BIMB Integrated Annual Report 2017

Moving ahead, Takaful Malaysia is exploring more partnerships with major financial institutions, improving its sales strategies with more attractive sales incentives and aggressive effort on product innovation and development. This is part of the Company’s continuing effort to provide its customers with better financial solutions. The Company’s primary focus in the past centered on credit protection products. Going forward, its partnership with financial institutions with wider product offering particularly in the personal line of products will be the key in maintaining a competitive edge in the insurance industry. To date, the Company has formed partnerships with RHB Islamic, Affin Islamic and Ambank Islamic to help boost sales and ensure sustainable revenue. Takaful Malaysia will also prioritise the development of digital products and services to cater for the changing demands of customers who want better and more convenient access to Takaful products. Online channel provides cost savings and premium advantage. Our “Click for Cover” online portal aims to provide a more convenient yet affordable online application process along with delivering superior customer experience, which suits our fast-changing digital society. Additionally, the Company has further enhanced distribution capability in building more professional and productive sales force to increase our market penetration rate. More importantly, the Company is expanding its product suite to provide more options with greater convenience to its customers. 2018 Strategic Priorities: • Digital transformation to support business growth and customer centricity • Strengthen multi-channel distribution via cross selling • Increase market penetration share by recruiting more professional productive sales force and expanding bank partners • Well-balanced asset portfolio mix to achieve stable and adequate investment income • Ongoing talent management and disciplined expense management to ensure cost efficiency • Create the best digital footprint by partnering with FinTech players and embracing social and digital marketing • Focus on profitable product lines (such as fire business) and continue with cash back campaign • Launch new fire products in early 2018 with additional features 61 Overview Value Creation Accountability Financial Statements Sustainability Performance Data Shareholders Information 21 st AGM Information Management Discussion & Analysis l