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THE BETTER APPROACH TO SUCCESSSION PLANNINGCase Study, Concepts and Debatable Ideas
Kenny OngTakaful Ikhlas Sdn Bhd
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The World Today…
13th April 2009
•Two Domino’s employees
•YouTube
•Apology from Domino’s after 48 hours
•1 million hits
•Twitter: questions on silence
•LinkedIn: suggestions by users in forum
BusinessWeek, May 4, 2009
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• Shareholder : MNRB Holdings Berhad (100%)
• Established Date : 18 September 2002
• Operational since : 2 July 2003
• Takaful Model : Al-Wakalah
• Business Portfolio : General and Family Takaful
• Number Products : More than 90
• Number of Participants : More than 1,800,000
• Number of Agents : More than 6,000
• Number of Staff : 490
• Regional Offices : 11
• Paid Up Capital : RM295 million
TAKAFUL IKHLAS CORPORATE PROFILE
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Referral
Employees
Specialist& Hospitals
Panel GP Clinics
EMPLOYEES & DEPENDANT• Claims Submission• Tracking of eligibility• Enquiries & Complaints • Employee benefit materials• Unions• Abuse of benefits
PANEL CLINICS•Processing Bills•Payment •Appointment and removal•Policies & Procedures•Tracking Entitlements •Issues & Complaints•Overcharging & Abuse •MC Verification
SPECIALIST & HOSPITALS•Issuance of GL•Hosp. Bank Guarantee/Deposit•Appointment and removal •Tracking Entitlements•Processing Bills•Payment •Hospital Reports
CLIENT
TISB
EASY ACCESS TO CARE•Panel of 2000 clinics
nationwide•All major hospitals recognises
our GLs•Appointment & management of
medical panel
1st CLASS SERVICE•Benefit & Procedure briefing
•Help Desk•Tri-annual Cost & Utilization
Report•Benchmarking
•Analysis & Recommendations
PEACE OF MIND•24/7 LOG Issuance •Cashless Admission
•Comments
TISB Medical/Health (EB/GHS) Solution
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2,7
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42.26
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500,000
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
3,500,000
4,000,000
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Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8
To
tal M
ed
ica
l C
os
t (R
M)
Pe
r Me
mb
er P
er M
on
th C
os
t (RM
)
ABC Medical Cost Experience with TISB ABC Medical Cost Experience & Projection
PMPM ABC Experience & Projection PMPM ABC with TISB
Inflation = 7.4% p.a.Inflation = 7.4% p.a.
Inflation = 19.86% p.a.Inflation =
19.86% p.a.
TISB Medical Cost Management
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100% RENEWED WITH US
SINCE 2009/2010
100% RENEWED WITH US
SINCE 2009/2010
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INTRODUCTION TO SUCCESSION PLANNING
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Intro:
“Cow don’t drink water cannot push cow head down”
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Assumption 1
1. Business Owners who have heirs
2. CEOs or Management who wish to instruct HR about SP
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Assumption 2
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Assumption 2
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Philosophy
Ultimate Objective of Marketing: “Get more people, to buy more things, more frequently, at higher prices.”
Sergio Zyman
“Retention and Loyalty are useless if No Conversion is happening.”
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Philosophy
“Retention and Loyalty are useless if No Conversion is happening.”
“Retention and Loyalty are useless if No Performance is happening.”
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Philosophy
Loyalty is misleading…
• Heavy Consumption ≠ Loyalty
• Loyalty ≠ Heavy Consumption
• Good Performance ≠ Retention
• Retention ≠ Good Performance
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PRACTICAL SUCCESSION PLANNING
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Right vs. Wrong SP Method
Succession Planning as per Job Positions
Succession Planning as per Leveling
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What’s your purpose for Succession Planning?
Succession Planning
=
Business Continuity Plan
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What’s your SP goal?
