Great Eastern Takaful
Great Eastern Takaful Berhad is a Malaysian Shariah-compliant takaful operator providing family, health, wealth accumulation, and corporate takaful products to individuals, businesses, and the B40 segment via direct advisors, six bancatakaful bank partners, and digital platforms.
- Company typePrivate
- Founded2010
- HeadquartersKuala Lumpur, Malaysia
- Headcount101–250
- GTM typeB2C
- OfferingServices
What Great Eastern Takaful does
Great Eastern Takaful Berhad (GETB) is a Malaysia-domiciled Shariah-compliant takaful operator providing family, health, wealth accumulation, and corporate takaful products to individuals, families, businesses, and the B40 lower-income segment. Founded in December 2010 as a joint venture between i Great Capital Holdings Sdn Bhd (a subsidiary of Great Eastern Holdings Limited) and Koperasi Angkatan Tentera (M) Berhad (the Malaysian Armed Forces Cooperative), the company operates exclusively within Malaysia through a multi-channel architecture consisting of a recruited Takaful advisor direct sales force, six bancatakaful bank partnerships (OCBC Al-Amin, LPPSA, Co-opbank Pertama, MBSB Bank, Bank Rakyat, and Bank Muamalat), 21 nationwide service centres, and digital self-service platforms (GETCare mobile app and the i-Get In Touch portal). It is also appointed by the Government of Malaysia as administrator of the mySalam national health protection scheme under Bank Negara Malaysia supervision, giving it an exclusive position in serving B40 participants.
The product portfolio is built on Shariah-compliant risk-sharing principles, with participants contributing to a Tabarru' (charitable) fund that underwrites mutual aid. Core offerings include family takaful plans such as i-Great Nova (hibah-structured family protection), health takaful plans (i-Medik Asas, i-Great MediCare, i-Great MediMax, i-Great MediHarapan), and investment-linked wealth accumulation plans. A modular rider architecture extends coverage through medical riders (i-Medi Rider, i-Medik Rider, i-Medik Xtra, i-Medik Xtender, i-Medi Shield variants, and i-Medi Evolusi Rider), critical illness, accidental death and disability, and waiver of contribution riders. The Great Journey healthcare pathway connects policyholders to a network of clinics and hospitals with cost-management features, and is integrated into products such as the i-Medi Evolusi Rider which carries up to RM2 million overall annual limits and 5% co-takaful. Supporting technology includes a Tabarru' fund management system, online Takaful Kalkulator, and digital acquisition paths for simple plans.
Revenue is generated through recurring Takaful contributions across family, health, corporate, and rider products, distributed via the multi-channel architecture and priced through personalized advisor or calculator-based quotes that vary by age, coverage level, plan type, and health profile. The 2025 interim medical repricing measures, suspension of new Direct Debit Authority applications from January 2025, and updated servicing arrangements with Bank Muamalat indicate active management of medical inflation and operational risk across the portfolio. The company is private, PIDM- and PDPA-compliant, and operates without any public funding rounds or disclosed valuation.
Great Eastern Takaful firmographics
Firmographics- Name
- Great Eastern Takaful
- Legal name
- Great Eastern Takaful Berhad
- Website
- https://greateasterntakaful.com
- Company type
- Private
- Founded year
- 2010
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Great Eastern Takaful Berhad is a Malaysian Shariah-compliant takaful operator providing family, health, wealth accumulation, and corporate takaful products to individuals, businesses, and the B40 segment via direct advisors, six bancatakaful bank partners, and digital platforms.
- Ownership category
- akta.pro rank
Great Eastern Takaful industry classification
Industry- Product category
- Family and Health Takaful (Islamic Insurance)
- NAICS
- Insurance Carriers and Related Activities (524), Health and Welfare Funds (525120), Other Insurance Funds (525190)
- SIC
- Accident & Health Insurance (6321), Life Insurance (6311), Hospital & Medical Service Plans (6324)
- akta.pro primary industry
- Takaful Bancassurance (Islamic Insurance Distribution) (FSABAGAM)
- akta.pro secondary industries
- Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH), Group/Employer-Sponsored Critical Illness & Hospital Indemnity (FSAIAKAD), Self-Funded (ASO) Group Health Plans & Stop-Loss (FSAIAFAB)
Keywords
Where Great Eastern Takaful is headquartered
LocationHeadquarters
- HQ city
- Kuala Lumpur
- HQ country
- Malaysia
- HQ region
- Asia
Offices2 records
Markets served
Great Eastern Takaful business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Supply Chain, Infrastructure, Others
Revenue model
- Takaful Contributions (Family Takaful): Recurring contribution payments from participants in family takaful plans. Contributions are allocated between individual participant accounts and the Tabarru' (charitable) fund. Family takaful includes term plans, savings plans, investment-linked plans, and health plans.
