GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >>

 
  Share
  • The Company reports net profit of AED 9.1 million for the 9 months ended September 30, 2018, an increase of AED 7.6 million compared to the same period in 2017
  • The Company maintains its focus on Digitization and Artificial Intelligence development 
Dubai, UAE 14th November 2018,   Takaful Emarat (“the Company”), the DFM-listed, Shariah-compliant life, health and general takaful provider and the largest takaful insurer in the UAE, today announced its financial results for the period ended September 30, 2018. 
 
Key Financial Highlights 
  • Net profit for the 9-month period ended September 30, 2018 is AED 9.1 million, an increase of AED 7.6 million year on year 
  • Net profit for the 3-month period ended September 30, 2018 increased by AED 6.1 million year on year
  • Gross Contribution for the 3 months ended September 30, 2018 is 25% higher year on year, increasing by AED 32 million
Commenting on the results, Mohammed Al Hawari, Executive Board member and Managing Director of Takaful Emarat, said:
“I am pleased to report strong performance for Q3 2018, which reflects the on-going business efficiencies we have made across our Group as we continue to digitize our business. Our research and development teams are busy working with Artificial Intelligence and Blockchain technologies to develop more efficient products and services as we look towards the future of the insurance industry. In addition, working closely with Apple, we have also adopted Device-as-a-Service solution for our enterprise devices, which has helped to accelerate our product sales, services and deliveries through paperless processing.  
 
I am pleased to add that our team also has recently been awarded accolades such as “UAE Insurer of the Year” & “Takaful Insurer of the Year” which underpins our ambition to drive change within our industry.
 
These are very exciting times for our team and under the leadership of our CEO Fadi Hindi, we remain focused on delivering long term growth and shareholder value.”    
 
Key Operational Highlights:
 
During the first nine months of 2018, the Takaful Emarat business has been transformed by investing in digital and new technologies. This has provided customers with user-friendly services that are available 24/7 across multiple platforms.   At the same time, the Company's corporate culture has also been transformed to become more agile and focused on accelerating growth. 
 
As part of this strategy, the Company successfully launched the new ‘tlife' brand for its life and medical businesses with its general insurance business, post the acquisition of Al Hilal Takaful, being rebranded as ‘tinsure' during this period. 
 
In July 2018, the Company received the final approval from the Insurance Authority to acquire Al Hilal Takaful, which provides general Takaful products and services to individuals and corporates, and become upon completion of the acquisition, part of one of the largest Takaful group in the UAE.
 
To support this growth, the Company also moved to a new 12,000 square feet state-of-the-art office, strategically located on Sheikh Zayed Road and with a dedicated high-tech Customer Service centre for walk-in customers. To further optimise business efficiencies, Takaful Emarat has become the first business in the Middle East to adopt a paperless strategy by deploying Apple devices for its sales force as well as back-office operations, leveraging cutting-edge technologies. The Device-as-a-Service solution for Apple devices has helped to accelerate product sales, service and delivery through paperless processing and ultimately has greatly improved operational efficiencies by reducing costs of using and maintaining enterprise devices.   
 
In addition, Takaful Emarat has integrated Artificial Intelligence (AI) solutions across its lines of business to enhance fraud detection in medical claims, in addition to adopting blockchain Pilot Projects to identify fraud in Life insurance underwriting.  Added to this, Takaful Emarat has also introduced its own intelligent chat bot (‘tbo') to enhance customer journeys. At the heart of tbo is one of the most sophisticated interactive chat bot systems on the planet. With tbo, Takaful Emarat has a 24/7 customer support system that never sleeps and always delivers.
 
From a new product perspective, the company has also introduced a new enhanced individual medical plan “Personal Health +”. Under this new plan, starting from just AED 6,000 – 7,000 per year, an individual can receive healthcare coverage up to AED 1 million.   
 
The Company remains strategically well positioned to deliver long term growth.



