How a leading Takaful Company addressed their
operational challenges & compliance issues
and further grew their business?

AETINS assisted one of the leading Takaful companies in South East Asia, which writes both Family Takaful and General Takaful business. We helped them transition from the old legacy system with limited functionality to a comprehensive Takaful core system. Subsequently, we assisted them to change the complete Takaful business model from Mudharabah to Wakala and provided an end-to-end stakeholder engagement platform.

Line of

  1. Family Takaful
  2. General Takaful


  • Operated via home grown legacy application with limited functionality
  • Operational activities and accounting was managed manually
  • Takaful Business was operating on the initial Mudharabah model. Whereas, the Takaful industry had moved ahead with more predictable Wakala Model
  • Challenges on scalability as business grows
  • Challenges to launch new innovative product lines/products
  • Challenges to extend the system to distribution and customers

Business Need

  1. To look for a single, stable and mature Takaful core system to address both Family and General Takaful business.
  2. Have a system with end-to-end automation, automated Takaful fund management, support for different Takaful models, and automated reporting.
  3. Integrated stakeholder engagement portals.

How AETINS assisted?

  • Provided ISF Takaful as single core system for both Family Takaful and General Takaful business. This enabled in;
  1. Gathering a single customer view across all lines, customer accumulations, profitability and etc.
  2. Centralizing control of distribution (multi-channel, multi-tier hierarchy) with varying rules by product
  3. Integrating finance for both Family and General business to enable seamless customer experience and cost efficiency
  • Completely automated Takaful accounting with flexibility to setup rules for each product separately. This enables fine control on pricing and costs allocation across funds and charges
  • Integrated ISF Financials (General Ledger) solution, which helps in fund segregations and reporting for Family and General Takaful business and Takaful funds
  • Provided ISF Channel Portal for distribution to provide quotes and complete sales online
  • Distribution can also enquire required information and submit servicing requests
  • Assisted in transition from Mudharabah to Wakala model

How it
benefited the client?

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