Takaful Malaysia signs RM12 milion contract with HP
Feb 12th, 2009 by 1takaful
Source: Bernama, 12th February 2009
Syarikat Takaful Malaysia Bhd (Takaful Malaysia) has signed a RM12 million information technology (IT) services contract with Hewlett-Packard (M) Sdn Bhd (HP) to enhance its profit and market share of the industry.
Takaful Malaysia group managing director, Datuk Hassan Kamil, said the move was part of its strategy to establish itself as the country’s leading takaful operator and a key player in the local insurance scene.
He said Takaful Malaysia was in a strong position today with an asset base of about 40 percent of the market share of all takaful operations.
It also has over 70 branches nationwide with total assets of RM4.05 billion at the group level.
“By enhancing our service levels we are confident we will be able to regain our number one position within the next two to three years,” he said at the ceremony to sign the contract here today.
Hassan said Takaful Malaysia has identified various steps to be taken to further strengthen its position in the industry, which included placing importance on IT infrastructure/system to facilitate management and marketing of its growing range of products as well as increasing product development efficiency.
“The three-year contract will capitalise on HP’s expertise in managing IT infrastructure.
“This contract will also enable Takaful Malaysia to focus on its core competency of delivering insurance services to exceed customer expectations and ultimately further improve business productivity and efficiency,” he said.