SEPANG, Dec 2 (Bernama) -- The Malaysian Takaful Association (MTA) hosted the Takaful Leaders and Agents Summit 2024 (TLAS 2024), reaffirming Takaful's critical role in Malaysia’s financial sector.
The industry relies on over 120,000 agents driving growth and expanding outreach.
MTA chief executive officer Mohd Radzuan Mohamed said the summit, which drew about 500 participants, highlighted the importance of Takaful agents as the industry's backbone.
He emphasised their role in extending Takaful's reach and promoting awareness of the need for financial protection.
“Through the strategic transformation plan, Hijrah27, the industry continues to embrace product innovation and quality growth to ensure Takaful remains accessible and sustainable for all Malaysians.
“This alignment signifies the industry's commitment to a forward-thinking, inclusive future that is in harmony with the national agenda,” he said in his speech today.
Themed “Dare to Lead,” the summit served as a platform to inspire and equip agents with tools to excel professionally and personally. It also marked the 40th anniversary of Malaysia's Takaful industry.
Meanwhile, MTA chairman Elmie Aman Najas highlighted agents' vital contribution to the sector's progress.
“Takaful currently contributes approximately 4.5 per cent to Malaysia's Gross Domestic Product in 2023.”
With Takaful holding a 32 per cent market share in Malaysia’s overall insurance and Takaful sector, agents are instrumental in driving sustainable business quality and raising awareness of financial protection.
"This is particularly evident in family Takaful, which accounts for 42 per cent of new business premiums,” he added.
The summit also facilitated collaboration within the Takaful ecosystem through the signing of two memorandums of understanding.
The first, with Universiti Sultan Azlan Shah, aims to enhance education and knowledge-sharing in the industry. The second, with Perfect 10, focuses on developing e-learning modules and tools to enable agents to deliver improved services, enhancing the customer experience.
-- BERNAMA
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