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| − | 1. Introduction
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| − | 2. Agency Philosophy
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| − | 3. Agency Sales Management
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| − | 4. Agency Training And Development
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| − | 5. Incentive programmes
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| − | 6. Conclusion
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| − |
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| − | VISION
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| − | Takaful IKHLAS aspires to be the preferred provider of financial
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| − | protection services guided by Islamic principles and values.
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| − | MISSION
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| − | We are committed to delivering value-added products and quality
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| − | services through
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| − | - Competent staff
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| − | - Effective distribution networks, and a
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| − | - Technology, that supports efficient business
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| − | management and innovations
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| − |
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| − | Takaful IKHLAS Background
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| − | Incorporated 18th September, 2002
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| − | Obtained operating license 21st April 2003
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| − | Paid-up Capital – Initial RM100m , Now RM175m
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| − | Owned 100% by MNRB Holding (listed in Bursa
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| − | Malaysia)
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| − | Began operations 2nd July 2003
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| − | Initial Product offering (1 Family and 2 General)
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| − | Now, 77 products ( 35 Family, 32 General)
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| − | More than 350 staff
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| − | Trained more than 3000 agents
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| − | 3,813 Individual Family agents,
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| − | 1048 general agents, and
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| − | panel of 14 banks
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| − | 8 Branches; 2 more branches by September 2008;
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| − | 2 customer service centers
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| − | 10,000 General certificates,
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| − | 4,000 Individual Family certificates,
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| − | 3,000 Group Family certificates monthly, and
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| − | More than 900,000 participants
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| − | Average growth rate above 50% over last four years
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| − | 2007/2008 Gross Collected Contribution RM428 Million
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| − | Portfolio Mix : Family 75% : General 25%
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| − | 21% (RM90m) from Individual family
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| − | To build a PROFESSIONAL agency network
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| − | that is effective in delivering our products
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| − | and quality services to our current and
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| − | potential customers.
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| − | We treat our agencies as our business
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| − | PARTNERS
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| − | Providing a platform to facilitate “EASE OF
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| − | DOING BUSINESS” to our customers and
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| − | business partners.
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| − | Mankind’s duty is to serve Allah
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| − | ‘And I (Allah) created not the jinn and mankind except that they should worship Me
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| − | (Alone)‘
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| − | Adh-Dhariyat 51:56
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| − | Islam as a way of Life
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| − | ‘ O you who believe ! Enter perfectly in Islam (by obeying all the rules and regulation of
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| − | the Islamic religion) and follow not the footsteps of Shaitan (Satan)….’
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| − | Al-Baqarah 2:208
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| − | Our Belief
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| − | ‘ O you who believe! If you help(in the cause of) Allah, He will help you, and make your
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| − | foothold firm’
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| − | Muhammad 47:7
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| − | Attributes expected from Agents
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| − | “One is not rich because of being wealthy, but one is truly rich when one is rich in
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| − | behaviour”
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| − | Reported by Bukhari and Muslim
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| − | Al-Tabligh - Missionary
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| − | “ O Messenger (Muhammad SAW)! Proclaim The Message which has been sent down to you
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| − | from your Lord. And if you do not ,then you have not conveyed His Message. Allah will
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| − | protect you from mankind. Verily , Allah will not guide the people who disbelieve”
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| − | Al-Maidah 5:67
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| − | Al-Amanah – Trustworthy
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| − | “ O you who believe! Betray not Allah and His Messenger , nor betray knowingly your
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| − | Amanat (things entrusted to you, and all the duties that Allah has ordained for you) “
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| − | Al-Anfal 8:27
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| − | As-Siddiq – Truthful
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| − | “ And mix not truth and falsehood, nor conceal the truth (i.e. Muhammad SAW is Allah’s
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| − | Messenger and His qualities are written in your scriptures, the Taurat (Torah) and the
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| − | Injeel (Gospel) while you know (the truth) “
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| − | Al-Baqarah 2:42
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| − | Al-Fatanah – Wisdom
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| − | “Invite mankind (O Muhammad SAW) to the Way of your Lord(i.e. Islam) with wisdom (i.e.