- Health/Medical Takaful Plans: Medical and health takaful plans providing hospitalization and medical expense coverage with various room and board options, annual limits, and deductible/co-takaful structures.
- Corporate/Business Takaful: Group takaful plans for businesses including employee benefit packages, group health coverage, and credit takaful products through bank partners.
- Takaful Riders (Supplementary Benefits): Optional rider attachments to basic takaful plans including critical illness riders, accidental death/disability riders, healthcare riders, and waiver of contribution riders, adding to total plan cost.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | i-Medi Evolusi Rider - Outpatient medical card with high annual limits |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels7 records
Great Eastern Takaful product offering
Product offeringCore offering
Great Eastern Takaful Berhad provides Shariah-compliant family and health protection takaful products to individuals, families, and corporate clients in Malaysia. Its core offerings include family takaful plans (death, disability, hibah-based coverage), health and medical takaful plans (including hospitalization, surgical, and outpatient coverage with annual limits up to RM2 million), investment-linked wealth accumulation plans, online direct-purchase plans, and corporate/group takaful for employee benefits. Contributions are allocated to participant accounts and the Tabarru' (charity/risk-sharing) fund, with claims settled in accordance with Islamic principles.
Product overview
Great Eastern Takaful offers a comprehensive Shariah-compliant takaful product portfolio through its Personal Takaful (Takaful Individu) and Corporate Takaful (Takaful Perniagaan) lines. The personal offering consists of core protection categories: Family Takaful (Takaful Keluarga) for death and disability coverage, Health Takaful (Takaful Kesihatan) for medical expenses, Wealth Accumulation (Takaful Simpanan dan Pelaburan) for savings and investment-linked plans, and Online Takaful (Takaful Atas Talian) for direct digital purchase. These are supplemented by a wide range of Rider Takaful products including medical riders (i-Medi Rider, i-Medik Rider, i-Medik Xtra Rider, i-Medik Xtender Rider, i-Medi Shield variants, i-Medi Evolusi Rider), health plans (i-Medik Asas, i-Great MediCare, i-Great MediMax, i-Great MediHarapan), and specialty products like i-Great Nova. The portfolio also includes digital service platforms (GETCare App, i-GET In Touch Portal) and The Great Journey healthcare pathway program. Corporate Takaful covers employee group protection needs.
Differentiator
Problem solved
Functional benefit
Brands
- GETCare: Mobile application for Great Eastern Takaful customers to access policy information and services
- i-Get In Touch (iGIT)
- Great Eastern Cares
- mySalam
- The Great Journey
Products and services
- Takaful Keluarga (Family Takaful)
Quantifiable outcome
- At least 80% of Takaful participants experienced Tabarru' and contribution increases of less than 10% under interim measures
- +5 more outcomes
Companies that use Great Eastern Takaful
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
Great Eastern Takaful technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Great Eastern Takaful partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- OCBC Al-Amin Bank BerhadcoreBancatakaful partnership for distribution of credit takaful and bancatakaful products through OCBC Al-Amin Bank's branch network across Malaysia. Part of core ingredient of growth through multi-channel engagement with bank partners.
- Lembaga Pembiayaan Perumahan Sektor Awam (LPPSA)corePublic sector housing loan financing body partnership for credit takaful products. Also involves MRTT (Mortgage Reducing Term Takaful) products for public sector employees. Serves as distribution channel for takaful solutions to public sector workers.
- Co-opbank Pertama Malaysia BerhadminorCooperative bank partnership for bancatakaful product distribution through cooperative banking network.
- MBSB Bank BerhadminorBancatakaful partnership for distribution of Islamic banking-linked takaful products through MBSB Bank's branch network.
- Bank Kerjasama Rakyat Malaysia BerhadminorMalaysian cooperative bank partnership for takaful product distribution leveraging the extensive Bank Rakyat branch network.
- Bank Muamalat Malaysia BerhadcoreIslamic banking partnership with updated servicing arrangements announced. Core bancatakaful partner for Shariah-compliant takaful product distribution through Bank Muamalat's network. Strategic partner for delivering innovative takaful solutions.
- Bank Negara MalaysiacoreRegulatory authority overseeing Great Eastern Takaful's operations and supervising the mySalam national health protection scheme administered by the company.
Scale indicators2 records
Recent moves6 records
Expansion highlights6 records
Great Eastern Takaful competitors and assessment
Company assessmentDirect peers
- Syarikat Takaful Malaysia Keluarga Berhad: Largest dedicated family takaful operator in Malaysia with overlapping family, medical and investment-linked takaful offerings; competes head-on with GETB across individual and group segments.
