Development Strategy of Islamic Funeral Insurance in Indonesia:

Synergy Bundling Product between Islamic Insurance Company

and Commercial Funeral Institution

Abdul Ghoni

and Ahmad Rodoni

Syarif Hidayatullah State Islamic University (UIN) Jakarta

Keywords: Islamic Insurance, funeral, development.

Abstract: The purpose of this paper is to analysis the strategy of development of Islamic funeral insurance in

Indonesia. This research uses descriptive method of analysis with qualitative approach using

Etnometodology approach. The conclusion of the dissertation is the development of the Islamic funeral

Insurance will be more effective through the product collaboration with the funeral institution. Islamic

funeral Insurance development strategy in Indonesia is divided into 2 aspects, first, the strategy of business

developments of Islamic Insurance funeral and second, strategy development of Islamic Insurance funeral

product.

1 INTRODUCTION

Islamic insurance industry generally has assets

and penetration that are relatively small compared to

assets and penetration of conventional insurance

(Putri, 2016). Compare than global Islamic finance,

Islamic Insurance only has a market share of 1% of

the total global financial assets with a predicted

value in 2018 of $ 3 Trillion, consisting of more than

600 Islamic financial institutions in 75 countries

around the world. To increase market penetration,

the Islamic Insurance industry needs to make many

breakthroughs so that it can reposition itself in

financial markets, one of which is to create new

products. One product that has the potential to be

developed, especially in developing countries like

Indonesia, is a Islamic Micro Insurance product

(Kamaruddin, 2004). One of the Islamic micro

Insurance products that has the potential to be

developed is Islamic Funeral Insurance (Susan,

2012).

Islamic micro insurance (Takāful micro)

products in several studies can be marketed alone

(Erlend Bergb, 2001). However, there are many

studies which state that Takāful micro products

should be marketed with joint products (bundling

products) with certain institutions. Islamic Funeral

Insurance is a product that is still relatively new in

Indonesia, along with the development of

commercial and social services for professional

funeral institutions in Indonesia, it is hoped that the

Islamic Funeral Insurance products will also develop

well (Nitesh Behare, 2013).

Funeral costs, especially by being buried, are

getting higher and higher, especially in developed

countries, such as America, Europe, Australia and

even in developing countries in Africa (Anne Case,

2013). Burial costs are the main factor that

challenges Muslims in the world, in addition to other

factors, such as limited land, regulatory provisions in

a country and the majority culture and religion. The

burial in Islam refers to the Qur'an and Al Hadist in

detail has been explained and become fardh kifayah

for all Muslims, Islam teaches Muslims who die

must be bathed, condoned, inscribed and buried.

Islam does not regulate cremation, because no texts

clearly mention cremation (Fuusje de Graaff, 2016).

In the Qur'an, Allah SWT has said about the funeral,

namely:

“Then Allah sent a crow searching in the

ground to show him how to hide the disgrace of his

brother.

He said, "O woe to me! Have I failed to be

like this crow and hide the body of my brother?"

And he became of the regretful.”

"..From the earth We created you, and into it

We will return you, and from it We will extract you

another time."

Ghoni, A. and Rodoni, A.

Development Strategy of Islamic Funeral Insurance in Indonesia: Synergy Bundling Product between Islamic Insurance Company and Commercial Funeral Institution.

DOI: 10.5220/0009918801190126

In Proceedings of the 1st International Conference on Recent Innovations (ICRI 2018), pages 119-126

ISBN: 978-989-758-458-9

119

The burial industry in the world is an industry

that is quite old and big. In America, the

management of funeral activities is a business that is

quite large valued at $ 20.7 billion per year which is

carried out by 115,547 employees with 25,429

business managers. Ref. [8] In Japan, the value of ¥

1.6 trillion involves 6,500 managers, in Southeast

Asia the accumulation of funeral businesses in 4

countries, namely Indonesia, Malaysia, Singapore

and Thailand is estimated to exceed $ 4.16 billion.

The management of funeral funds is also supported

by insurance financial institutions that also market

funeral insurance products that contribute to

developing the insurance industry in developed

countries worth billions of dollars.

