SALAMA Islamic Arab Insurance Company announced the launch of Salama Travel Plan, a new Takaful product which offers unique international cover such as travel inconvenience, trip curtailment and cancellation, lost and stolen documents, and medical and legal emergencies amongst many others.
The addition of the Takaful Travel Plan is a strategic move based on extensive market research which uncovered a large volume customer demand for Takaful products within the travel and tourism industry. In anticipation of an upward trend within the travel sector and with most countries mandating insurance for visa purposes, Shari?ah-compliant travel insurance products present a new and unpenetrated opportunity.? With this in mind, the Plan aims to be the most comprehensive in the market distinguished by competitive pricing and quick and simple solutions.
To support the new product, Salama has made it simple for their sales teams, brokers and distribution partners to access the new Travel Plan and other Takaful products with the introduction of a web-based solution, which offers instantaneous quotes and policies for retail products.
Dr. Saleh Malaikah, CEO and Vice Chairman of Salama Group explains the reasoning behind the company?s endeavours: ?Salama is an innovator in the Takaful industry. We are concentrating our efforts on cutting-edge initiatives including enhancing our various distribution channels, upgrading our customer service and continuing to invest in our IT solutions and infrastructure. We?re expanding our product portfolio in terms of the breadth of our offering as well as geographically in order to increase our footprint in the region and cater to the increasing sophistication of our customers and the ever-changing regulatory environment.?
Mr. Rafiq Halani, General Manager of General and Health Takaful, added: ?We are delighted to announce the launch of our first comprehensive Takaful Travel Plan and showcasing the new range of Health Takaful products to our existing portfolio. Providing a flexible alternative, the Plan will redefine the Health insurance landscape and we are confident that our customers will benefit from comprehensive cover without the prohibitive price tag.?
Salama has a paid-up capital of AED 1.2 billion ($330 Million) and is listed in the Dubai Financial Market. AM Best has assigned Salama a financial strength rating of A- (Excellent) and an issuer credit rating of A-. Salama has been rated by S&P as A-.
About the Author
Incorporated in 1979, SALAMA Islamic Arab Insurance Company is a leading provider of Shari?ah compliant Takaful solutions around the world. ?www.salama.ae
Source: http://businessislamica.com/2012/08/13/travel-takaful-2/
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