Business ContinuityBusiness Continuity
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Principles and Objectives
Principles Company’s Needs
1.Succession Planning of Key Leaders – Founding Directors (perpetual business theory)
2.Retention of Key Staff – especially younger ones
3.Transform into a Performance-based organization
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Principles and Objectives
Principles HR Philosophy
1.Equal / Fair
2.Happy / Productive
3.Hire Low, Train High
4.Performance vs Potential
5.Retention / Engagement
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The Wrong Approach
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The Better Approach
Business Strategy
OJT, Mentoring, Big-5, LP, PDP, SDP, Projects,
P/P Grid, SP Table, PDP, Premium,
Q12, C&B, ACDP, SCL, Transfers, Events
P/P Grid, Q12, PA, SDP, SP
Development
Motivation
Selection
Evaluation
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Two Types of Segmentation for Succession Planning
1. Demographic segmentation
2. Talent segmentation
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Demographic Segmentation - General
Veterans (Pre-Boomers)1934-1945
Boomers1945-1960
Gen X (Cusper, Buster)1960 - 1980
Gen Y (Millennials, Netster)
1980+
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Demographic Segmentation - others
1. Women, Working Mothers
2. Youtube generation
3. Working retired
4. Social Activists
5. Work/Life balancers
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Targeting: Identify and Attract
• Who are your Talents?
: A Talent for others does not mean a Talent for you
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Example: ABC’s Talent Profile
• Unwanted by big MNCs• Small companies• Boring Environment• No Growth/Learning• No MBA• Passion, Values, IQ (streetsmart)• Appreciate Chaos• Multitask• Passion to Learn
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Targeting: Identify and Attract
Group I
(Talent Pool)
23
45
PE
RF
OR
MA
NC
E
2 3 4 5
POTENTIAL• Identify
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Targeting: Identify and Attract
Group I
(Talent Pool)
Group II
( Potential)
Group III
( Performance)
Group IV
(Counseling)
2 3 4 5
23
45
PE
RF
OR
MA
NC
E
POTENTIAL• Identify
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SUCCESSION PLANNING VS. YOUR BUSINESS MODEL
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The McPlaybook*
Make it easy to eat• 50% drive-thru• Meals held in one
hand
Make it easy to prepare• High Turnover• Tasks simple to learn
& repeat
Make it quick• “Fast Food”• Tests new products
for Cooking Times
Make what customers want• Prowls market for new
products• Monitored field tests
*Adapted from: Businessweek , Februrary 5th 2007
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What is the Business Model?
USP
Market Discipline
Profit Model
•Tata Nano
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Business Model: Profit Model
Revenue
Cost
MarginCash Flow
Assets
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What is the Business Model?
USP
Market Discipline
Profit Model
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Market Discipline
"They are the most innovative"
"Constantly renewing and creative"
"Always on the leading edge"
"A great deal!"
Excellent/attractive price
Minimal acquisition cost and hassle
Lowest overall cost of ownership
"A no-hassles firm"
Convenience and speed
Reliable product and service
"Exactly what I need"
Customized products
Personalized communications
"They're very responsive"
Preferential service and flexibility
Recommends what I need
"I'm very loyal to them"
Helps us to be a success
Product Leadership
OperationalExcellence
CustomerIntimacy•Air Asia
•LV
•Ramly
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Operational Excellence(low cost producer)
Ref: The Discipline of Market Leaders, Michael Treacy & Fred Wiersema; 1995
Product Leadership(best product)
