Life at Pak Qatar
Our Key Business Functions
This function serves as the core of our business and deals with areas of Takaful
policy making, policy implementation processes, claim processing, underwriting,
new member assessments, medical examinations, systems maintenance and customer assistance.
The operations department depends on qualified and experienced industry professionals
for its continued growth and success.
Customer assistance is a major area covered
by our operations department. All information required by customers related to the
policies they have purchased is disseminated by operations. Changes to policies,
updates, deletions (servicing) are all carried out here.
Actuarial science is the discipline that applies mathematical and statistical methods
to assess risk in the insurance and finance industries. Actuaries are professionals
who are qualified in this field through examinations and experience.
includes a number of interrelating subjects, including probability and statistics,
finance, and economics. Historically, actuarial science used deterministic models
in the construction of tables and premiums.
In traditional life insurance (Takaful),
actuarial science focuses on the analysis of mortality, the production of probabilistic
scenarios, and the application of formulae to produce scenarios from which appropriate
policies can be derived.
Finance and Accounts
Finance is one of the most important aspects of business management. Without proper
financial planning a new enterprise is unlikely to be successful. Managing money
(a liquid asset) is essential to ensure business success, both for individuals and
Our finance and accounts section is of immense significance to the
organization and manages the funds entrusted to us. Core areas of this crucial function
include contribution management, investment/fund management, asset management, payment
processing, ensuring regulatory compliance, tax management, payroll processing and
Training and Shariah Compliance
Training in an organizational context is the field concerned with activity aimed
at bettering the performance of individuals and groups in organizational settings.
All organizations rely on qualified, competent and appropriately trained individuals
for continued success. Being a services firm, this fact cannot be overstated. PQFTL
attaches great importance to the training and development of its staff. In a growing
industry where technically qualified individuals are hard to find and where the
presence of the appropriate mindset is crucial, training serves to bring our workforce
up the standards of service expected from top organizations in our industry. Our
training department works very closely with our frontline sales staff to ensure
our points of customer contact are appropriately managed. Training encompasses skills
in three realms: soft skills, product/process knowledge and technical skills training.
Being a Shariah compliant firm, we strive to ensure adherence to its dictates in
everything we do. Our Shariah compliance function aims to identify and address issues
related to Shariah compliance and ensure new product and process development rely
on Shariah principles from the beginning. Shariah audits are also carried out periodically.
The human resource (HR) department is responsible for the well-being of the company’s
most important and crucial asset-its workforce. The objective of the department
is to ensure the maintenance of a competent, qualified and motivated workforce that
can best help to achieve the company’s vision. HR is responsible for hiring and
recruitment, compensation management, vision dissemination, personnel management,
employee wellness and the maintenance of an HR information system.
One key area
of interest for HR is to recruit and select individuals with the appropriate mindset
needed to excel in our line of business and help meet our strategic objectives.
The formation of a team of dedicated and passionate people is instrumental in helping
us to excel in this relatively nascent field of Shariah-compliant finance.
Marketing & Corporate Communication
The Marketing & Corporate Communication Department has been entrusted with the responsibility of handling the company’s most valuable asset - its image. The Marketing & Corporate Communication Department serves as the face of the company and is responsible for communicating with and responding to queries and concerns raised by its valuable clients, as well as building the image of Pak-Qatar Family & General Takaful Limited Company as reliable and trustworthy Takaful operator Company in Pakistan.
The core activities undertaken by the Marketing Department are:
- Conducting marketing and promotional activities (image building/branding)
- Making arrangements for events/seminars/presentations/summits/conferences
- Publications of Pak-Qatar Takaful Group Annual Reports, brochures and other publicity material
- Handling print and electronic media pertaining to company's news items/advertisements/interviews/press releases
- Website management
Sales (Consumer and Corporate)
Our Consumer and Corporate Sales departments serve as our frontline divisions directly
interacting with our customers. While the consumer department sells our products
to individuals, the corporate side sells takaful products to organizations. Both
departments are based in Karachi but maintain presence in all major cities of Pakistan.