TAKAFUL IKHLAS GENERAL AND TAN CHONG MOTOR ENTER STRATEGIC PARTNERSHIP

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20 Jan 2022

Kuala Lumpur, 20 January 2021 – Takaful Ikhlas General Berhad (Takaful IKHLAS General), a wholly owned subsidiary of MNRB Holdings Berhad have entered a strategic partnership with Tan Chong Motor Holdings Berhad (Tan Chong Motor) commencing 5 January 2022.

The new partnership pulls respective strengths to create coercive value for both companies with emphasis on providing excellent customer experience.

Through this strategic partnership, Takaful IKHLAS General will be providing motor takaful product and services to customers of Tan Chong Motors brands namely Nissan, Renault, Infiniti and JMC. The Takaful IKHLAS General motor takaful product and services will be distributed via Edaran Tan Chong Motor franchises and dealers nationwide.

Addressing the positive move, Dato’ Rudy Rodzila Che Lamin, President & Chief Executive Officer of Takaful Ikhlas General Berhad said, “We are pleased to be part of this strategic partnership with one of the nation’s prominent motor companies, Tan Chong Motors, which we believe will give us the opportunity to expand our reach in the motor industry. Through this partnership, we will be providing Tan Chong Motor customers with comprehensive motor takaful protection with value added propositions”.

Apart from having their vehicles secured with various benefits from Takaful IKHLAS General motor takaful product which include Flood Relief Allowance, Car Replacement Allowance and Additional Cash Payout in the event of total loss or theft, Tan Chong Motors customers will also benefit from Takaful IKHLAS General’s fast and easy claims process as well as the IKHLAS Waqf and Endowment (IWE) benefit. With the IWE benefit, a complimentary sum of RM1,000 will be endowed under the participant’s name to recognised waqf and endowment institutions selected by the company in the event of accidental death.

Meanwhile, Mr. Joshua Yong from Head of Tan Chong Insurance Business Stream commented, “We are confident that as a competitive takaful provider, Takaful IKHLAS General will be able to offer value-for-money product and services to our growing segment of customers seeking Shariah-compliant motor insurance products. We have the same objective under this partnership which is to ensure customers satisfaction when it comes to product offerings and services. Takaful IKHLAS General will also be featured in our digital platform at www.goinsuran.com under the brand GoInsuran. This platform operates as a real-time electronic platform to process online applications submitted by customers for motor vehicle takaful purchases and it provides free road tax delivery”.

Takaful IKHLAS General is optimistic that this partnership will boost its market share among Tan Chong Motors customers. Dato Rudy said “As reported by ISM Statistical Bulletin, we recorded 11.7% growth in Gross Written Contribution (GWC) during the first nine months of 2021 to RM353.2 million from RM316.1 million recorded in the same period last year. The growth was drivenby our Motor and Personal Accident businesses of which the GWC grew by 15.4% and 16.7% respectively over the corresponding period in the same period last year. This demonstrates that Malaysians are now more aware of our product offerings, and thus we are confident that this partnership will enable us to penetrate to a wider market segment and contribute to boost our numbers in the years to come”.

Detailed information regarding the product may be obtained from all Tan Chong Motor branches nationwide.

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