Techafull Model

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Individuals join the Techafull solidarity pool to compensate against the possible damages that may be suffered by them.

Any Techafull insurance products is included in the solidartity pool when it is purchased.

Techafull Techafull Model Solidarity pool

Techafull Techafull Model Techafull pool

The amount collected in the Techafull pool is evaluated for the benefit of the participants.

The amount in the pool is evaluated on interest-free instruments approved by the Ethics Council.

Management expenses for maintaining insurance activities are covered from the Techafull pool.

Management Expenses

Agency Commission

Employee Expenses

General Administratice Expenses

Marketing Expenses

Consultancy Expenses

Techafull Techafull Model Management Expenses

Techafull Techafull Model Cover any losses

The losses of the participants who suffered damage during the term are covered from the Techafull pool.

With its strong capital structure, Techafull provides assurance to the pool to cover any losses.

At the end of the term, the remaining balance in the Techafull pool is considered as a donation on behalf of the participants.

While Techafull participants secure themselves, they also share the benevolence for the people around them.

Conventional Insurance

Techafull Model

Working principle

Risk Transfer

Risk Transfer

Participants transfer their risk to the insurance company.

Solidarity and Cooperation

It is based on solidarity and cooperation among the participants.

Role of Insurance Company

Direct risk owner

Direct risk owner

There is a direct relationship between the insured and the company.

Proxy

Techafull carries out the insurance activities on behalf of the participants and is referred to as a "proxy" instead of the insurer.

Sharia compliance

There is no advisory committee service.

There is no advisory committee service.

There is no advisory committee service.

Ethics Council

Techafull receives service from the Ethics Council, which consists of members who are experts in the field of fiqh.

Premiums Collected

Insurance Company

Insurance Company

Ownership of paid premiums is vested in the insurance company.

Techafull Pool

The premiums collected are transferred to the Techafull pool, which is jointly owned by the participants, and managed by the proxy.

Evaluation of collected premiums

No restrictions.

No restrictions.

There is no restriction.

Sharia Compliant Investment Instruments

Assets in the Techafull pool are evaluated in investment instruments that comply with participation finance principles.

FAQ

What if the money collected in the pool is not enough to cover the damages?

With its strong capital structure, Techafull always stands by its customers. The amount in the pool is constantly monitored so that the participants do not suffer in any way, and reserve capital is always made available in the pool.
When are donations made?

If there is a balance in the Techafull pool at the end of the term, donations are made on behalf of the participants whose policy expires within 3 months thereafter.
When does the amount in the Techafull pool start to be evaluated?

The Techafull pool is evaluated simultaneously during the insurance term, in accordance with the principles of Islamic finance, in order to protect the interests of the participants and to increase the amount in the pool. There is no initial requirement for this purpose.
Which organizations do you donate to?

If there is a balance remaining in the Techafull pool at the end of the term, this amount is donated to the institutions deemed appropriate by the Ethics Council on behalf of the participants.
Do your products and services have Halal certificate?

Techafull carries out all its processes and activities under the constant supervision and control of the Ethics Council, which consists of experts in the field of fiqh. You can view our Permit Certificate.
In which investment instruments is the amount in the Techafull pool evaluated?

The amounts in the Techafull pool are evaluated in the following instruments approved by the Ethics Council to comply with the Principles of Islamic Finance:

-Participation accounts to be opened with the participation banks, -Stocks complying with the participation index or stocks or indexes approved and periodically reviewed and updated by the Ethics Council, -In gold, silver and foreign exchange transactions to be carried out with interest-free methods, -In capital market instruments that can be invested in gold, silver and other precious metals and interest-free method based on them, -In sukuk (lease certificate) and similar interest-free income or investment instruments approved by the Ethics Council of the issuing and issued organization in Turkey or abroad, -In Interest-Free Mutual Funds and Interest-Free Exchange Traded Funds approved by the Founder's Ethics Council, -Other investment instruments approved by the Ethics Council.