JLPISF Takaful System is a core business application for Takaful that works as a cross-functional ERP system and facilitates in the day-to-day business activities.
This application's unique feature includes having Shariah compliant accounting procedures that are integrated at transactions level and are characterised by fully automated processes with lesser user intervention.
As a result, Jubilee Life will be able to profile the personal needs of customers and serve them better, be able to craft contemporary products, introduce new products into the market, gain insights into business intelligence and analytics for a quick response system, mitigate risks, and eventually drive new package offerings.
Zahid Barki - group head Risk Management, Compliance and Quality Assurance - Jubilee Life Insurance said on the occasion that the collaboration with AETINS was a momentous step taken in the Takaful industry.
"Jubilee Life, being a leader in the industry, has always been at the forefront of bringing premium products and services to its customers through innovation," he said.
The MOA between the two companies took place in presence of Malaysia External Trade Development Corporation (MATRADE) officials who came with the Malaysian Prime Minister Dr Mahathir Bin Mohammad on the invitation of his Pakistani counterpart Imran Khan.