Abstract
Malaysia has experience a low penetration for Takaful business despite many growing operators in insurance industry. After 25 years in operation, it is time that Takaful industry is evaluated in terms of its performance. This study provides better understanding on Takaful customer satisfaction in a case of Kota Bharu. Population of this study are customers who have subscribing family Takaful plans in selected Takaful operator at least one years’ experience based on convenience sampling method. A total of 196 questionnaires were distributed and 163 questionnaires were returned. Therefore, this study revealed that the Product, Pricing, Promotion, People and Process towards Takaful operator were positively influence customer satisfaction. Finally, the study found that the Process indicates as the most critical factor that influences customer satisfaction toward Takaful Operator.
Highlights
IntroductionThe increase number of Takaful Operators in Malaysia encourage a good opportunities for the expansion of the Takaful market share and increased penetration
Nowadays, Takaful industry has become more diversified internationally and locally as there has been a significant increase in the number of Takaful operators operating worldwide including Malaysia
The positive direction relationship between these two variables shows the increase in Product will effects Customer Satisfaction towards Takaful
Summary
The increase number of Takaful Operators in Malaysia encourage a good opportunities for the expansion of the Takaful market share and increased penetration. According to Cheikh (2013), General Takaful focuses on short-term property and liability protection against any loss or damage. On the other, Kaunain and Akhtar (2016) stated that, the Family Takaful focuses on combination of long-term protection and savings for participants and dependents arising from disability, survival or death. This is an investment program to provide halah investments (which are considered to Shariah) returns to participants as well as joint financial aid. Individuals take part in regular residual money to provide supportive financial assistance their dependents if they early death, or as a contingency savings if they are having permanent disability or still alive until maturity date of the policy plan
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