- Hong Leong MSIG Takaful Berhad: Malaysian takaful operator offering family and medical takaful products through agency and bank distribution, ranking in the same smaller-tier competitor set as GETB.
- Etiqa Family Takaful Berhad: Malaysian family takaful operator offering a comparable suite of Shariah-compliant protection, health and wealth-accumulation plans via agency, bancatakaful and digital channels, making it the closest direct competitor to GETB.
- Prudential BSN Takaful Berhad: Bancatakaful joint venture between Prudential and Bank Simpanan Nasional providing family takaful and health plans; similar JV structure and bank-distribution model to GETB's bancatakaful business.
- Etiqa General Takaful Berhad: General takaful arm of the Etiqa group offering group, credit and corporate takaful products; overlaps directly with GETB's corporate/business takaful and group health lines.
Regional players
- Takaful Asia Pte Ltd: Singapore-based Islamic insurer offering family takaful to a similar Asian Muslim customer base; useful regional benchmark for Shariah product design even though it does not compete directly in Malaysia.
Others
- Bank Muamalat Malaysia Berhad: Islamic banking partner of GETB for bancatakaful distribution; comparable Shariah-compliance focus, and its recent servicing arrangement update with GETB signals it as an ecosystem participant rather than direct competitor.
Broad incumbents
- Great Eastern Life Assurance (Malaysia) Berhad: Conventional life insurance arm of the same Great Eastern group that backs GETB; while operating under conventional (non-Shariah) framework, it offers overlapping life, health and investment-linked products to the same Malaysian customer segments.
- Prudential Assurance Malaysia Berhad: Large Malaysian life and health insurer with broad incumbent agency force and bancassurance; competes for similar protection, health and wealth customers even though it is conventional rather than Shariah-compliant.
- Allianz Life Insurance Malaysia Berhad: Established Malaysian life and health insurer with multi-channel distribution; a broad incumbent that competes with GETB across medical cards, investment-linked and group benefits.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Great Eastern Takaful social profiles
Digital presenceGreat Eastern Takaful compliance and trust
Trust signalCompliance2 records
Great Eastern Takaful financial estimates
Financial estimateRevenue estimate
Valuation estimate
Great Eastern Takaful leadership team
Management profileNumber of profiles
Profiles6 records
Great Eastern Takaful funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Great Eastern Takaful M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Great Eastern Takaful
What does Great Eastern Takaful do?
Great Eastern Takaful Berhad provides Shariah-compliant family and health protection takaful products to individuals, families, and corporate clients in Malaysia. Its core offerings include family takaful plans (death, disability, hibah-based coverage), health and medical takaful plans (including hospitalization, surgical, and outpatient coverage with annual limits up to RM2 million), investment-linked wealth accumulation plans, online direct-purchase plans, and corporate/group takaful for employee benefits. Contributions are allocated to participant accounts and the Tabarru' (charity/risk-sharing) fund, with claims settled in accordance with Islamic principles.
Is Great Eastern Takaful a public or private company?
Great Eastern Takaful is a private company. It is classified as corporate owned and is currently operating.
When was Great Eastern Takaful founded?
Great Eastern Takaful was founded in 2010. It employs 101 to 250 people.
Where is Great Eastern Takaful based?
Great Eastern Takaful is headquartered in Kuala Lumpur, Malaysia, in the Asia region.
How does Great Eastern Takaful make money?
Four revenue lines are on record. Takaful Contributions (Family Takaful) is the primary driver. The others are health/Medical Takaful Plans, corporate/Business Takaful and takaful Riders (Supplementary Benefits).
Who are Great Eastern Takaful's main competitors?
Direct peers on record are Syarikat Takaful Malaysia Keluarga Berhad, Hong Leong MSIG Takaful Berhad, Etiqa Family Takaful Berhad, Prudential BSN Takaful Berhad and Etiqa General Takaful Berhad. Takaful Asia Pte Ltd is listed as a regional player. Bank Muamalat Malaysia Berhad is listed as an others. Broad incumbents are Great Eastern Life Assurance (Malaysia) Berhad, Prudential Assurance Malaysia Berhad and Allianz Life Insurance Malaysia Berhad.
Does Great Eastern Takaful have an API?
No public API is recorded for Great Eastern Takaful.
What industry is Great Eastern Takaful in?
Great Eastern Takaful's product category is Family and Health Takaful (Islamic Insurance). Its primary akta.pro industry code is FSABAGAM, Takaful Bancassurance (Islamic Insurance Distribution), with a secondary code of FSABAGAH, Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam). Its NAICS code is 524 and its SIC code is 6321.