Pos Malaysia Bhd expects revenue of between 10%-15% next year from premiums worth RM10mil to be sold following the strategic partnership with Etiqa Takaful Bhd. The postal service provider has inked the partnership deal with Etiqa Takaful, to offer the pioneer family takaful plan, Pos Khairat Takaful. The plan is available at 700 Pos Malaysia branches nationwide.
Speaking to reporters after the official product launch yesterday, Pos Malaysia group chief executive officer Datuk Mohd Shukrie Mohd Salleh said the service was a way for the company to expand revenue stream.
Mail operations contribute 30% to revenue and by providing this service, we can leverage on our network throughout the country,” he said. Besides the 30% revenue contribution from the mail operations, an income of just slightly more, is derived from the courier service.
The rest is from retail operations, including partnerships with insurance companies. Other than Etiqa Takaful, Pos Malaysia now has 14 companies listed on its portfolio of insurance panels, said Mohd Shukrie.
Meanwhile, the chief executive officer of Maybank Ageas Holdings Bhd (the parent company of Etiqa Takaful) Kamaludin Ahmad said Pos Khairat Takaful had been marketed since May this year.
To date, 4,996 certificates with a total contribution of RM331,420 had been issued. “The partnership aims to cover more than 160,000 participants next year by offering the Khairat plan to all Pos Malaysia’s customers, aged between 18 and 70,” Kamaludin said.
Customers can subscribe to the plan that also covers a spouse and up to three children for RM60 annually, with the flexibility of selecting higher benefits for RM80.
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