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TEXT: Enrolling in home, auto, health or other types of coverage plans can bring peace of mind, but as anyone who has tried to navigate the buying exchanges will know, this can often be easier said than done. The barriers to enrollment in any sort of coverage plans and policies are many, and with so many complicated coverage options, convoluted eligibility requirements and fine print to sort through, the insurance/takaful industry is in need of a makeover. Thankfully, Salaam Takaful Limited has arisen to do just that. The Shariah Compliant Insurtech enjoys a steady ride to being the industry leader by leveraging latest technologies like AI and data science to reduce the need for repetitive processes and tailor plan options to what each customer needs, streamlining the journey from inquiry to enrollment.

In recognition of this growth strategy backed by a technological and innovative approach, Salaam Takaful Limited is featured in the coveted list of InsurTech100 for 2021.

The FinTech Global Insurtech100 is an annual list of 100 of the world’s most innovative Insurtech companies that are addressing the digital transformation challenges in insurance industry. Over 1,400 companies were in contention under the radar of FinTech Global. A panel of analysts and industry experts voted from the longlist produced by FinTech Global and the finalists were recognized for their innovative use of technology to solve a significant industry problem, or to generate cost savings or efficiency improvements across the insurance / takaful value chain.

The intelligent use of technology is of immense importance to today’s business and Salaam Takaful Limited considers the significance of this need more than ever now. Hence, digital transformation and adoption of the latest technology are the driving force behind development of innovative products and unprecedented digital value additions.

Over the last few years, Salaam Takaful Limited has worked extensively to develop next-gen solutions to reimagine existing processes in insurance / takaful and help customers advance their customer-centric digital transformation journeys through cutting edge AI-based and Data driven offerings. Starting from laying the groundwork for any digital initiatives with no paperwork infrastructure and multi-functional digital App to deploying large-scale AI-based and telematics-based solutions, Salaam Takaful Limited has helped clients revamp core operations across the takaful value chain.

The acknowledgment in the esteemed Insurtech100 reflects the strength and untiring efforts of the entire team in their march towards the advancement of the industry and forging new frontiers in promoting technologically-enabled Shariah compliant solutions.

Copyright Business Recorder, 2021

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