In Indonesia, funeral management is a

relatively new business that began with the

emergence of an elite tomb area by the Lippo group,

namely Sandiago Hills Memorial Park, after which

also appeared the Islamic grave manager, Al Azhar

Memorial Garden, after that another manager,

Firdaus Memorial Park. The development of this

exclusive funeral activity drew criticism and

criticism from the public, which was finally

responded by the Indonesian Ulema Council by

publishing a Haram Fatwa for the management of

the Luxury Tomb. In this fatwa, it is stated that the

sale and purchase of Luxury tombs is haram, but for

simple graves, the law is permissible, aiming to

maintain that Muslims get proper services and not

mix them between Muslim and non-Muslim tombs.

Commercialization of funeral business in

various countries presents a formidable challenge for

Muslims in carrying out the management of tombs

that are in accordance with sharia and in a social

way. In many developed countries, such as in

Europe, America, Japan and Australia, minority

Muslim communities have established social

institutions centered on mosques to gather waqf

funds as a solution to the establishment of Islamic

funeral, but due to the limited number and value,

there are still many Muslims who are not served

even their heirs must sell valuables for burial fees.

This is the reason behind the author doing

research on Islamic Funeral Insurance, through the

concept of Islamic Insurance, the solution of funeral

costs can be fulfilled through proper financial

planning. The concept of Islamic Insurance will

form a mutual fund (tabarru ‘fund) jointly and

organized, so that the accumulated funds collected

will be sufficient to provide funeral services for

Muslims.

The concept of Islamic Insurance has existed

since the time of the Prophet Muhammad, known as

the concept of al-ilahāqilah. Some of the provisions

of Aqilah which are part of the concept of social

insurance are stated by the Prophet Muhammad in

the Medina Charter. The term Islamic Insurance

itself means joint responsibility, as an alternative

term for Islamic insurance, while according to

Islamic insurance fatwa (Ta'min, Takāful or

Tadhamun) is an effort to protect and help one

another among a number of people / parties through

investment in assets and / or tabarru 'which provides

a return pattern to deal with certain risks through

aqad (engagement) in accordance with sharia. In the

Qur'an, the concept of Islamic Insurance is in

accordance with the word of Allah SWT, namely:

“And cooperate in righteousness and piety,

but do not cooperate in sin and aggression. And fear

Allah ; indeed, Allah is severe in penalty”

The development of Islamic funeral insurance

in various countries in the world has begun,

especially in developed countries such as Europe

and developing countries in Asia, this is due to the

limitations of Islamic funeral management services

and the concept of financial planning that supports

funeral services is also needed. In Indonesia the

concept of commercial Islamic funeral management

is a newly formed industry and continues to develop

well and has high growth potential in the future.

Financial planning for the Muslim community in

Indonesia through the Islamic Funeral Insurance

product is also needed to support the existing

potential.

Development of Islamic Funeral Insurance

products in general in various countries in the world,

always through collaboration with funeral

organizations, this also happens in Indonesia at this

early stage of development. Increasingly intensive

and larger scale collaboration is needed to improve

the development of Islamic Funeral Insurance in the

future.

2 MANUSCRIPT PREPARATION

2.1 Literature Review

Research related to micro Islamic Insurance

products conducted in Indonesia, the products

studied are microtakāful souls for financing in

Islamic microfinance institutions, this study is a

reference for researcher in conducting micro-studies

of Islamic Funeral Insurance products that suit the

needs of participants in Indonesia (Anja Erlbeck:

2012).

ICRI 2018 - International Conference Recent Innovation

120

Research that explains the potential of

microorganisms in the world and the results of this

study states that the success of microtakāful

implementation is to build an efficient delivery

channel, which is adapted to the conditions of the

country based on financial inclusion and conditions

for developing the Islamic insurance market.

Distribution through microfinance institutions is still

an effective choice and efficient. In this study

became the basis for the authors in developing the

concept of developing a Islamic Funeral Insurance

market in Indonesia (Nikunjkumar Gor, 2013).

Likewise, research on funeral insurance products

in Tanzania and Ethiopia is still marketed through

bundling products with micro-credit(Stefan Dercon,

2006), as well as other studies, explaining how

microinsurance health products are forced and

bundled with credit in microfinance institutions

(Abhijit Banerjee, 2014). Microinsurance in Pakistan

also does the same thing, where microinsurance

marketing is still offered through microfinance

institutions and associations or organizations

through credit to the public.

