American Marconi Wireless News - Algorithmic Insurance Services Inc., dba American Takaful Insurance Solutions Appointed to Develop Takaful America, the First Large-Scale Takaful Insurance MGU in the United States

Takaful America aims to provide faith-based, ethically grounded property insurance solutions to Muslim families and businesses, beginning in New York, New Jersey, Michigan, Minnesota, and Illinois. This model, well established in multiple international markets, is expected to gain substantial traction through a broker-centric distribution strategy and focused community outreach through religious centers.

"This is a historic step toward offering faith-aligned financial protection at scale to the Muslim community in America," said Lawrence Lipman, co-founder of Algorithmic Insurance Services. "We are honored to lead the design, reinsurance, and regulatory structuring for what will become a pillar of trust and resilience for families and businesses alike."

Empowering the Community Through Values-Aligned Coverage

Takaful is a globally recognized model of mutual insurance built on shared responsibility, transparency, and surplus sharing. Unlike conventional insurance, which is based on risk transfer and profit extraction, Takaful prioritizes ethical principles rooted in Islamic law. Takaful America plans to operate with a participant-first approach, enabling surplus to be returned to policyholders in accordance with Islamic standards.

"As a practicing Muslim and industry professional, I am honored to contribute to the development of a program that brings meaningful representation and choice to our community within the insurance space," said Armin Dzanic, Chief Client Officer- Program Business of Algorithmic Insurance Services. "Takaful America endeavors to empower producers across the country to offer protection that reflects the values and needs of the people we serve, not just as clients, but as neighbors and fellow believers."

In his role, Armin supports the strategic development and launch of Takaful America, helping shape its structure, market positioning, and distribution approach as part of Algorithmic Insurance Services' broader work advising and building emerging MGU and program platforms. American Takaful Insurance Services will soon approach markets with its reinsurance submission and looks forward to an official launch in the near future.

About American Takaful Insurance Solutions

American Takaful Insurance Solutions is a registered DBA of Algorithmic Insurance Services Inc., a California-based insurance and reinsurance brokerage and consulting firm.

Disclaimer

This press release may contain forward-looking statements concerning a product currently under development. Such statements are based on assumptions and expectations that involve risks and uncertainties, and actual results may differ materially. The information contained herein is provided for informational purposes only and shall not be construed as an offer to sell, a solicitation to purchase, or an advertisement for any insurance or reinsurance product or service. The product described, once available, will be offered exclusively on an excess and surplus lines (E&S) basis.

CONTACT:

Steven Griswold, Chief Operating Officer
[email protected]

Armin Dzanic, Chief Client Officer - Program Business
[email protected]

SOURCE: Algorithmic Insurance Services Inc.

View the original press release on ACCESS Newswire

D.Moore--AMWN