Product Cycle

Having innovative products is a necessity in today’s competitive environment. The extent of innovation will depend on where in the product life cycle the takaful operator is designing or revising a product.

Actuarial Partners can assist in all aspects of the product development cycle, including:

  • Identification and research of the target market
  • Policy design and pricing with sensitivity testing
  • Competitive analysis
  • Business plan projection
  • Management of risk including the use of retakaful and other financial instruments
  • Analysis of capital required
  • Measurement of return to policyholders and operator
  • Analysis of existing experience for mortality, lapsation, investment and expenses for continued development after the product is sold

Product pricing: Medical & Health Takaful

We are an industry leader in pricing medical and health takaful products. We can also assist in specific medical product development and pricing, and subsequently track results.