Other research on the development of funeral

insurance products in a city in India, namely Pune

City, the results of the study indicate that funeral

insurance products in India are still new products

and are still difficult to market and so funeral

products are not recommended for stand alone, but

only as an additional part of the cover of other

insurance products (Theresa Thompson, 2013).

Through this research can be a reference for writers

that Islamic Funeral Insurance products are new

products in developing countries as well as in

Indonesia.

Other studies that also support the author's

research on the development of microinsurance, in

this study are presented in full about many studies

on microinsurance in the world and concluded that

the development of microinsurance really requires a

supportive market environment of

institutions(Nitesh Behare, 2013), institutions and

associations or organizations that support

microfinance itself, in this study also describes

micro insurance products, namely related to

agriculture, funeral and health(James Brau, 2011).

Other studies explain the potential of

microinsurance in Nigeria and India which is quite

large but still cannot be realized because it is very

dependent on the level of financial literacy in the

community, especially the lower classes.

Research conducted in India, also a reference for

the authors in determining what factors are the risks

and challenges in developing a product, this research

has similarities in terms of assessing a product in a

country, different in research this is intended for

Indian countries, while the author is intended for the

Indonesian state (Frank Bassey, 2017). There are

also several studies related to the challenges of

developing the Islamic Insurance industry in

Malaysia which were carried out by the daughter of

this research, which stated that there were almost

similar obstacles faced by Indonesia, namely the low

penetration of Islamic Insurance products

(Mohammed Ahmar, 2017).

This research is compared with various previous

studies, especially the studies described above

(Puteri, 2016), so it can be concluded that this

research can be categorized as research that has high

originality, because there has not been a single study

in national and international journals that

specifically examines Islamic funeral insurance

products. This research is the first research that has

the potential to be developed in more depth with

further research, along with the increasing demand

by the Islamic insurance industry, both in Indonesia

and at the global level.

2.2 Research Methodolgy

This study uses descriptive analysis research

methods with qualitative approaches using an

ethnometodology (Garfinkel, Harold, 2002), namely

empirical research on methods used by individuals

to interpret their reasoning to make decision. The

place of research is Islamic funeral managers and

Islamic insurance in Indonesia which are selected

according to the research theme. The author takes

the research of selected Islamic funeral managers,

namely Al Azhar Memorial Garden, the first Islamic

funeral manager in Indonesia and the only one that

uses commercial models and has used Islamic

Funeral Insurance products to its members. For the

selected Islamic insurance company, PT Asuransi

Jiwa Syariah Jasa Mitra Abadi, is the only Islamic

insurance that has sold Islamic Funeral Insurance

products at the Islamic funeral institution, namely Al

Azhar Memorial Garden.

In this study, the authors collected data in the

following ways:

a. Indepth interview, namely data collection

methods by conducting in-depth interviews with

various parties involved in the development of

Funeral Islamic Insurance in Indonesia, namely

the management of PT Syariah Life Insurance

Services Mitra Abadi, Al Azhar Memorial

Garden, PT Insco Multi Pratama (Insurance

Broker), Service Authority Finance (OJK), and

Development Strategy of Islamic Funeral Insurance in Indonesia: Synergy Bundling Product between Islamic Insurance Company and

Commercial Funeral Institution

121

MUI National Sharia Board (DSN). In this in-

depth interview the author will explore the right

strategy in the development of Islamic funeral

insurance in Indonesia.

b. Observation, to find out in detail directly the

activities of the research subject, the authors

have made in-depth observations on the subjects

on the object of research, namely at the burial

location at Al Azhar Memorial Garden.

c. Documentation study, this method is used to

obtain secondary data, namely Islamic insurance

data and Islamic funeral managers, including

general description of the company,

performance, management policies and others

2.3 Result and Discussion

Funeral traditions in the Islamic world are

closely related to the existence of mosques and

water sources. This is not surprising, because in the

Qur'an the water is a source of life and on the other

hand, water is also used to bathe the body, when a

Muslim dies. This condition has become a global

tradition in the Muslim world that the process of

death in Islam is always closely related to the

existence of mosques at the cemetery management

site (in other words, Islamic burial administrators are

always managed by mosque administrators, because

the process of death of a Muslim is very It is closely

related to the ability to manage the process and it is

always carried out by trained and experienced

mosque officers (Anissa, 2013).

