Muchlis Ghazali, Haneffa and Haque, Md Mahmudul and Shafiai, Syahiru and Shamsudin, Norazidah and Mohd Yusoff, Syarah Syahira (2023) Conceptual insights on factors shaping Takaful Technology (TakaTech) adoption in Malaysia. Labuan e-Journal of Muamalat and Society, 17 (2). pp. 83-93. ISSN 1985-482X E-ISSN 2672-7390
|
PDF (Journal)
- Published Version
Download (339kB) | Preview |
Abstract
The takaful and insurance industry is profoundly transformed, driven by rapid advancements in digital technology and the Internet of Things (IoT). While InsurTech has revolutionised traditional insurance practices, the acceptance of Takaful Technology (TakaTech) among consumers in Malaysia remains uncertain. This study aims to investigate the determinants of TakaTech adoption, focusing on attitude, subjective norm, relative benefit, and FinTech knowledge. The research is grounded in an extensive literature review and a conceptual framework analysis, drawing from an established Theory of Reasoned Action with relative benefit and Fintech knowledge. This study contributes to understanding consumer behaviour in the takaful industry, addressing a notable gap in current research. The identified determinants offer a detailed comprehension that can guide policymakers and market participants in refining marketing tactics. Takaful companies, armed with insights into customer viewpoints, can strategically promote products, increase market share, and expand commercial operations. It is essential to acknowledge the study's limitations. The conceptual nature precludes the establishment of causal linkages, and the proposed elements are derived from theoretical frameworks. Practical implications include the potential improvement of marketing efforts by tailoring strategies to customer preferences, thereby fostering TakaTech adoption. In conclusion, this research lays the groundwork for future empirical studies in the relatively unexplored field of Takaful Technology. Subsequent inquiries should examine additional factors and provide empirical evidence to authenticate the proposed conceptual framework. These efforts are vital for advancing knowledge in the expanding field of Takaful Technology, promoting continuous growth and innovation within the takaful industry.
| Item Type: | Article (Journal) |
|---|---|
| Uncontrolled Keywords: | TakaTech, Attitude, Subjective Norms, Relative Advantage, FinTech Literacy |
| Subjects: | BPH Islamic Economics BPH Islamic Economics > BPH72 Economic development. Growth. Sustainable development. Sustainability BPH Islamic Economics > BPH830.3 Social systems. Urban groups. Cities and towns. Sustainable urban development |
| Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): | Institute of Islamic Banking & Finance (IIiBF) |
| Depositing User: | DR Syarah Syahira Mohd Yusoff |
| Date Deposited: | 08 Jan 2024 16:23 |
| Last Modified: | 08 Jan 2024 16:37 |
| URI: | http://irep.iium.edu.my/id/eprint/109767 |
Actions (login required)
 |
View Item |
Download Statistics
Download Statistics