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


RELATED DOCUMENTS

A Review of Takaful by Prof. Khawaja Ahmed Saeed
Agency Management,Training and Incentive Programme
Audit Issue of Islamic Banking
Banca Takaful by Faisal Shahzad Abbassi
Best Practices from e- Insurance to e-Takaful by Sami Guello
Calculated Risks, Measurable Results
Challenges & Issues Faced by Takaful Industry by Mr. Imtiaz
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


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Number of Pages

34


Published Date

2016-09-17 01:17:16


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