Kuala Lumpur: A well prominent and trusted Halal Advisory and Consulting Company, HQC Commerce Sdn Bhd, has recently signed a Memorandum of Understanding (MOU) with a leading and innovative Takaful Tenfold agency, to collaborate on the promotion of Keyman Takaful products. The MOU was signed during the Halal Business Conference 2022 hosted at World Trade Centre, Kuala Lumpur.
Keyman Takaful is a specialized insurance product that provides coverage for key personnel in a company, such as top executives or key employees, in the event of death or disability. The coverage helps to protect the financial stability of the company in the event of the loss of a key employee.
In a statement, the Chief Executive Officer of HQC, Datuk Khairul, explained why the company decided to launch this initiative: “We took this initiative because we really understand the struggling of many companies, especially the Micro, Small, and Medium Enterprises to sustain their business in the event of the death or disability of either their business director or one of their key employees.” This could have many repercussions, such as rendering it impossible to compensate the heir of the deceased business partners or even to hire new talented personnel due to a lack of cash reserves in the company. It is possible that many of the businesses will ultimately decide to shut their doors, which will result in the termination of their employees’ jobs.
And even though Zabrina, a Wealth Senior Specialist at Tenfold Agency, stated in a statement that, “We are thrilled to be working with HQC, which will facilitate our connection to these influential figures in our field and propel Keyman Takaful to the forefront of the market for risk management solutions for businesses. We believe that this partnership will help to raise awareness and promote the adoption of Keyman Takaful, which is essential to the growth and stability of any organisation. Protecting key personnel is essential to any organization’s success.”
The awareness talk at the Halal Business Conference was given by the Tenfold Agency and during the sharing session, the industry players, the majority of whom were business owners, who had attended the Halal Business Conference expressed their excitement and stated that they believe the Keyman Takaful products that will be introduced through the MOU will fill a gap in the market and provide valuable protection for companies and their key employees.
The memorandum of understanding represents a significant step forward for the companies’ long-term viability, and it is anticipated that the collaboration will result in the successful promotion of Keyman Takaful products, which will be to the mutual benefit of both the companies and their employees.