Posted by : GoDubai Editorial Team
Viewed 8107 times
Posted on : Wednesday, November 14, 2018  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : You Better Watch Out: Online and Offline Threats Endanger Payment Card Data
Next Story : Refinitiv Partners with Union of Arab Banks to Create Strategic Networking Platform
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Police Is the Official Eyewear in Sony Pictures' “men in Black™: International”
Michael Kors Celebrates Old Bond Street Townhouse With a Series of Events
Discover the irresistible La Yuqawam Pour Femme Fragrance
Make their Eid special this year with these perfect gifts!
An essential guide to buying fragrance
Eid Gift Guide Options
Flormar's Three Beauty Essentials for Ramadan Nights
Rado True Thinline My Bird Limited Edition'
Gift your loved ones a fragrance to remember this Eid by Rasasi Perfumes
SPF Must Haves – for everyday sun exposure!
TAG Heuer launches 2 special editions to commemorate Indy 500 race - Carrera and...
Tissot Chrono XL NBA Collector'
Salvatore Ferragamo Timepieces – Spring/Summer 2019 Collection'
6,000 worshippers prayed with Sheikh Saad bin Said Al-Ghamdi at Grand Mosque of ...
Chronoswiss Flying Regulator Night and Day Limited Edition
Carl F. Bucherer celebrates premiere of John Wick: Chapter 3 – Parabellum...
HONOR Has Got You Covered This Eid With Multiple Gifting Options
First Five Cities Revealed for New Call of Duty Esports League
MOUAWAD: Wedding Sets 2019
Longchamp Eyewear Introduces a New Sunglass Style Featuring the Brand's Signatu...
The Ultimate Eid Gift Guide
Surprise beat Dubai 2020 to reach NAS Volleyball semis, meet Bin Thani next
Shop the new Elna Line Collection at The Edit
Karl Lagerfeld and Puma Introduce Two Special-Edition Sneakers
Parmigiano Reggiano Exports to Gcc Region Soars to 105.2 Tons
Discover the soul and spirit of Ramadan at The Dubai Mall through inspiring work...
Carrefour Hypermarket Opens at the World's First Nature Inspired Cityland Mall
Regions' happiest workplaces revealed
LIU JO Eyewear Presents the New Girl's Collection
Dubai Customs discusses more cooperation with vegetable and fruit sector
Al-Futtaim Engineering & Technologies and Alcatel-Lucent Enterprise introduce cu...
Range Rover Reaches New Heights With Astronaut Edition Built to Celebrate Partn...
Listings: Manarat AL Saadiyat
V-Circle / Logomania Edition & Greca Edition
Splash latest product images
Ambassador of Nepal Visits Al Maya Supermarkets
OMEGA hosts a star-filled tribute to the 50th anniversary of the first lunar lan...
Looking for an opportunity to volunteer this Ramadan? Join Dubai Cares' 4-day vo...
UAEU researcher refines literacy in the 21st century
Abdul Latif Jameel Energy expands role in Middle East water sector
MOHAP Youth Council organizes Art Exhibition and Competition to highlight Emirat...
12th Edition of ‘Eiman Oasis' to be Held at Al Qasba Mosque During Ramadan
Sultan bin Ahmed Al Qasimi Launches Kan Yama Kan Book Donation Campaign's fifth ...
The iconic Maserati GranTurismo joins Dubai Police luxury patrol fleet
The Luxury Closet supports Dubai Cares' global education programs
Grand Opening of Prof. Sakla Spanish Eye Clinic for Eye Surgeries & Treatments i...
Samsung Becomes First TV Manufacturer to Launch The Apple TV App and AirPlay 2
Visit Dubai Festival City this Ramadan and Grab Exclusive Offers
Sharjah Chamber Discusses Enhancing Trade and Investment Cooperation with Brazil
Empower signs Gold Sponsorship Agreement with ASHRAE RAL for two years