Business Funeral or funeral in most of the world

is very closely related to the flow of economy, but

the interesting thing is that when the economy

declines, the demand for funeral business, does not

automatically decline, this is because funeral needs

are absolute, funeral managers always offer flexible

if consumers have difficulty paying or replacing

funeral services that are more affordable.

In Europe, which is a Muslim minority country,

one such as in the Netherlands, Islamic burials have

started to emerge (Islamic Cemetery). The first

Islamic cemetery in the Netherlands was established

in 2007, this cemetery is part of a public burial area

managed by the city government and Muslim

citizens, most of whom are Surinamese who buy

land for special Muslim funerals. In one study it was

shown that there were 25% of city cemeteries in a

special Muslim area. This area is separate from other

areas, this is because provisions in Islam require

Muslims to be buried separately from non-Muslims

and graves must face Mecca (Beverly Bunch, 2015).

Unlike in Germany, descendants of Muslims

from Turkey are immigrants who dominate there.

The German Muslim community, which is mostly

Sunni, has been around since 2010 when there have

been a lot of deaths in the German Muslim

community, most of them want to be buried in their

home countries, Turkey. This is because it is very

difficult and the cost of managing tombs is very

difficult, so repatriation of tombs is a cheaper and

easier choice, only around 2% is buried in Germany.

It is estimated that around 70-95% of Muslims are

repatriated to be buried in their home countries, this

condition is a percentage that is common in most

European countries. Even so there are 250 Islamic

cemeteries in Germany which constitute only 1

percent of the total burials in the country (Nadja,

2016)

Different conditions occur in the majority

Muslim countries, such as in the Middle East, where

burial sites (home funerals) that are managed in

Islam are not an issue. The topic that is needed there

is how funeral management carried out in Islam can

be managed professionally, so that it has a

standardized standard procedure for conducting

funeral processions that are more efficient and the

costs are more controlled. The pattern of

McDonald's restaurants is an interesting concept to

emulate there in terms of the concept of better

management of Islamic tombs (Zafar, 2011).

Professional grave managers currently belong to

an international organization based in America, the

organization is ICCFA (The International Cemetery,

Cremation and Cemetery Cemetery). This

organization was founded in 1887, providing

guidance for its members in carrying out

professional funeral service standards and holding

international certification to become experts as tomb

managers (Funeral director), currently ICCFA has as

many as 9,100 members spread throughout the

world, including in Indonesia. This organization can

also be a mediation for consumers who submit

complaints to members of the association.

Besides that, there is also an Islamic Funeral

Institution that began to transform into a financial

institution, namely to become Sharia Insurance, as

happened in the Netherlands, namely PPME AIA

Onderlinge Uitvaartvereniging (OWM) Sharia

Insurance which was established in Amsterdam, is a

moving Islamic Insurance entity as a provider of

services and funds in the management of bodies and

funerals. They are here to answer the needs of the

Muslim community in the Netherlands for Islamic

choice in ensuring the future of individuals and

families easily and reliably. Broadly speaking, the

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products they offer are divided into two, namely

services, including the management of bodies, grave

and repatriation reservations, and funding services,

in the form of providing noodfonds according to the

needs of members. With their joint efforts, in the

future this OWM will become a fully functional

Sharia Insurance Institution with broader Sharia

Insurance products and variatives (currently in

process at Dutch Central Bank).

As for services, namely (1) Arrangement of

bodies, they provide a complete body of mortuary

services, starting from the bathing process,

transportation, prayer services, prayer processions,

room rentals to burials. (2) Reservation of the tomb,

Noting the cost of the burial ground which is

increasing every year, grave reservations are a wise

choice and guarantee. They provide several schemes

for making reservations at fixed prices from 20 to 50

years. (3) Repatriation of the corpse, Repatriation of

the corpse to the family's hometown in the country

(Indonesia, because most Muslims who are members

of this community are of Indonesian descent, ie as

many as 200,000 residents), this is a sufficiently

sought option. In addition to repatriating the body

and taking care of related documents, we also

facilitate the family of members to be able to go

home to deliver.

