 muhammad 4 objectives 4 productivity 4 quality 4 structured 4


DOCUMENT KEY POINTS

  • agency training and development
  • agency sales management
  • 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
  • vision takaful ikhlas aspires to be the preferred provider of financial protection services guided by islamic principles and values
  • i we treat our agencies as our business partners i providing a platform to facilitate ease of doing business to our customers and business partners
  • i to build a professional agency network that is effective in delivering our products and quality services to our current and potential customers
  • i mankind s duty is to serve allah a and i allah created not the jinn and mankind except that they should worship me alone a adh dhariyat i islam as a way of life a 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 a
  • al baqarah i our belief a o you who believe if you help in the cause of allah he will help you and make your foothold firm muhammad
  • verily allah will not guide the people who disbelieve al maidah i al amanah a 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
  • i 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 i al tabligh missionary o messenger muhammad saw proclaim the message which has been sent down to you from your lord
  • supervision of agency force
  • motivation of agents
  • i to give the best advice to meet the clients needs and expectation
  • i knowledgeable skillful and well trained in takaful and financial planning


Please note, This is an auto generated summary based on sentances position in the document and other factors

DOCUMENT WORD ANALYSIS

Main Category

AlHuda Material\takaful


KeyWords

taka islam insur malaysia productdeferred shariah countries muslim financial retakaful model growth custom partner developed service mutual bankable provided scheme


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DOCUMENT REFERENCES

Number of Pages

34


Published Date

2016-09-17 01:17:16


Full Document

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