The implementation model of takaful insurance company was presented
In the 25th meeting of Takaful Working Group of Insurance Research School;
According to the financial news report, citing the public relations and international affairs of the Insurance Research Institute, in the 25th meeting of the Takaful Working Group of the Insurance Research Institute, which was held from 15:00 to 17:00 on Wednesday, December 29, with the presence of Mohammad Mahdi Asgari, the head of the Insurance Research Institute, the members of the Takaful Working Group of the Insurance Research Institute, Nazar Ali Salahinejad, the deputy CEO of Bimah Day Insurance Company and the senior managers of this group, was hosted by the Insurance Research Institute, the jurisprudence, legal and technical aspects of the operational framework and the structure of takaful products of Bimah Day Insurance Company in the field of health were discussed and reviewed, and the members of the Research Institute’s Takaful Working Group Bimah provided their expert opinions in order to adapt the proposed model of this company to the localized operational framework of Takaful.
In this meeting, the operational framework and structure of takaful products in the field of health insurance company, including 19 chapters including generalities and definitions, takaful certificate conditions, how to form, open and operate takaful funds, management of takaful funds, product classification and contracts , intelligent operational infrastructure of information and communication technology, how to determine the right to participate in takaful products, takaful risk management, takaful trust, how to invest takaful funds, cases of revocation of takaful certificate suspension and redemption, loss claim management, how to calculate management fees, takaful fund attorneys’ fees, Management of administrative and general expenses by the shareholders’ fund, acceptable overhead expenses of takaful funds, how to distribute excess profits in the fund, how to compensate for deficits and losses in the fund and investment, management of takaful fund assets and management of how to issue takaful certificates and handle damage claims It was presented along with the takafli plans of the Day insurance company.
In the meeting to present the implementation model of Takaful insurance company, Asgari thanked the members of the Takaful Working Group of Insurance Research Institute and the experts present in the meeting for participating in the scientific panels of the 30th National Conference and the 11th International Conference on Insurance and Development.
The head of the Insurance Research Institute, referring to the presence of more than twenty prominent professors in the fields of insurance, takaful and Islamic finance from five countries, Malaysia, Indonesia, Turkey, Pakistan and England, announced at the 1402 Insurance and Development Conference; With the presence of these experts in the largest gathering of Iran’s insurance industry activists, the global Takaful family is now being formed with the efforts of the Insurance Research Institute.
Asgari described the holding of such an event with such dimensions and scope and focused on Takaful issue as unprecedented in the history of the country’s insurance industry and added that this year’s insurance and development conference, in addition to transferring world-class knowledge to the country’s insurance industry, is an opportunity for mutual thinking and international interactions. provided for the countries present in this event.
The head of the Insurance Research Institute announced the continuation of specialized webinars in the field of takaful by foreign guests of this year’s insurance and development conference and added that in January of this year, two workshops were held by the consultant of Allianz Insurance Company in Malaysia and the deputy director of Salam Takaful Company; Pakistan’s largest takafli company will be presented. He also invited the members present in the meeting to participate and benefit from the scientific content of these webinars.
Asgari praised the active presence of CEOs of insurance companies offering takaful products in the specialized meetings of the 1402 Insurance and Development Conference and noted that the aim of the Institute of Insurance Research in holding specialized meetings with foreign guests of the conference was that the CEOs of insurance companies licensed to offer takaful could be able to To raise their technical questions in the presence of the representatives of the leading countries in the field of Takaful and to receive the expert solutions of the world’s professors and experts in this field, and the active participation of the CEOs of insurance companies in these meetings showed that the Insurance Research Institute was successful in achieving this goal.
The head of the insurance research institute further considered this year’s insurance and development conference as a turning point in the history of the country’s insurance industry and added that now Iran’s insurance industry has achieved a special position in the countries of the region, and the foreign guests of the conference concluded and acknowledged that takaful without attendance Iran will not become global.
Referring to the emphasis and support of the government, the Ministry of Economy and Central Insurance of the Islamic Republic of Iran, Asgari clarified the implementation of takaful and the expansion of international interactions; By using all its capacities in the two fields of education and research, the Insurance Research Institute will be with the insurance companies until the end of the Takaful implementation and finally the establishment of the joint Takaful company with the cooperation of Islamic countries. He also announced the dispatch of managing directors of insurance companies to the leading countries in the field of takaful in order to visit the takaful companies of these countries and conclude a memorandum of understanding by the end of this year and clarified; In addition to using domestic capacities in line with the establishment of takaful in the country’s insurance industry, the capacity of prominent international professors in this field can also be utilized.
Ali Nazar Salahinejad, Deputy CEO of Bimah Day Insurance Company, expressed his gratitude to the Insurance Research Institute for providing a platform for takaful products in the country. The health sector is one of the relative strengths and advantages of Day Insurance Company, and the capacities of this company, which have increased considerably over time, will reach their highest level by offering Takaful products.
The deputy CEO of Bimah Day Insurance Company also noted that this company is operating and providing services with a view of providing services, and entering the field of designing and providing takaful products in the field of health is a blessing for Bimah Day Company and the gathering ground of a group of capable specialists of this He has provided the field in Day Insurance Company.
In the end, he expressed his hope that by offering takaful products and by using the created capacities, Day Insurance Company will be able to achieve more success in providing more worthy services to its insurance policyholders.
At the end of this meeting, the head of the Insurance Research Institute announced that the proposed bylaws of Bimah Day Insurance Company had been approved subject to the implementation of reforms in the opinion of Takaful working group members and added that after the implementation of these reforms and the approval of the Insurance Industry Jurisprudence Council, the Islamic Studies Department of the Insurance Research Institute and some Selected members of the Takaful working group will be granted permission to provide Takaful products in the field of health by the supervisory body.
Based on this report, after receiving the central insurance license, Day Insurance Company will present its takaful products in the field of health in the form of a proxy model as described in the diagram below.