Customer Intimacy(best total solution)
Alignment & Consistency: Market Disciplines
Eg. GoogleTata Nano
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Operational Excellence(low cost producer)
Ref: The Discipline of Market Leaders, Michael Treacy & Fred Wiersema; 1995
Product Leadership(best product)
Customer Intimacy(best total solution)
Alignment & Consistency: Market Disciplines
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Operational Excellence(low cost producer)
Ref: The Discipline of Market Leaders, Michael Treacy & Fred Wiersema; 1995
Product Leadership(best product)
Customer Intimacy(best total solution)
Alignment & Consistency: Market Disciplines
Eg. Air Asia
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Operational Excellence
• Competitive price
• Error free, reliable
• Fast (on demand)
• Simple
• Responsive
• Consistent information for all
• Transactional
• 'Once and Done'
Operational Excellence
• Competitive price
• Error free, reliable
• Fast (on demand)
• Simple
• Responsive
• Consistent information for all
• Transactional
• 'Once and Done'
Customer Intimacy
• Management by Fact
• Easy to do business with
• Have it your way (customization)
• Market segments of one
• Proactive, flexible
• Relationship and consultative selling
• Cross selling
Customer Intimacy
• Management by Fact
• Easy to do business with
• Have it your way (customization)
• Market segments of one
• Proactive, flexible
• Relationship and consultative selling
• Cross selling
Product Leadership
• New, state of the art products or services
• Risk takers
• Meet volatile customer needs
• Fast concept-to- counter
• Never satisfied - obsolete own and competitors' products
• Learning organization
Product Leadership
• New, state of the art products or services
• Risk takers
• Meet volatile customer needs
• Fast concept-to- counter
• Never satisfied - obsolete own and competitors' products
• Learning organization
Alignment & Consistency: Disciplines, Priorities, and KPIs
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Operational Excellence(low cost producer)
Ref: The Discipline of Market Leaders, Michael Treacy & Fred Wiersema; 1995
Product Leadership(best product)
Customer Intimacy(best total solution)
Alignment & Consistency: Market Disciplines
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Operational Excellence(low cost producer)
Product Leadership(best product)
Customer Intimacy(best total solution)
Alignment & Consistency
HP well-balanced portfolio, mass customization
Acer super lean cost structure, aggressive pricing
Apple powerful products, premium
pricing, limited range
Still Doing well in
2009/2010
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SETTING EXPECTATIONS AND MONITORING PROGRESS
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MBO Standards
A Excellent
B Good
C Average
D Poor
E Useless
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MBO Standards
A Excellent
B Good
C Average Good
D Poor
E Useless
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MBO Standards
A Excellent Excellent
B Good Very Good
C Average Good
D Poor Not Good
E Useless Commit Suicide
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Competency Target Setting
1. Initiative
2. Teamwork
3. Problem Solving
4. Leadership
5. Integrity
What’s the problem here?
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Competency Target Setting
Initiative
1. Minimize problems quickly without needing to be asked
2. Seeks personal growth and professional self-development
3. Doing more than is required/expected in a job
4. Seeks new and improved solutions and approaches to completing assignments
5. Looks for opportunities to help others and team
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Competency Standards
3 Meets behavioral standards consistently. Is a good role model for others.
2 Meets behavioral standards some of the time. Needs improvement.
1 Does not meet behavioral standards. Require counseling or disciplinary actions.
