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Noor Takaful Launches Region’s First Online Islamic Insurance Service

Islamic insurer offers easy to use and secure online purchasing option
Dubai: November 3, 2009: Noor Takaful , the Sharia’a compliant insurance brand of Noor Investment Group , announced today the launch of the GCC’s first online real-time, web based, Islamic insurance service.

With a simple click of a mouse, the easy to use online facility allows customers to shop for a variety of insurance products which are offered at very competitive and transparent rates. The service provides a quick and complete insurance solution from beginning to end, from obtaining an online instant quote to purchasing online insurance and delivery of policy cover.

Noor Takaful inaugurated the new online service with its motor insurance, covering both private and commercial vehicles. Other types of insurance will be available shortly.

Dr Ahmed Al Janahi, Deputy Group CEO, Noor Investment Group and Managing Director of Noor Takaful said: “We live in one of the most under insured regions in the world. With our innovative online takaful solution, a first in this region, we aim to make our Islamic insurance products more accessible to everyone through advanced technology.”

Straight forward and user friendly, the interactive portal seeks to bridge the gap between Noor Takaful and its customers who prefer the convenience of shopping online, rather than visiting a broker. By going online Noor Takaful is able to minimize transactional costs and overheads which in turn reduces the cost of purchasing insurance for customers.

The new online service, which can be accessed at www.noortakaful.com uses a safe and secure payment facility, with a high level of encryption. Customer service advisors are on hand and can provide advice and suggestions on the various insurance options available to suit each individual’s unique needs.

Parvaiz Siddiq, CEO, Noor Takaful , said: “The online facility gives new meaning to buying an insurance policy. It involves less hassle for existing and prospective customers, since insurance products and services can be easily bought and quickly approved. We are taking the anxiety out of insurance shopping and making the process easier and less expensive for everyone”.

Noor Takaful 's portfolio of products includes the ' Noor Takaful Family' that is designed to meet the needs of providing assurance through products such as healthcare, group family and life. ' Noor Takaful

General' offers products that cover loss or damage to assets related to marine, engineering and aviation industries.

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Noor Takaful
Noor Takaful is the Sharia’a compliant insurance brand of Noor Investment Group LLC. Through its 2 entities Noor Takaful Family PJSC and Noor Takaful General PJSC, it offers a broad range of Sharia’a compliant general and family takaful products. Noor Takaful’s business model is founded on the Sharia’a principle of wakalah. Noor Takaful administers the process of participation, manages collection of the takaful contribution and processes the claims according to the contract agreed with the participants. In addition, Noor Takaful will also act as a trustee for investing funds in Sharia’a compliant structures to generate returns on the contribution paid. Noor Takaful aims to set new standards in the region’s booming takaful industry with a focus on service innovation. Noor Takaful 's products and services are governed by a Sharia’a supervisory board comprising of well-known Islamic scholars. For more information, please visit: www.noortakaful.com

For media enquiries, please contact:
Mohamed Tahboub
Senior Account Manager, Financial Practice
Jiwin Public Relations
Tel: +9714 3613598
Mob: +97150 157 6868
Email: mohamed.tahboub@jiwin.ae

© Press Release 2009