Customizable Fund Segregation
Set up and customize PRF/PIF funds, segregate ledgers, and configure surplus calculation and distribution rules.
Takaful Insurance System
Develop Takaful Insurance Systems Faster
Build Takaful insurance software faster with a highly customizable core platform. Configure Sharia-aligned models and workflows on your terms.
Open-Source Unlimited Users GenAI No Vendor Lock-In
Configurable Wakala/Mudaraba Fees
Encode contribution, fee, and profit-sharing logic in transparent rules you fully control.
On-Premise Deployment Capabilities
Self-host in your data center for full data sovereignty and compliance.
Customizable Foundation for Sharia-compliant Software
Insurers in Islamic markets struggle to make conventional systems meet Shariah, fund segregation, and surplus transparency, often resorting to custom software development that is costly, slow, and hard to maintain.
Openkoda provides a customizable foundation you own, so you can encode Takaful rules, design role-based workspaces, and deploy on-premises to meet data-residency obligations.
Openkoda platform’s reusable building blocks and extendable architecture allow teams to ship certified Shariah-compliant software up to 60% faster, drastically reducing both time-to-market and development risk.
Why Choose Openkoda to Launch Takaful Insurance Software
Takaful Products & Operations
Model and run Takaful products end-to-end with transparent, configurable rules:
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Customize Takaful Premium Management – Define accounting structures for the Participant Risk Fund (PRF) and Participant Investment Fund (PIF), along with surplus distribution rules, tabarru’ handling, and fee logic (Wakala/Mudaraba) exactly as your model requires. It’s transparent, versioned code you own – not a black box.
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Process claims according to Takaful rules – Configure your end-to-end claims workflow – from FNOL through validation and approvals to payout – explicitly aligned with Takaful principles (e.g., PRF impact tracking, qard handling, and transparent surplus implications).
Roles, Workspaces & Governance
Equip every stakeholder with purpose-built workspaces and governed access:
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Build bespoke multi-role workspaces – Configure dashboards, permissions, and workflows for participants, system administrators, and partners to match your operating model.
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Set up custom privileges for members – Assign dedicated permissions and workspaces for system admins, claims officers, and Shariah Board members to securely review products, approve rules, sign off on surplus/distribution policies, and record fatāwā/decisions with immutable audit trails.
Deployment & Compliance
Control your platform footprint, compliance, and economics – on your terms:
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Deploy on-premises to keep data in-country – Deploy your insurance software in your own environment to comply with local personal data protection laws (e.g., Saudi Arabia’s PDPL). Maintain full control of encryption, backups, and access policies – without vendor lock-in.
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Keep costs predictable as you scale – No per-user pricing: One flat platform fee with unlimited users and partners; add agents, branches, or channels without extra costs.
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Stay audit-ready – End-to-end audit trails and versioned rule changes; configurable approvals and evidence capture; reporting runs where your data lives.
Enterprise Ready Foundation
Openkoda gives insurers an extendable, highly customizable foundation for building modern insurance applications – perfect for Takaful. Instead of bending your operating model to a rigid core, you start with proven building blocks (security, data, workflows, integrations) and tailor everything in code you own.
That means you can encode Takaful-specific rules and governance, deploy on-premises for data residency, and evolve at your pace without vendor lock-in.
What’s included out of the box
- Core enterprise foundation: Authentication, multi-tenancy, role-based access control, dashboards, backups, and audit logging.
- Insurance modules: Policy administration, claims, endorsements, document generation, and payment/ledger integrations.
- Embedded distribution: Embeddable quote/bind flows for partner apps (e-commerce, travel, mobility, banking).
- Integration fabric: REST and GraphQL APIs, webhooks, and connectors to coexist with legacy cores or modern SaaS.
- Automations & rules: Workflow orchestration, a rules engine, and scheduled jobs for reminders, renewals, and approvals.
- Analytics: SQL reporting plus Reporting AI – visualize and schedule reports without moving data outside your environment.
- Deployment choice: On-premises in your country/region or managed cloud – your data residency and security, your policies.
