By ZAZALI MUSA
JOHOR BARU: Prudential BSN Takaful Bhd (PruBSN) sees Johor as its next big market for the takaful business outside the Klang Valley.
Its chief executive officer Mohammad Salihuddin Ahmad said, in view of the good prospect, the company had decided to open its Southern Region Business Centre in Taman Austin Perdana near here.
PruBSN provides a wide range of services and acts as a one-stop centre where customers can make enquiries and seek advice from regional agents at the centre.
The Johor Baru centre is the company’s second after its Shah Alam branch was opened recently to serve customers in the central region.
“Johor, with a 3.17 million population of which 66% is of working age, is a large market that the company cannot ignore,’’ he said at the centre’s opening recently.
Salihuddin said that development activities at Iskandar Malaysia also provided good business opportunities for the company.
He said, apart from targeting Johoreans, the company would look at Singaporeans, especially those living in Johor Baru, as customers.
He said the company would open five new branches this year at state capitals in the northern region, east coast states, Sabah and Sarawak.
“We want to strengthen our position in the takaful industry,’’ he said.
Salihuddin said there was enormous potential for the industry to grow as its market penetration was only 7.7% compared to 40% for conventional insurance products.
He said the company wanted to create awareness that the takaful system was for everyone and it had nothing to do with one’s faith
PruBSN was founded in 2006 and has 216,308 policyholders of whom 35% are non-Muslims, and 10,000 agents of whom 50% are non-Muslims.
(THE STAR, Thursday June 4, 2009)
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