Takaful Insurance System
Configure a Sharia-compliant Takaful system
Because products, rules and accounting are all configuration in Openkoda, you can model Takaful structures - participant and operator funds, surplus handling and Sharia rules - on the same platform.
Adaptable to Takaful
Wakalah, mudarabah and hybrid products can run side by side, each with its own contribution split, fee basis and surplus logic. You configure the model per product instead of bending a conventional insurance core to fit.
Rules-driven
Eligibility, underwriting limits and the conditions your Sharia Supervisory Board sets are rules the platform applies to every quote, certificate and claim. When the board revises one, your team changes configuration, not code.
Deploy in-region
Run Openkoda on your own infrastructure in the country where you are licensed, or on Openkoda Managed Cloud where the regulator allows it. Either way the code and the data stay yours.
One platform, adaptable to Takaful
Openkoda's configurable core lets you shape products and processes to Takaful requirements, rather than forcing a fixed model.
What you can do
Fund structures
Set how each contribution splits between the participants' risk fund, the family takaful investment fund and the operator's fee. Every allocation is recorded against its fund, so balances report separately.
Surplus handling
Define when a participants' fund is in surplus, what is retained as a reserve and how the rest is distributed. A deficit covered by qard is tracked until later surpluses repay it.
Rules-driven
Eligibility, underwriting and exclusion rules, including your Sharia Supervisory Board's conditions, apply on every quote and endorsement. Each rule change is versioned and audited.
Configurable products
Build motor, property, medical and family takaful products without code. A revised product goes live as a new version, and certificates in force keep their terms.
AI Product BuilderDocuments
Certificates, contribution schedules and claim letters come from templates carrying your board's approved wording. Changing that wording is a template edit, not a development request.
Document generationDeploy in-region
Run Openkoda on-premise in your own data centre or a local cloud region to meet data residency rules, with the full source code in your hands.
Security & deploymentWhy takaful is hard to run on conventional insurance software
Takaful replaces risk transfer with risk sharing. Participants contribute to a common fund that pays their claims, and the operator runs that fund for a wakalah fee, a mudarabah share of investment profit, or a mix of the two.
That structure is what conventional cores struggle with. Participant and operator money has to stay separate, a surplus belongs to the participants, and a Sharia Supervisory Board approves products and how the funds are invested. The commercial pressure is real too: the IFSB's Islamic Financial Stability Report 2026 points to rising motor and medical claims, fee calibration, limited retakaful capacity and participant funds that fall into deficit and need repeated qard, interest-free support from shareholders.
The principles in more detail are in our guide to takaful.
What you can do in Openkoda
- Split each contribution between risk fund, investment fund and operator fee
- Run wakalah, mudarabah and hybrid products side by side
- Track surplus, retention and distribution per fund
- Record qard to a fund in deficit, and its repayment
- Apply your Sharia Supervisory Board's rules on every certificate
- Report fund results and loss ratios per product
Up and running, fast
Configure products & funds
Choose the takaful model for each product, then set its contribution split, operator fee and fund structure. Start from an existing product and change what differs instead of building every line from scratch.
Set the rules
Add eligibility, underwriting and surplus rules, including the conditions from your Sharia Supervisory Board. Check them against test quotes before anything goes live, and keep every version for the board to review.
Distribute & administer
Sell through your own channels, agents or partner portals, then issue certificates, collect contributions and settle claims on one platform, deployed in your region.
Configure a Takaful motor product
A Takaful operator wants a Sharia-compliant motor product on a flexible core.
Model the product & funds
Configure the product and participant/operator fund structure.
Set the rules
Encode governance, eligibility and surplus handling.
Distribute & administer
Sell and service on one platform, deployed in-region.
Illustrative example built on Openkoda's demo products.
Built for your team
Openkoda suits takaful operators and takaful windows that want a core shaped to their own model, not a conventional system patched to fit. It is not a pre-built takaful suite: your actuaries and Sharia board still decide the rules. Openkoda lets your team encode them as written, change them when they change, and keep the code and the data.
Questions, answered
Is this a pre-built Takaful product?
Can we deploy in our region?
Can we model participant and operator funds?
Can we encode Sharia governance rules?
Do we own our data?
See Openkoda in your context
Book a live, personalized demo with our product team - tell us your use case and see the platform work with your data. No commitment.