Mohd Azhar Abdul Ghafar - 2012984401

Tutorial 1

I am currently working with Prudential BSN Takaful Berhad which cater for financial
product and services on Takaful/Insurance to protect policy holders lives from any
happen before disaster and love yourself and family were protected in whole lives.

1) Process focus
When a production capability categorized around processes to assist low-
volume, high-variety production. A most important advantage of process focus
is that it permits for a large degree of flexibility for the reason that products
can move periodically between processes, while repetitive focus is more
prearranged, systematic and consequently less flexible than process focus.

In PruBSN Takaful, all operations are grouped according to the type of

process. These processes might be departments devoted to strategic
planning, Shariah advisors, product development, sales and marketing,
processing, risk management, legal, Underwriting, New Business, actuary,
customer services and Claims, respectively. Those are very significant
processes that need to be focused to drive the direction of takaful company in
short and long horizon.

The strategies is know the Service level agreement the process which there
have their work flows before its done. Which follow the flows by the
Compliance & Risk Management team to make sure everything is smooth the
process flows.

2) Product focus
Is a high-volume, low-variety process where the amenities are controlled
around the products. In order for a firm to efficiently use this option it must
operate with high levels of consistency and massive quality control yardsticks.

In PruBSN Takaful, the product development team were designed the

products on the benefits which the best for policy holders in long term
covered. After the product team were creating the product, in actuary team
were analyse the risk funds in term takaful called Tabarru fund. Which is to
contain the risk by ages, occupation, smoker/non-smoker. Once the product
was launched, sales & marketing team will advertise to all people in Malaysia
who needs a Takaful product.

So that the strategies on product focus is to penetration market in Malaysia to

have a policy Takaful for their protection needs that contains with savings plan
 in long term life. Furthermore, the product must be strong because Prudential
BSN Takaful currently maintain as No. 1 Takaful operators product in
Malaysia. So that other competitor cant follow how PruBSN Takaful products
were gradually strong.

3) Mass customization
The rapid, low cost production of goods and service to satisfy increasingly
unique customer desires. It combines the flexibility of a process focus with the
efficiency of a product focus.

In Prudential BSN Takaful, must know their penetration market for Takaful in
Malaysia because today still increasingly every years to keep promoting
Takaful as Shariah Insurance is safe from conventional product it contains on
Riba(usury), Gharar (Uncertainty) & Maysir (Gambling). So that the sales
marketing must strongly promoting & advertise Takaful to all people in
Malaysia. In terms of Takaful, there have a pool of policy holders which all
contributes their money continuously on a risk fund which is called Tabarru'
fund that one of member were on decease or death so that money will claims
to their love ones.

Furthermore, the strategies plan on mass customization is to imaginative

product design that it desires to policy holders to protect their self in danger.