Family Takaful

2.1.1 Family Takaful

Description of role

Responsible for underwriting family Takaful products including evaluating and pricing applications, underwriting effectiveness and management of customers and intermediaries

Core skills

Ability to understand customer needs
Understanding of basic product types, features of different protection policies, pension schemes and premium fixing
Understanding of industry trends and developments and assess their impact on the underwriting function.
Ability to assess applications and set the acceptable level of exposure
Ability to define appropriate terms/key contract clauses to deliver underwriting decision.
Ability to perform underwriting assessment and evaluation of applications for family Takaful products.
Knowledge of different actuarial and statistical methods used t0 establish pricing structure.
Ability to utilise service providers and experts in appropriate circumstances, languages, etc.
Understanding of legal implications, inheritance etc.

Understanding of tools to detect and investigate frauds

Qualification and/ or certification

QFSQF Level 3

Relevant experience

Industry knowledge

Knowledge of the Takaful market, industry trends and developments.
Knowledge of key Takaful principles and terms.

Knowledge of laws and regulations impacting underwriting

Regulatory compliance of role

Knowledge of Takaful regulatory framework

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