PruBSN’s new business up 26.4%

08 May 2015 / 05:41 H.

    KUALA LUMPUR: Prudential BSN Takaful Bhd's (PruBSN) new business annual contribution equivalent (ACE) grew 26.4% to RM340.1 million for FY14 from RM269.2 million the previous year, attributed to its strong and consistent performance across its multi-channel platforms that are driven by the company's technological advancement and customer focused solutions.
    This increased the company's market share to 33.1% from 27.1% in 2013, reinforcing its position as Malaysia's leading family takaful operator.
    PruBSN's CEO, Azim Mithani said its emphasis on innovation and the disciplined execution of strategies have allowed the company to grow healthily over the course of the eight years that is has been operating.
    "PruBSN still leads the family takaful market in terms of new business because we are leveraging on technological advances and focused on providing customer centric solutions," he said in a statement.
    PruBSN has advanced from paper-based to a fully digitised payment infrastructure, assuring its customers the added convenience and security of transmitting payments electronically through e-Credit, which provides a more cost efficient, effective, greener and secure alternative of crediting payment.
    The company aims to deploy the migration in three stages this year beginning with claims payout, which will benefit more than 600,000 of PruBSN customers.
    PruBSN paid out a total of RM234.8 million in 2014 for claims pertaining to death, total permanent disability, critical illness, accidents and health.
    PruBSN believes the long term prospects for takaful are fundamentally strong and remains optimistic that the relevance of its strategies and the appeal of its offerings benefit a multi- faith community, which can further grow the market penetration for takaful.

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