UNAIR NEWS – Market Kings Team wins third place in the business case competition at the national-level KSEI Youth Innovation Festival 5.0. The competition was a collaboration between KSEI ISEEN, Faculty of Economics and Business (FEB), Universitas Muhammadiyah Purwokerto, and KSEI, Faculty of Islamic Economics and Business (FEBI), Prof. K.H. Saifuddin Zuhri State Islamic University Purwokerto, with Prudential Syariah as the case collaborator.
The team consists of three students: team leader Muhammad Mu’adz Fahad, Fadlan Abdulgani, and Fahreza Putra Syah. All three study economics at the Faculty of Economics and Business (FEB), Universitas Airlangga (UNAIR). It was their second business case competition (BCC).
Tackling dual challenge of sharia insurance
Fahad said Prudential Syariah presented a real-world problem with two interrelated sides of its business. On one side, the agent network, the backbone of the company, is shrinking, and the regeneration of young marketers is not yet optimal. On the other, sharia insurance penetration among Muslims remains below one percent, with Gen Z the segment least reached by protection.
Fahad and his teammates saw that the two problems could not be solved separately. “If we only improve the product, the agent problem remains, and if we only recruit agents, Gen Z’s lack of interest in insurance remains,” he explained.
This reasoning became the starting point for the Gen-Amanah Ecosystem concept, a solution that integrates product, people, process, and price (4P) in a single, mutually reinforcing ecosystem.
The name Gen-Amanah was chosen for its deeper meaning. “Gen” represents Gen Z as both the target and the driver of change. “Amanah” represents trust and taawun (mutual assistance), the foundations of sharia insurance.
“The word ecosystem also emphasizes that this solution is not just a single program, but a network of communities, ambassadors, agents, customers, and digital technology working together,” he added.
Community-based 4P strategy to accelerate inclusion
Market Kings Team formulated the solution through a 4P marketing mix strategy targeting campus communities, such as campus Islamic preaching organizations (LDK), student executive boards (BEM), and halal lifestyle communities. For the product, they propose GenShield Takaful. “This is a modular micro-insurance with premiums from Rp50,000 to Rp200,000, equipped with a real-time dashboard to monitor the tabarru’ (donation) fund,” he said.
For the people aspect, they recruit Campus Ambassador Agents from campus communities. “In this aspect, the selected agents are trained through a microlearning app and guided by mentors at a ratio of one to five for 90 days,” he explained.
For the process, the team designed an instant policy purchase flow of just three clicks through a digital protection calculator and WhatsApp, complemented by roadshows and talk shows on campus. For price, the team offers flexible payment through e-wallets, QRIS, and a per-semester payment option for student customers.
“The Community-First Approach has a competitive advantage because it fits the company’s value of taawun. This principle is also aligned with the psychological characteristics of Gen Z, who tend to trust social recommendations more than conventional brand promotion,” he added.
Despite their national achievement, the team chooses to stay realistic about its next steps. The members plan to deepen their research on Gen Z needs through surveys and community discussions to test the assumptions in their business case.
“If the validation results are strong enough, this concept has the potential to be developed into a small-scale community project or to serve as preparation for the next competition,” Fahad concluded.
Author: Qurrota A’yuni Latifa Editor: Khefti Al Mawalia