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DEVELOPING AND MOTIVATING
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The Better Approach
Business Strategy
OJT, Mentoring, Big-5, LP, PDP, SDP, Projects,
P/P Grid, SP Table, PDP, Premium,
Q12, C&B, ACDP, SCL, Transfers, Events
P/P Grid, Q12, PA, SDP, SP
Development
Motivation
Selection
Evaluation
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Succession Planning Table: Example
Succession Plan Business-Critical Position 1
Ready Now 1-2 years > 2 years (Year estimated)
Head of Sales 1. Ramli Bakar
2. Joseph Wan
3. Selina Chan
1. Rebecca Ganaraj
2. Abu Hassan
3. Lee Tai How
1. Irene Soo
2. Fatimah Ibrahim
3. Kan Weng Tai
Business-Critical Position 2
Ready Now 1-2 years > 2 years (Year estimated)
Head of Operations 1. Wong Wai Chun
2. Selina Chan
3. -
1. Abu Hassan
2. Syed Kamil
3. Jessica Lee
1. Khoo Tien Wee
2. -
3. -
Business-Critical Position 3
Ready Now 1-2 years > 2 years (Year estimated)
Head of R&D 1. Michael Wong
2. -
3. -
1. -
2. -
3. -
1. Khariul Nizam
2. Jessica Lee
3. Wong Lai Sun
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Advanced Career Development Plan: Example
9. PERSONALITY PROFILE:
10. LEADERSHIP STYLE:
11. RELOCATABLE: Within Country Within Region Globally
12. PERFORMANCE/POTENTIAL RECORDS
Year Performance Rating
Potential Rating
Performance/ Potential Grid
Exceptions:
13. SHORT RANGE CAREER GOALS: State goals for the next 1-2 years
14. LONG RANGE CAREER GOALS: State Career goals for the 3-5 years
15. CAREER PLAN
Next Position Option 1 Readiness for Next Position Option 1
Next Position Option 2 Readiness for Next Position Option 2
Next Position Option 3 Readiness for Next Position Option 3
Next Position Option 4 Readiness for Next Position Option 4
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Advanced Career Development Plan: Example
9. PERSONALITY PROFILE:
10. LEADERSHIP STYLE:
11. RELOCATABLE: Within Country Within Region Globally
12. PERFORMANCE/POTENTIAL RECORDS
Year
Exceptions:
13. SHORT RANGE CAREER GOALS: State goals for the next 1-2 years
14. LONG RANGE CAREER GOALS: State Career goals for the 3-5 years
15. CAREER PLAN
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Advanced Career Development Plan: Example
11. RELOCATABLE: Within Country Within Region Globally
12. PERFORMANCE/POTENTIAL RECORDS
Year Performance Rating
Potential Rating
Performance/ Potential Grid
Exceptions: 14. LONG RANGE CAREER GOALS: State Career goals for the 3-5 years
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Advanced Career Development Plan: Example
Year
13. SHORT RANGE CAREER GOALS: State goals for the next 1-2 years
14. LONG RANGE CAREER GOALS: State Career goals for the 3-5 years
15. CAREER PLAN
Next Position Option 1 Readiness for Next Position Option 1
Next Position Option 2 Readiness for Next Position Option 2
Next Position Option 3 Readiness for Next Position Option 3
Next Position Option 4 Readiness for Next Position Option 4
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SCL: Specialist Career Ladder
•Telco, •Outsourcing, •Aerospace, •Biotech,•Digital media, •Animation, •M&A•Financial forensics•FSI
Associate Specialist (2)
Specialist (4)
Consultant (4)
Principal Consultant (1)
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SCL: Specialist Career Ladder
General incentives & privileges:
a. Extra monetary incentive
b. Official Specialist / Consultant job title.
c. Higher external training subsidy limit by company.
d. Tie-pin or pin
e. Certificate
f. Additional benefits
General qualifying/re-qualifying criteria:a. Meet the competency criteriab. Performance min B, PEDc. Min. 40 training hr/yeard. Physical contribution: i Mentoring ii Write-up iii Speaking iv Multimedia recording v R&D publication / Thesis
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Motivating Talent
Hope
Control
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Motivating Talent
