The insurance industry is growing day by day with the passage of time in Pakistan, big giants have entered the market. Competition has increased so much that the insurance percentage rates have been very close in comparison to each plan. We cannot ignore Islamic Shariah-compliant takaful companies becoming a part of this market, which have increased their share rapidly in the past 3 to 4 years. This is relevant especially when we talk about automobile takaful companies, which are coming up with not only some competitive rates but also value-added features which they are giving to their customers.
One of my friends was discussing a service he availed from Salaam Takaful. He had taken membership from this particular company, and he lost his car due to theft and was a bit worried about it. Amazingly Salaam Takaful was there through the process amazingly; they never required the police’s final report for the process which was most relaxing for him because we all know that getting a police report is a stressful and time-consuming process. Everything was processed swiftly and with ease.
According to him, the claim was processed within 7 days as stated in their features. They were able to meet the expectations of my friend. He was happy and satisfied with it.
Personally speaking insurance and takaful companies are coming up with different ideas to engage and attract customers. They are quickly becoming market leaders by giving the customers a variety of options and features to choose from.
ZAIN ULLAH SHAREEF
KARACHI
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