TAKAFUL PAKISTAN

Business Process Reengineering

PRESENTATION CONTENTS

• Introduction

• Process Analysis

• Claiming Analysis

• Overall Process

• Structure

• Solution

• Members

• Process Versions

• Conclusion

INTRODUCTION• Takaful comes from the Arabic root word ‘Kafala’,

meaning "guarantee". • Takaful is the practice whereby individuals in the

community jointly guarantee themselves against loss or damage.

• Takaful Pakistan Limited marked its inception in June, 2006.

• Capital valuation of Rs. 300 million.• Takaful Pakistan Limited provides risk coverage in

all facets of General insuranceo Property (Fire & Engineering), o Marine, Motor, Liabilities

INTRODUCTION• Company shares are owned by reputable

financial institutions like Arif Habib Investments etc.

• Takaful Pakistan is operating from Lahore, Peshawar, Karachi (head office).

• It has its of Shariah Supervisory Board which has repudiated Islamic scholars.o Mufti Mohammad Mohib ul Haq o Mufti Dr. Khalil Ahmad Aazamio Mufti Imtiaz Alam

PROCESS ANALYSIS

IntimationInformatio

n Gathered

Quotation Made &

Sent

InspectionPolicy Issued

CLAIMING ANALYSIS

Check Issued

Required Documents Submission

Report Of Survey Made & Checked

Survey Of The Site

Information Gathering

Loss Claim By Customer

OVERALL PROCESS

Administration Underwriting BenefitAgents/ Marketing Department

Attract Customer

Movement of Documents

Coordination Information Gathered

Policy madeQuotation made

Inspection Survey Report

Make decision of Claim

AUTHORITATIVE STRUCTURE

Draft Prepared Submitted to Head of Department

If Approved Final Copy is made

SOLUTION

Fareeq-e-Takaful

Information Gathered

Quotation Made, Sent

Inspection Policy Made,Sent

If claimed

Survey Document Requirement

Decision on Claim Tasks Converged to Process

Process Owners

Process From Intimation to Claim

Underwriting Department

Benefit Department

TEAM MEMBERS

Fareeq-e-Takaful

Information Officer

Underwriting Officer

Claim OfficerIndependent Surveyor

Inspector

PROCESS TRIAGE

V1 : Faster Service, Repetitive Applications

V2: Moderately Complex Applications

V3: Complex Applications

Banks

Individuals

Corporate Organizations

Decide as per condition

CONCLUSION• Takaful Pakistan Limited is a service sector organization.

• Takaful Pakistan Limited is following the processes of a traditional organization

• Fragmentation of work is the real problem for Takaful Pakistan Limited

• Suggested process structure shall help in achieving greater CSL.

CONCLUSION• Suggestions would also help in increasing

satisfaction of employees.• During our study, we came to know Takaful

Pakistan has maintained its goodwill as its financed by top organization’so House Building Finance Corporationo Arif Habib Securities Limitedo Emirates Investments Group LLC (U.A.E.)

• Future Research is required for other processes which is not focus by us.

THANKYOU