LOLC 'Al-Falaah Takaful' marks first anniversary

'Al-Falaah Takaful' the Motor Takaful window operated by LOLC Insurance Company Limited celebrated a promising first year in the fast expanding Takaful market.

Backed by the strength and stability of the LOLC Group and an islandwide footprint of service outlets, Al-Falaah Takaful has made headway in the industry in one year by building a customer base touching 5,000 and Gross Written contribution of over Rs. 125 million in Motor Takaful alone.

The significance of Al-Falaah Takaful is that all features of this product are stringently supervised by a Shari'ah Supervisory Board (SSB) and an in-house advisor to ensure that all product features and processes adhere to set standards and principles.

In addition, an efficient service is ensured by a dedicated and experienced team of customer service personnel operating through a wide network of branches.

CEO Gehan Rajapakse said, "We are indeed heartened by the performance of the Al-Falaah Takaful product within one year. We hope to expand our offerings to customers and provide unmatched benefits to policy holders."

Manager, Al-Falaah Takaful, Nadheer Siddeeq said, "Al-Falaah Takaful, provides customers a hassle free-motor insurance service. Whether customers purchase the vehicle though LOLC or not, Al-Falaah Takaful will guarantee that every aspect of safeguarding their vehicle is well thought of on behalf of them".

Assistant General Manager, Al-Falaah Islamic Business Unit of Lanka Orix Finance PLC, Shiraz Refai said, "We continuously strive to offer innovative financial solutions to customers. We signed up with Al-Falaah Takaful to cater to the insurance demands of customers last year.

We believe that this initiative has provided more convenience and flexibilities to customers. We look forward to more variants of Takaful options, so that we could make it available for customers in the future."