Takaful Teiv
Transparent and honest insurance
The HALAL way
About Us
Takaful Teiv is a concept to provide truly mutual insurance to a community, powered by the community itself.
We want to use a platform built on blockchain to enable full-trust peer-to-peer insurance products. Products where you know exactly what your premium dollars are going towards: claims of your peer community members, profit sharing back to the members and honest claim assessments.
Our mission is to restore the true intent of insurance: helping your community when it needs you and receiving help when you need it. We do this with total transparency on how your money is allocated and used solely to serve the community.
How does it work?
Digital native
We are building a digital first insurance platform that works on the true principals of Takaful. By bringing 100% transparency to where your insurance premiums go, how we invest them and what claims they pay out, we foster trust. And with trust we protect ourselves.
Takaful native
We are not in the business of maximising profits by insuring low risk customers or by finding ways to reject claims. Our mission is to make insurance accessible to every person and bridge the protection gap in our communities. We bring individuals together to build communities that protect each other.
You purchase a new policy
Surplus in premium refunded back to policyholders
Your premium contributions get added to a selected pool of similar insureds that you have full visibility to
Claim payouts managed and co-governed by community and Takaful Teiv. To provide transparency and trust
Takaful Teiv manages and operates the pool of insurance policies with 100% transparency
Insurance by the people, for the people
Transparent transactions
All monetary transactions including premium and claim pay-outs are published to provide transparency and accountability.
Blockchain enabled
Secure and scalable way to provide true community based insurance powered by blockchain.
Community based
Get protected and become part of a community. Create and use coverage and benefits that make the most sense for your community.
Frequently Asked Questions
What products will you offer?
We will launch motor insurance plans in Malaysia as our first product. Our goal is to then expand into other Property & Casualty insurance products (e.g. Home insurance and Travel) in the region.
When do you launch?
We are still developing the product and aim to launch soon. Please share your interest with us here; this will help us launch faster!
Is Takaful only for Muslims?
No, Takaful is an Arabic word that means solidarity and is used to refer to Insurance models that are pool based. Anyone can buy Takaful. That said, all of our products will be Shariah compliant for the benefit of our muslim brothers and sisters.