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| − | with the Divine Revelation and the Quran) and fair preaching, and argue with them in a
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| − | way that is better … “
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| − | An-Nahl 16:125
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| − | AGENCY SALES SUPPORT
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| − | (INCLUDING BRANCH SALES SUPPORT)
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| − | AGENCY ADMINISTRATION
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| − | TRAINING
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| − | OBJECTIVES:
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| − | TO BUILD A STRONG, PROFESSIONAL AND
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| − | PRODUCTIVE AGENCY FORCE THROUGH
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| − | • STRUCTURED RECRUITMENT,
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| − | • STRUCTURED DEVELOPMENT PROGRAMMES,
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| − | • AGENCY SUPPORT PROGRAMMES
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| − | AT THE HEAD OFFICE AND BRANCHES.
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| − |
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| − | Agents
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| − | Recruitment Motivate Agents Supervise
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| − | & monitor
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| − | Agencies
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| − | AGENCY
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| − | I-POS Support SALES Agency
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| − | SUPPORT Support
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| − | Advertising
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| − | Sales Promotion
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| − |
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| − | OVERALL ACTIVITIES
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| − | Scheduled meetings with Agencies by Agency Sales Department
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| − | and Branch Staff
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| − | Information Update
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| − | Agency Performance review
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| − | Agency Activity & initiatives Twice a year Agency Business
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| − | Planning
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| − | Monthly meetings with Agency Association
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| − | Annual Award Recognition
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| − | Annual Overseas conventions
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| − | Quarterly Awards at regional level
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| − | National Agency Convention
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| − | Short contest/drives
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| − | Formation of ‘Model Agent’s Team’ adopting BOB, regionally
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| − | Year Round Agency Briefings and Motivational Talks nationwide
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| − | Conduct Takaful Opportunity Programmes for recruitment
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| − | regularly.
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| − |
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| − | 1. Character building
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| − | 2. Agency development
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| − | 3. Supervision of Agency Force
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| − | 4. Motivation of agents
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| − | 5. Business Management
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| − | OBJECTIVES:
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| − | TO SUPPORT AGGRESSIVE RECRUITMENT
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| − | AND DEVELOPMENT OF AGENCY THROUGH
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| − | • STRUCTURED RECRUITMENT/PROMOTION
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| − | PROCESS
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| − | • STRUCTURED PERFORMANCE TRACKING
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| − | • ACCURATE AND PROMPT PAYMENT TO
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| − | AGENTS
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| − | • EVENT MANAGEMENT
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| − |
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| − | Tracking Agents
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| − | and Record Remuneration
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| − | monitoring
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| − | and Payments
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| − | AGENCY
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| − | Agents Track Agency
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| − | ADMINISTRATION Expenses
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| − | Movements
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| − | Contest and Drive
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| − | Income reporting
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| − | OBJECTIVES:
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| − | Increased productivity to offset the small expense
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| − | margin from Wakalah fee
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| − | Link compensation to agency productivity
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| − | Minimum production incentive for bonus
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| − | Minimum production requirement for fringe benefit
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| − | Successful producers incentives, i.e. pool bonus
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| − | Link compensation to quality, i.e. persistency
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| − | Contest and drives to stimulate production
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| − | 2 categories:
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| − | Commissions, including bonus
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| − | Commission : Basic & overriding
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| − | 6 Years payment period
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| − | High first year commission
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| − | Smaller renewal commissions
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| − | Bonuses
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| − | Production
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| − | Pool
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| − | Persistency
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| − | Agency Related expenses
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| − | Agency Office Maintenance Clerical and Rental
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| − | Allowance
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| − | Business Development Allowance
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| − | Recruitment Bonus
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| − | Awards and Recognitions
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| − | Agency Provident Fund
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| − | GROUP Term Takaful
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| − | Contest and drives
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| − | RECOGNITION
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| − | (PERSONAL & GROUP PRODUCTION)
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| − | UMRAH TEHRAN
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| − | KAZAKHSTAN
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| − | CHINA
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| − | BANDUNG – INDONESIA
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| − |
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| − | OBJECTIVES:
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| − | TO DEVELOP A GROUP OF PROFESSIONAL,
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| − | COMPETENT AND EFFECTIVE IKHLAS AGENTS.
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| − | KNOWLEDGEABLE, SKILLFUL AND WELL
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| − | TRAINED IN TAKAFUL AND FINANCIAL PLANNING.
