AGILIS Insurance suite is a flexible solution for Takaful operators that combines the best contemporary insurance practices with Islamic requirements, making these solutions a unique offer for Islamic insurance business. It covers both General and Family takaful products and allows setting up of various operational models (Wakalah, Mudharabah and Hybrid)

Challenges

Solution from Agile

Product design, Actuarial functions

Meeting Shariah requirements when creating new products and operational stages, efficient tools to reduce time-to-market, effective policy administration system.

Manage relationship with distribution and sales channels

Web-based technology allows for easy deployment, specialized agent portals for development of vast sales network, Bancatakaful and brokerage solutions for expanding collaboration. Complete automation of commission calculations.

Underwriting processes:
Workflow, risk analysis, third party data integration

Efficient tools for managing ratings, business processes, business rules to improve underwriting results

Administration of contracts

Management of policy data, customer information and financial records - reduction of cost

Claim management

Efficient tools for claim validity estimations, claim adjustor and surveyor details, reduction of claim TAT

Retakaful

Manage complex Retakaful contracts, tracking and administration of existing contracts

Accounting

Ensure full-scale accounting of all Takaful and Retakaful operations, ensuring Shariah-compliant fund management .

Regulation

Create full-scale reports to Shariah board and national regulator as well as participants, ensure financial transparency

Due to various regulation approaches used in Middle East, Malaysia and UK we have deliberately kept regulatory reporting as flexible as possible.

For more information, email us at This email address is being protected from spambots. You need JavaScript enabled to view it. . Alternately, you could fill in our product enquiry form enabling us to have the right person contact you.