Passion Job
GrowthTalent
Minimum Motivation Target: 2 out of 4
Delegation
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Curse of the Bell Curve
‘A’ Staff
‘B’ Staff
‘D’ Staff
‘E’ Staff
‘C’ Staff
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END NOTES
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“He has 20 years experience: 1 year of bad experience
repeated 20 times”
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Thank You.
soft copy of slides: http://totallyunrelatedrandomanddebatable.
blogspot.com/
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More About Takaful Ikhlas
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BUSINESS GROWTH
GROSS CONTRIBUTION (Gross Premium) :
• 2010/2011 : RM761 million
• 2009/2010 : RM615 million
• 2008/2009 : RM 579 million
• 2007/2008 : RM428 million
• 2006/2007 : RM224 million
• 2005/2006 : RM147 million
• 2004/2005 : RM66 million
• 2003/2004 : RM6.5 million
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AWARDS
• Global Leadership Award 2011 (Takaful Sector) - YBhg Dato’ Hj Syed Moheeb
• Kuala Lumpur Malay Chamber of Commerce Merit Industy Award 2011 (Insurance Sector) - YBhg Dato’ Hj Syed Moheeb
• MTA Takaful Awards 2011 - BancaTakaful: Top Person Producer Award, - BancaTakaful: Top Person Producer Award – Investment-Link Regular,- BancaTakaful: Top Person Producer Award – Investment - Link Single - Young Takaful Manager Award – Wan Jemizan W. Deraman
• Islamic Finance News 2008, 2009 & 2010 – Best Takaful Provider
• Takaful Leadership Awards 2010 – Best Marketing
• International Takaful Awards 2010 – Best Takaful Product for IKHLAS Medic Assist Takaful (IMAT)
• Euromoney Islamic Finance Awards 2010 – Best Takaful Provider
• The BrandLaureate SMEs Chapter Awards 2009, 2010 – Best Corporate Brands Insurance
• The Brand Laureate SMEs Chapter Awards 2008, 2009, 2010 – IKHLAS Medic Assist Takaful (IMAT) for Best Brands in Healthcare Insurance
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Some of our valued clients
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OUR CLIENTS
MARITIME INSTITUTE OF MALAYSIA (MIMA)CITRA ALTI SDN.BHDGOLDEN STAR LOGISTIC SDN BHDRJH CONSULTANTS & SERVICES SDN.BHDTGS MARITIME TECHNOLOGY SDN.BHDSOFT TRIANGLE SERVICES SDN.BHDBROADTEC TV R & D CENTER SDN.BHDBAKTI INSANI SDN.BHDKOPERASI PEKEBUN KECIL DAERAH MUAR BHDPERLADANGAN PESERTA KUNDANG SDN.BHDMOF MANAGEMENT SDN.BHDAXXICO SDN.BHDAMALGAMATED METAL BUILDERS (M) SDN.BHDYAYASAN PUSAT HEMODIALISISPERAK E - ORGANIZATIONMAAHAD TAHFIZ NEGERI PAHANGFICRA NOVA SDN.BHDESQ LEADERSHIP CENTERWELLNESS LIFESTYLES SDN.BHDWIRA KERJAYA SDN.BHDSURIA MEDIK SDN.BHDVR MARKETING (M) SDN.BHDDUALRANK (M) SDN BHDJENG YUAN RECLAIMED RUBBER SDN.BHDAEROTREE DEFENCE & SERVICESKHALID ALUMINIUM SDN.BHDMLC SHIPBUILDING SDN.BHDMILLELIA AQUAGHANI & COAEREX SDN.BHD
SCIENSIM SDN.BHDFRONTLINE SUPPORT SDN.BHDANJUNG PERKASA SDN.BHDBESPOKE TECHNOLOGY SDN.BHDBIMB FOREIGN CURRENCY CLEARING AGENCY SDN.BHDGAFIS (M) SDN.BHDMEDIABIZ CREATIVE SDN.BHDKOPERASI UITM BERHADABENA CONSULTANTSAL RAJHI BANKING & INVESTMENT CORPORATION (MALAYSIA) BHDWISE INNOVATIONS SDN BHDFADZILL CONSTRUCTION SDN BHDS . N . AKMIDA HOLDINGS SDN BHDYAYASAN PELAJARAN JOHORPELADANG HEITECH SDN BHDTELEVENTURE SDN BHDPERBADANAN ISLAM JOHORBRIGHTMARK SDN BHDKEMASIK HOLDING SDN BHDUNIKL MEDICAL SERVICES SDN BHD AL-MADINAH INTERNATIONAL UNIVERSITYFOREST PLANTATION DEVELOPMENT SDN. BHD.FOX COMMUNICATIONS SDN. BHD.YAYASAN ISLAM NEGERI KEDAHSYARIKAT PERUMAHAN NEGARA BERHAD. SERI TEMIN DEVELOPMENT CORPORATION (M) SDN. BHD. CENTRAL SPECTRUM (M) SDN BHD MAJUIKAN SDN BHD MAJLIS BANDARAYA PETALING JAYA ADMINISTRATOR RUMAH AWANG ALAK BETATAR & DAMAI RESIDENCE
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OUR CLIENTS