In addition to the 3 services above, this

institution also serves funding services. They

provide members of noodfonds (emergency funds)

of € 2,000 quickly and responsively. This emergency

fund allocation is prepared for members who (1) do

not have insurance, (2) have insurance but

compensation does not cover the total cost of

managing the corpse (3) has insurance with

sufficient compensation, but is slow in the

disbursement process. This institution is located at

Jan van Genstraat 140 1171 GN Badhoevedorp

Noord-Holland, The Netherlands. (Mukti, 2017)

The manager of the funeral (home funeral) in

Southeast Asia, especially in Indonesia has grown

quite rapidly, this is due to the need for funeral

services in countries in Southeast Asia, such as

Malaysia, Singapore, Thailand and Indonesia are

getting bigger (Frost, 2013), It is estimated that the

total market value of this industry reached $ 4.1

billion with Indonesia ranked second after Thailand.

Factors that support the increasing need for

commercial funeral services are socio-economic

factors, such as economic growth, urbanization,

rising incomes, population growth and increasing

age in a country. Besides that it is also influenced by

the increase in mortality rates, Indonesia alone from

1000 population occurred 6.4 deaths. Frost &

Sullivan estimates that the funeral service business

in Indonesia in 2013 will reach $ 1.7 billion and will

be $ 2.8 billion in 2018, the market share is

controlled by private (commercial) tomb managers

above 66%, the rest there are more than 100

managers a tomb managed by the city government

or commonly called TPU (Public Cemetery).

In Indonesia, several private grave managers

who provide services in a professional manner, such

as Sandiego Hills, Al Azhar Memorial Garden and

Paradise Memorial Garden. Al-Azhar Memorial

Garden itself is the manager of the first tomb which

is fully dedicated as the manager of the Islamic tomb

(Islamic Cemetery full pledge) and managed

commercially. Al-Azhar Memorial Garden cemetery

has a complete range of quality facilities and

services, such as: exclusive funeral parks, mosques,

beautiful meadows for outdoor activities, spacious

parking and walkaway tracks, Lounge and

Playground and main access directly to the Jakarta

Cikampek Rest Area toll road KM 52, making it

easy for pilgrims and families to visit the area which

has a land area of 25 hectares. Firdaus Memorial

Park was born on the basis of the increasingly

narrow burial grounds and increasing funeral costs,

especially in Bandung, this condition is certainly

very burdensome for families of poor people.

Through the concept of being a productive waqf

institution, there is a Firdaus Memorial Park

Program managed by endowments, not business or

commercial.

Unlike the case of Al Azhar Memorial Garden

and Firdaus Memorial Park which are specifically

for Muslims, the San Diego Hill Memorial Park &

Cemetery Homes is a commercial burial complex

that has high standards for all religious circles, but in

the area there are special funeral complexes for

Muslim consumers. The San Diego Hills Memorial

Parks and Cemetery Homes stated that they were the

first burial area in the world to offer a complete

range of quality facilities and services, including:

exclusive cemetery, 8 Ha lake, chapel, musholla,

Italian restaurant, jogging track, swimming pool,

florist & gift shop, beautiful grasslands for outdoor

activities, to multi-purpose buildings with a capacity

of 250 people. The design of this area which has an

area of 500 Ha was adapted from the world's leading

cemetery, Forest Lawn Memorial Parks &

Mortuaries in California United States. The Muslim

funeral complex is called the Five Pillars Garden

which adopts the concept of 5 pillars of Islam

(Creed, Prayers, Fasting, Zakat, and Hajj), Five

Pillars Garden of 25 Ha. is a Muslim funeral park

with Islamic philosophy designed by Dr. Mona

Development Strategy of Islamic Funeral Insurance in Indonesia: Synergy Bundling Product between Islamic Insurance Company and

Commercial Funeral Institution

123

Siddiqui, professor from Glasgow University

majoring in Islamic Studies and Public

Understanding and Janet Benton, landscape

consultant from Scotland.

The synergy between Islamic insurance

companies and funeral institutions in product

development at each institution is important because

basically these two institutions reinforce each other,

through Islamic insurance companies which are

financial institutions can be a stage of introduction

and education for the community in financial

planning in the face of cost management death for

families that are increasingly expensive and difficult.

Financial institutions can also help commercial

funeral institutions to build funeral infrastructure

that is also better at national and international

services.

In the early stages of product development in

these two institutions can work together, both in

terms of joint product development, marketing

cooperation and public education and investment

cooperation.

