Kuala Lumpur, 7 April 2022 – Syarikat Takaful Malaysia Am Berhad (“STMAB” or “Takaful Malaysia”), the general takaful arm of Malaysia’s FIRST takaful operator, Syarikat Takaful Malaysia Keluarga Berhad, honoured and celebrated its best-performing corporate agents at the STMAB Agency Awards 2021. The prestigious awards ceremony, graced by Syarikat Takaful Malaysia Am Berhad Chairman Ismail Mahbob, saw 208 corporate agents receiving awards under four categories for their outstanding sales performance in 2021.
“Despite the challenging COVID-19 situation, our corporate agents remained steadfast in overcoming challenges to achieve the set targets. We value the commitment demonstrated by our agency force and their dedication in sharing our vision to be a leading general takaful operator and help our customers achieve their aspirations for a brighter and financially secure future. The agency awards ceremony is specially dedicated to celebrating the accomplishments of our valued business partners, and we hope this recognition will continue to drive and motivate them to deliver consistent sales performance year-on-year,” said Mohamed Sabri Ramli, Chief Executive Officer of Syarikat Takaful Malaysia Am Berhad.
The STMAB Agency Awards 2021 comprised of four categories, namely, the silver award category (sales performance of RM250,000), the gold award category (sales performance of RM500,000), the platinum award category (sales performance exceeding RM1 million), and the super platinum award category (sales performance over RM3 million). Nurul Ridzuan Akhya Nadim from GNW Solutions Sdn Bhd won the grand award for his outstanding sales performance exceeding RM4 million.
Mohamed Sabri stated, “As the economy is set to grow at a rapid pace in 2022, we have reinvented ourselves and concentrated on the four core areas of our business strategy comprising distribution, product value proposition, services, and technology to stay ahead of our counterparts. We focus on expanding our agency distribution channel by recruiting experienced marketing personnel from conventional companies to strengthen our market presence and promote takaful as a protection solution for all regardless of religion and race. STMAB also emphasizes the creation of alternative channels to deliver effective business results.”
“We have successfully recruited 465 corporate agents, mainly conventional insurance agents in less than a year, and we aim to double the number in the near future. To attract and retain corporate agents, we offer a variety of business support programs, including a market-leading recruitment program with the primary objective of empowering them with the right skills and knowledge to compete and penetrate the takaful business. In addition, our business managers nationwide are trained in recruiting new corporate agents as well as providing takaful business-related training and consultancy for conventional insurance agents interested in building a career in the takaful business,” explained STMAB Alternative Channel Head, James Kuah.
“Our leading market share of 24% in the general takaful business for the financial year 2021 is a testament to our sterling performance to maintain as the top two leading takaful operators in the general takaful business. STMAB has captured a market share of 4.3% in the combined insurance and takaful market for 2021 and rose to number nine in the industry rankings from number eleven in the previous year. Going forward, we aspire to secure our position among the top five takaful operators and insurance companies in the combined market. Therefore, embracing product innovation, technology, digital tools, and offering enhanced services will be our priority to keep our business competitive and relevant to the growing consumer demand for innovative protection solutions, as well as provide an avenue for our corporate agents to get more customers and generate sales,” said Mohamed Sabri in conclusion.
