PRUDENTIAL BSN TAKAFUL BERHAD
20
“ Most traditional insurance and Takaful certificates used to have an exclusion for pandemic conditions . We immediately stated that we would be removing or not applying that exclusion ”
— Ahmir ud Deen , COO , Prudential BSN Takaful
Following the original lockdown ( or “ Movement Control Order ” as it was called in Malaysia ), insurance and Takaful has been increasingly seen as a tool to enrich and improve the lives of customers rather than simply providing policies (‘ certificates ’ in Takaful terms ). As such , PruBSN understood that the conditions of the coronavirus crisis provided the opportunity to demonstrate its strong ethical standards . “ Most traditional insurance coverage and Takaful certificates used to have an exclusion for pandemic situations and illnesses . We immediately stated that we would be removing or not applying that exclusion ,” says Deen . Furthermore , with its increased flexibility , the company was able to offer a further range of benefits to clients , including new benefit payouts for ‘ confirmed diagnosis of COVID-19 ’ and ‘ death from COVID-19 ’ as a free addon to their existing coverage . “ The whole industry also came together and set up some funds to even cover those people that may not have been protected at all ,” he continues . “ I think the pandemic has changed the paradigm for all of us : it ’ s a new awakening
DECEMBER 2020