Read Full Magazine Here. In the Islamic economy, structures, organizations, standards and instruments are all very new. The Global international organizations like the IMF or the World Bank have recently started to look at it seriously.
Institutions tend to predominantly have a view on the sole Islamic financial segment, which is the visible part of the Islamic iceberg. Indeed, the riper segment of the Islamic Economy is Islamic Finance. The Economy and the Finance are interrelated.
ZITOUNA TAKAFUL insurance company stands out by obtaining the certification of the best employers in Tunisia for the year 2022.
This certificate is awarded to the most efficient companies in terms of the working conditions offered and rewards the trust placed by employees in their management. This certification is mainly based on assessments addressed to employees and the company's management team.
This recognition confirms the strength and the commitment of ZITOUNA TAKAFUL employees and their continued desire to mobilize collective intelligence through common challenges.
Since its creation, ZITOUNA TAKAFUL has relied on its teams by developing the appropriate policies and programs to encourage and sustain the commitment of employees to give the best of themselves. A long-term journey supported by painstaking work and continuous processes to improve the quality of the teams' work.
Makrem BEN SASSI will always make sure to maintain a positive and motivating work culture in a caring environment and he is certain of his employee’s ingenuity, their strength and their capacity for resilience to meet the major challenges that are already looming on the horizon.
ZITOUNA TAKAFUL is a subsidiary of the MAJDA TUNISIA GROUP. The company presents a portfolio of diversified products intended to individuals as well as professionals and cooperate business.
ZITOUNA TAKAFUL insurance achieved a turnover of 85 MTD for the 2021 financial year, a growth rate of 20% and a net result of 8 MTD.
Today, it has a dense network of 52 agencies over a large part of Tunisian territory, including 3 branches in Tunis, Sousse and Sfax.
The company has been engaged since its constitution in the year 2011 in a process of continuous strategic digitalization which affects the functioning of the company as a whole: management, HR, customer experience, communication, distribution, production, etc. Its paid Capital is 25 million TND
ZITOUNA TAKAFUL obtained for three consecutive years (2020, 2021 & 2022), the international label "Elected Customer Service of the Year" in recognition of the quality of the services and its strategy based on customer satisfaction.
ZITOUNA TAKAFUL has taken on the challenges in a complex environment marked by economic uncertainties.
It is important to note that Makrem BEN SASSI, Managing Director of ZITOUNA TAKAFUL has strongly marked the company since its constitution. His vision is undeniable in implementing and strengthening relations with partners and clients. Makrem BEN SASSI has successfully managed to spread takaful finance across the country since joining Zitouna adventure in 2011. His career is full of success stories and remarkable achievement both in ZITOUNA TAKAFUL and the reinsurance industry through Imperial re, Alea, BEST re, Creechurch and Continental re.
His career started in 1997 and since then, he has acquired a diverse set of skills and expertise within the insurance/reinsurance sector.
He is famed for his dynamism and charisma to pursue his goals before time.
Makrem Ben Sassi is an Engineer graduated from ENSAM - Paris (Ecole Nationale Supérieure d’Arts et Métiers).
BL: What are your plans for the rest of 2022?
Makrem Ben Sassi: We aim to continue our development and to increase our share of the insurance market to 3% by the end of 2022. We remain very attentive to the opportunities that will arise on the market.
BL: What are the current challenges of takaful and also of Zitouna Takaful?
Makrem Ben Sassi: The Takaful Insurance sector in general and ZITOUNA TAKAFUL more specifically are experiencing many challenges, we can mention:
- The size of the market which is qualified as a small one.
- The small size of Takaful Insurance Companies.
- Chief among these is the lack of confidence towards the insurance companies and their products, also the lack of awareness about the importance of insurance in the daily life.
BL: Why was Zitouna Takaful certified as the Best Place to Work in Tunisia?
Makrem Ben Sassi: Since its beginnings, ZITOUNA TAKAFUL has relied on its teams by developing the appropriate programs to encourage and sustain their commitment. A long-term journey supported by hard work and continuous process to improve the quality of our services.
In ZITOUNA TAKAFUL, we will always make sure to maintain a positive and motivating work culture in a caring environment and we are certain that ZITOUNA TAKAFUL and its employees have the ingenuity and the strength to meet the major challenges that are already looming in the future.
BL: You have contributed a lot to the growth of takaful insurance, could you tell me what were the major contributions?
Makrem Ben Sassi: Being a modern and innovative company using new technologies and having a robust and well-structured portfolio of customers and products, allowed us to keep on track as planned.
As a result, for three years in a row, ZITOUNA TAKAFUL obtained the international label "Elected Customer Service of the Year" in recognition of the quality of the services and its strategy based on customer satisfaction, setting the bar too high.
BL: As a dynamic and young insurance leader in Tunisia, what were the major hurdles that you tackled and overpassed?
Makrem Ben Sassi: During her existence, ZITOUNA TAKAFUL as a young and innovative company has faced a various challenge, we can mention:
- Legislative framework.
- The lack of awareness about the Takaful products and their specificities.
- And as mentioned before, the lack of confidence towards the insurance companies and their products, also the lack of awareness about the importance of insurance in the daily life.
Despite the above, ZITOUNA TAKAFUL could reach a respectable position in the Tunisian market.
BL: How do you evaluate the progress of the Takaful sector in Tunisia compared to the conventional sector?
Makrem Ben Sassi: We consider that the Tunisian Takaful Insurance average annual growth is on a reasonable level (10%) compared to the growth rate of the conventional sector (5%), taking into consideration the economic recession in Tunisia.
BL: Are you satisfied with the present number of outlets in order to meet the needs of the network?
Makrem Ben Sassi: Today, Zitouna Takaful network is composed of 52 agencies through a large part of Tunisian territory, including 3 branches in Tunis, Sousse and Sfax.
We aim to develop our agency network and maintain our position as the best “Customer Service of The Year” by providing a high-quality service that meets the needs of our clientele and creating a distinctive, comprehensive, and modern brand through a diversified and complete range of products.
BL: Your aim is to offer an array of General Takaful and Family Takaful products and services, with a high added value and compliant with Islamic Finance, and to participate in the innovation and diversification of Tunisian insurance products as well as to contribute to the economic development of the country, in the durability of companies and in the social well-being of individuals, could you please detail on the above?
Makrem Ben Sassi: ZITOUNA TAKAFUL offers a wide range of Takaful General and Takaful Family products for individuals and companies in accordance with the principles of Islamic Finance.
We provide innovative services, by virtue of the Takaful Family products that covers all our clients’ needs on term of social cover and insurance saving solutions. These insurance products protect individuals, families, and companies against potentially financial losses.
BL: What is the impact of COVID-19 on takaful insurance?
Makrem Ben Sassi: The pandemic crisis allowed customers to recognize the importance of insurance, especially health and life insurance products. We think that life, health, and car insurance were the main streamline of growth during 2021 and 2022.
BL: How do you innovate in takaful insurance?
Makrem Ben Sassi: ZITOUNA TAKAFUL always aim to achieve growth and brake through the mainstream by:
- Developing new models of management where new and special segments are served.
- Helping create new market needs and adapting our products.
- keeping up with technological development, providing digital services by listening to the needs of subscribers and creating a distinctive quality of service.