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| − | TO GIVE THE BEST ADVICE TO MEET THE
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| − | CLIENTS’ NEEDS AND EXPECTATION.
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| − | Technical Training
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| − | Soft Skill Training
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| − | AGENCY
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| − | DEVELOPMENT
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| − | Sales Tools
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| − | Training
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| − | Methodology
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| − | Technical training covering:
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| − | Islamic Finance
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| − | Islamic Values and Ethics
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| − | Takaful – elements and principles
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| − | Ikhlas Wakalah Model
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| − | Career Induction
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| − | Sales process and techniques
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| − | Product Knowledge
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| − | Investment linked
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| − | Quality Business & persistency
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| − | Basic Agency Management
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| − | Takaful Operations
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| − | Soft skills covering:
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| − | - Leadership
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| − | - Team building
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| − | - Sales scripts
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| − | - Advising skills
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| − | - Handling objections
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| − | - Presentation skills
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| − | Sales tools
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| − | - Financial Planning guide
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| − |
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| − | Compulsory Training Programmes
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| − | AM
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| − | UM
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| − | AUM
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| − | Agent WK1
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| − | WK 1 WK1 CIP
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| − | WK 1 CIP CIP PCP
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| − | CIP DEAS 1 PCP BAMC
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| − | DEAS 1 DEAS 2 BAMC TFE
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| − | DEAS 2 AAP
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| − | TAY TAY
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| − | Expected outcome
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| − | - Increase in number of Agents
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| − | - Improve productivity
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| − | - Improve Persistency
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| − | - Increase in No of Full-Time Agents
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| − | TOTAL CONTRIBUTION GROWTH
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| − | Year 2003-04 2004-05 2005-06 2006-07 2007-08
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| − | Production 2 17 39 61 90
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| − | (RM Million)
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| − | Policy issued
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| − | 6000
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| − | 5000
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| − | No of policy issued
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| − | 4000
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| − | 3000
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| − | 2000
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| − | 1000
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| − | 05-2004
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| − | 0
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| − | Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar 06-2005
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| − | 07-2006
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| − | Month 08-2007
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| − | 09-2008
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| − | Total Policies Issued 2004-05, 2005-06, 2006-07 & 2007-08
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| − | 42719
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| − | 45000
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| − | 40000
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| − | 32496
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| − | 28866
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| − | 35000
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| − | Number of Policies
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| − | 25097
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| − | 30000
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| − | 25000
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| − | 20000
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| − | 15000
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| − | 10000
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| − | 5000
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| − | 0
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| − | 2004-05 2005-06 2006-07 2007-08
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| − | Financial Year
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| − | Year 2004-05 2005-06 2006-07 2007-08
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| − | Production 25,097 28,866 32,496 42,719
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| − |
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| − | Proposal Received 2004 - 2009
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| − | 8000
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| − | 7000
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| − | Number of proposals
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| − | 6000
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| − | 2004-05
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| − | 5000
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| − | 2005-06
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| − | 4000
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| − | 2006-07
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| − | 3000
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| − | 2007-08
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| − | 2000 2008-09
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| − | 1000
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| − | 0
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| − | Month
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| − | Total Proposal Received 2004-05, 2005-06, 2006-07 & 2007-08
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| − | 49861
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| − | 50000
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| − | 45000
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| − | 36337
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| − | Number of proposals
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| − | 40000
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| − | 31856
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| − | 35000
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| − | 27559
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| − | 30000
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| − | 25000
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| − | 20000
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| − | 15000
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| − | 10000
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| − | 5000
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| − | 0
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| − | 2004-05 2005-06 2006-07 2007-08
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| − | Financial Year
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| − | Year 2004-05 2005-06 2006-07 2007-08
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| − | Production 27,559 31,856 36,337 49,861
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| − | (Million)
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| − | AGENCY IS A VITAL INTERMEDIARY
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| − | CHANNEL AND IS A KEY STAKEHOLDER
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| − | AND BUSINESS PARTNER
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| − | REWARD PROGRAM INCREASES
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| − | PRODUCTIVITY
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| − | STRUCURED INCENTIVES RESULTS IN
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| − | HIGHER AGENTS RETENTION
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| − |
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| − | JAZAKALLAH
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| − | AND
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| − | THANK YOU
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