TEXT: Salaam Takaful Limited is pioneering a technological revolution in Islamic insurance, earning the distinction of being the first Islamic Insurtech in Pakistan. This commitment is evident in its innovative tech-driven products that are reshaping the Islamic insurance/takaful landscape.
Notably, the company's "Pay-As-You-Drive" Motor Takaful aligns with Islamic finance principles while leveraging modern technology. This unique offering introduces a dynamic pricing model, allowing policyholders to contribute based on actual kilometers driven. Through telematics technology, real-time data on vehicle usage ensures transparency and fair benefits for policyholders. In agriculture, Salaam Takaful addresses farmers' vulnerabilities with Parametric-based Crop Takaful, utilizing advanced data analytics and satellite technology to protect against specific weather-related risks. The company's commitment extends to the travel sector with Flight Disruption coverage, employing advanced risk modeling and real-time data analysis to provide comprehensive protection for unexpected disruptions.
Salaam Takaful is not only introducing innovative tech-based products but also transforming traditional processes for efficiency and policyholder convenience. The shift from paper-based to digital operations streamlines workflows and reduces environmental impact. The introduction of a WhatsApp feature offers policyholders instant access to information and policy details. The Salaam App serves as a comprehensive insurtech ecosystem, enabling digital claims, access to exclusive discounts, and free outpatient consultation services through the Salaam Virtual Clinic feature.
As the first Islamic Insurtech in Pakistan, Salaam Takaful is dedicated to revolutionizing the insurance and takaful industry. By continuously pushing the boundaries of innovation, the company sets new standards and fosters a culture of positive change. Through advancements in data analytics and emerging technologies, Salaam Takaful aims not only to meet but exceed the evolving needs of policyholders, positively impacting the entire insurance and takaful landscape in Pakistan.
Copyright Business Recorder, 2024