1. Product cooperation for business operational

efficiency and effectiveness

In order for these two institutions to provide

financial management and funeral services to the

public more effectively and efficiently, it can be

through joint product collaboration, namely where

the products of each institution are integrated, so that

participants get one integrated and non-segregated

service.

2. Marketing and education cooperation in the

community

With shared products, the two institutions can

also conduct joint marketing cooperation, namely by

cross-selling products, where each marketer from the

institution can sell products to the existing

participant data.

3. Investment cooperation in the development of

funeral service infrastructure

With funds collected from insurance companies,

Islamic insurance companies can help in investment

in funeral infrastructure, such as the availability of

burial grounds, call center services, international

repatriation services and more.

This study proves that the development of

Islamic Funeral Insurance is more effective with

product collaboration through the Funeral Institution

and an important element of the Islamic Funeral

Insurance product is market, distribution and price

education. This conclusion contradicts the results of

research by Nitesh Behare and Dorothee Crayen

stating that microinsurance can be marketed alone

(stand alone). This study also strengthens the studies

conducted by Anja Erlbeck and Abhijit Banerjee

which state that micro takaful (insurance) should be

marketed with a joint product (bundling product)

with certain institutions

Based on the results of this study, it can be

concluded as follows :

1. Islamic Funeral Insurance Products are

important to be developed in Indonesia, because of 4

(four) micro insurance products, namely micro credit

insurance, health insurance, agricultural insurance

and funeral insurance. Funeral insurance which is

very potential as Takaful insurance with Indonesian

citizens who are mostly Muslim and has become a

habit for a long time to collect death funds through

mosque and RT / RW organizations, so that it can be

upgraded to a Islamic Funeral Insurance product in

the future. In addition, with the development of

Islamic micro Insurance products, this will increase

the penetration rate of Islamic insurance in

Indonesia.

2. The development strategy of the Islamic

Funeral Insurance in Indonesia is divided into 2

aspects, namely the Strategy for the development of

the Islamic Funeral Insurance business and the

Funeral Insurance product development strategy.

The business development strategy for Islamic

Funeral Insurance, consisting of: (a) Collaboration

with institutions, namely by marketing Islamic

Funeral Insurance does not target individual targets,

but only targets the institution's target, which is the

institution that provides funeral services, be it

companies, foundations, associations, Funeral

service organizations at the national, provincial and

RT / RW levels. (b) Collection scheme, namely the

business scheme implemented is through a

collection scheme, meaning that the Islamic Funeral

Insurance policy is the parent policy and each

individual receives a policy certificate. (c) Market

Education. In order to increase market education for

Islamic funeral insurance products, both through

promotions and government agendas, the Islamic

insurance industry should be able to use agency

channels to educate consumers. Because the agency

path is an effective and efficient path for now. The

strategy of developing a Islamic Funeral Insurance

product, consisting of: (a) Product Bundling,

because the target market for Islamic Funeral

Insurance is currently an institution, organization,

association of funeral services, the product must be

in the form of cooperation with the agency (bundling

product). With this mechanism it is expected that

marketing targets will be easier. (b) The price of

contributions must be affordable, the price set in

compiling a Islamic Funeral Insurance product must

ICRI 2018 - International Conference Recent Innovation

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be very affordable by consumers, so that consumers

are not over charged and after feeling and knowing

the benefits of this product, the price can be adjusted

based on the level of risk of each consumer . (c)

Simple design, design of Islamic Funeral Insurance

products, must be simple and in accordance with the

benefits and needs of consumers. This is to facilitate

consumers in understanding the product.

4 CONCLUSIONS

In accordance with the conclusions of the above

study, the authors put forward several suggestions,

namely as follows:

1. The strategy of developing a Islamic Funeral

Insurance business is more effective by

collaborating through a funeral institution,

both in the form of companies, foundations,

associations, organizations that provide

funeral services in Indonesia. This

collaboration was built in the early stages of

being able to go through agency distribution

channels and brokers.

2. Strategic development of Islamic Funeral

Insurance products, can take into account 3

important elements, namely market

education, distribution and prices. Effective

and efficient market education is done

through effective agency and distribution

channels and affordable prices for consumers.

3. The government must be able to provide

incentives and incentives for the development

of Islamic Funeral Insurance in Indonesia

through promotion, ease of product licensing

and synergy with local governments to make

marketing breakthroughs for Islamic Funeral

Insurance products.

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