MALAYSIAN NPK FERTILIZER SDN BHD FOXBORO (MALAYSIA) SDN BHD CEMENT INDUSTRIES (SABAH) SDN BHD STEEL INDUSTRIES (SABAH) SDN. BHD. INTERNATIONAL CENTRE FOR EDUCATION IN ISLAMIC FINANCE. STRATEGI TEGAS SDN. BHDKUMPULAN DARUL EHSAN BERHADPRO ASSET MANAGEMENT SDN BHDINTERNATIONAL CENTRE FOR EDUCATION IN ISLAMIC FINANCE.MAJLIS PERBANDARAN SEPANGPELABUHAN TANJUNG PELEPAS SDN. BHDSENAI AIRPORT TERMINAL SERVICES SDN BHDPELEPAS BRIGANTINE CONTAINER SDN BHDPERMODALAN NASIONAL BERHAD.ISKANDAR REGION DEVELOPMENT AUTHORITY.SETIAUSAHA KERAJAAN NEGERI KEDSCOMI GROUP BHDASIAN FINANCE BANK BERHAD. KOPERASI ANGKATAN TENTERA BERHADTISISIT CORPORATION (M) SDN BHDINSTITUT BANK BANK MALAYSIAOMNI OIL (ASIA) SDN BHDPERUNDING UNIKON SDN BHDMALAYSIA CONVENTION AND EXHIBITION BUREAU XAIR COMMUNICATION SDN BHDSYARIKAT BEKALAN AIR SELANGORHLA ASSOCIATES SDN. BHD. CORPORATE LINE (M) SDN. BHD. PUNCAK NIAGA (M) SDN. BHD.WWE HOLDINGS BHD
SUASA EFEKTIF (M) SDN. BHD. SYARIKAT BEKALAN AIR SELANGORPLC INTERNATIONAL SYOR BERNAS S.BAFRIZAN TARMILI KHAIRUL AZHARKOPERASI KAKITANGAN BANK RAKYAT BERHAD.MALAYSIAN REINSURANCE BERHADLEMBAGA ZAKAT SELANGOR. (MAIS). UDA ANCASA SDN. BHD. RHB ISLAMIC BANK.TAKAFUL IKHLAS SDN. BHD.KUWAIT FINANCE HOUSE.RHB ISLAMIC BANK.MALAYSIAN REINSURANCE BERHAD. FELDA IFFCO SDN BHD BIMB INVESTMENT MANAGEMENT BERADIBFIM
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TISB’s Strength in Medical/Health
H&S
• Extensive hospital network in Malaysia – Goverment and Private
• Pre-existing conditions – waived
• Specified Illness – waived
• 30 days waiting period – waived
• Room & Board upgrade - Members have to pay only the difference in Room & Board charges. No co-sharing of 20% on overall bill
• Operations done in one surgery – Cashless with LOG (day-care)
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The Best Medical/Health Solution for your Company
• Understanding the Program
• Confirming the data on experience
• Customized Programs• Consider Dread Disease
Management
• Cost Inflation at reasonable levels
• Complete Analysis of staff disease trends
• Ownership of health
Year 1
Year 2Year 3
3 year programfor BEST RESULTS
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TISB Medical Cost Management
Pre-Authorization (LOG)
Red Flags & Alerts
Claims Management
Network Management
Greater scrutiny on doctors under watch list
Detect abuse & excessive charges
Review policy exclusion
Identify abnormal trends
Benchmarking of cost & Length Of Stay
Direct Billing for cashless access
Negotiate:• Preferred rates
on hospital fees• Package
rates/case rates Provider
relationship building
Collaboration with other major health insurer via LIAM
Verify eligibility & validity of claim
Manage unnecessary admission via Pre-Admission Assessment Form with guidelines drawn for greater scrutiny
Encourage daycare procedures
Query procedure cost and length of stay not within range
Review one day admissions
Call Center Medical ManagementCall Center Claims & Quality
Management
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TISB Hospital Management
Initiatives Value to Our Clients
1. Negotiate with Hospitals for Preferential Rates
• Savings from Room & Board Charges & Hospital Charges
• Preferential Rates are Passed Back to Clients
• Members can optimize their Medical Benefits Program
2. Conduct Bill Reviews / Profiling of Hospitals and Specialist Clinics
3. Query and Liaise with Hospitals and Specialist Clinics for Any Discrepancies
4. Constant Monitoring and Audits of Hospitals and Specialist Clinic Rates
5. Pre-Admission Assessment
6. Review & Redirect Outpatient Specialist Visits (after 6th visit)
Appropriate Charges for All Levels of Care
Ensure Service Level are Maintained and Upheld
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Passport to the Preferred Care Program
Member ID Card
Back
Front
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CONTACT US …..
Takaful Ikhlas Sdn. Bhd. (593075 U) IKHLAS Point, Menara 11A, Avenue 5, Bangsar South, No. 8, Jalan Kerinchi, 59200 Kuala Lumpur
TEL : 03- 2723 9999FAX : 03- 2723 9998EMAIL : [email protected] : www.takaful-ikhlas.com.my