The system in place was operated via home grown legacy application with limited functionality and all the operating activities and accounting was handled manually. The Takaful business was operating on the initial Mudharabah model whereas the industry was way ahead with the Wakala model. 

 So, the client wanted a single, stable and mature Takaful core system to address both Family and General Takaful business. Client was looking for a system with end-to-end automation, automated Takaful fund management, support for different Takaful models, automated reporting and also integrated stakeholder engagement portals. 

KGiSL provided NSure Core Takaful Suite as single core system for both Family Takaful and General Takaful business. KGiSL also offered a completely automated Takaful accounting with flexibility to setup rules for each product separately. This enabled fine control on pricing and costs allocation across funds and charges. Client was provided with NSure Digital Solutions-Channel Portal for distribution to provide quotes and complete sales online. KGiSL also assisted in transition from Mudharabah to Wakala model. KGiSL had integrated the NSure Financials (General Ledger) solution, which helped in fund segregations and reporting for Family and General Takaful business and Takaful funds 

This enabled in

• Gathering a single customer view across all lines, customer accumulations, profitability and etc. 
• Centralizing control of distribution (multi-channel, multi-tier hierarchy) with varying rules by product 
• Integrating finance for both Family and General business to enable seamless customer experience and cost efficiency