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Insurans Islam TAIB Completes Actuarial Human Capital Development Project

Bandar Seri Begawan, Brunei, August 17, 2017 --( Insurans Islam TAIB Holdings Sdn Bhd and its subsidiaries Insurans Islam TAIB General Takaful Sdn Bhd and Insurans Islam TAIB Family Takaful Sdn Bhd has completed an actuarial human capital development project – a first in Brunei. Over the last 2 years, 27 key members of Insurans Islam TAIB have undergone rigorous training sessions and workshops, primarily aimed at increasing technical know how in the takaful business. The actuarial human capital development project is delivered by learn@AP, the foremost professional actuarial education and training provider in Southeast Asia.

“This is the first time a takaful company in Brunei has undergone a structured actuarial human development capital project. This will bring significant positive change to the company as well as to the landscape of the takaful and insurance industry in Brunei. The project was made possible with very strong support from our Board of Directors said, “Haji Osman Bin Haji Md Jair, Managing Director of Insurans Islam TAIB Group of Companies. Haji Osman is also the Chairman of Brunei Insurance & Takaful Association since 2014.

This is a major milestone for the takaful and insurance industry in Brunei. Insurans Islam TAIB recognises that increased technical know how, specifically in the field of actuarial science, enables them to better serve their customers through effective and efficient products as well as sound financial management. This also demonstrates Insurans Islam TAIB’s commitment towards attracting and retaining a strong and professional workforce, and towards promoting the growth, sustainability and professionalism of the Bruneian financial system.

The actuarial division of Insurans Islam TAIB was established in 2015. Today, it is the largest actuarial division in Brunei and headed by Arif Leong, the first and only actuary in Brunei. According to Arif, this human capital development project gave the entire company a deep insight on actuarial business projections, product pricing, actuarial valuation as well as other actuarial management issues such as treating customers fairly.

Insurans Islam TAIB's commitment to developing a professional takaful workforce with strong technical knowledge puts them light years ahead of their peers. It is also in line with the goals and objectives set out in Brunei Vision 2035.
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Nicholas Yeo
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