Impact of digital technologies/ platforms on business outcomes and efficiency of takaful companies
Takaful is rapidly gaining momentum, particularly in the Asia Pacific and the GCC region, owing to a large Muslim population. Muslims currently account for a fifth of the total global population and these levels are expected to further increase in the future. In 2018, the value of Takaful assets worldwide amounted to 46 billion U.S. dollars while the top 3 markets of Saudi, Iran and Malaysia had assets worth 37 billion USD. The fastest growing markets worldwide were Maldives, Pakistan and Brunei. Another major driver of the market is that, in contrast to Western countries, the majority of the world's Muslim population is young with 60% of this entire population being less than 25 years of age. Catalyzed by rising levels of affluence, this large young Muslim population has the potential to represent a customer base for a fairly long duration if it is captured early.
Takaful companies , Digital technologies/platforms , Business revenue , Business efficiency
Khan, S. U. (2021). Impact of digital technologies/ platforms on business outcomes and efficiency of takaful companies (Master dissertation). INCEIF, Kuala Lumpur. Retrieved from https://ikr.inceif.org/handle/INCEIF/3635