Takaful Insurance
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Get a Shariah-Compliant Suite to Consolidate & Accelerate your Takaful Business
The Beyontec Suite integrates underwriting, claims, re-takaful, channel management, channel commissions, financial accounting, and surplus distribution across all lines of business. The Suite along with its products are Shariah-compliant and supports Mudharabah and Wakalah models of Islamic insurance.
Product Highlights
With Beyontec as your insurance technology partner, you can deliver streamlined interactions with participants (individual accounts, cash value information, distribution of underwriting surplus, etc.), as well as effective segregation of risk and investment contributions.
Cloud Based Solutions
Keep up with shifting business trends with a core solution that is highly secure and scalable.
Islamic Based Insurance Product
The suite covers Motor Takaful, Fire Takaful, Family Takaful, and individual and group Takaful business requirements with ready-to-deploy pre-configured products.
Shariah Compliant
Beyontec Suite along with its products are Shariah-compliant and supports Mudharabah and Wakalah models of Islamic insurance.
Portal Driven Solutions
Establish an online presence to extend business activities online and serve more customers by interconnecting policyholders, brokers, surveyors, garages and all other business partners.
Pre-configured Products
The suite comes with 60+ pre-configured products for Takaful and Re-takaful Insurance business making it easy to launch new products and modify existing products to market needs.
Workflow Driven Solutions
The suite has the ability to create and manage business processes and queues dynamically. Besides, using the workflow engine, SLAs can be set to measure the TAT of each process.
All Takaful Products in One Solution
Takaful compliant products of the suite allows the determination of surplus and deficit shares of participants and operators, show solvency positions, map debit/credit direct transactions to accounting entities, etc.
Surplus Distributions
The suite calculate surplus on a periodical basis, based on product configuration and actuary input. Surplus distribution payment will be credited into participants designated bank account or can be deducted during subsequent renewal of General Takaful.
Support Wakalah Model / Mudharbah Model
Beyontec Suite along with its products are Shariah-compliant and supports Mudharabah and Wakalah models of Islamic insurance.
Business Rule Engine
The intuitive business rules engine of the suite allows insurer to configure both simple and complex rules definition using business-like terms for specific business needs and to meet regulatory norms.
Automated Rating Engine
The comprehensive rating engine of the suite allows insurers to configure their own ratings across products to arrive at the best premium rates.
Arabic (Multi Lingual)
Supports multi-lingual operations including Arabic to suit regional language preferences.
Notes & Diary
The Notes and Diary module helps keep track of the entire policy and claims history. It also sets follow-ups, shows existing notes and diaries with the newest at the top along with the subject, the originator, and the follow-up dates.
In-built Document Management System
Store all insured related documents in a centralised repository, while significantly reducing call times between policy handlers and claim handlers, with instant access to related information.
Ad-hoc Reporting
The suite comes with standard reports, but it can also be configured to generate ad-hoc reports, or reporting as per the regulatory needs.
