Takaful Industry in the Era of Technological Advancement

• DOI: 10.54045/jeksyah.v3i02.726
• Publication Date: 2023-09-17T11:31:15Z
• Authors: Zaki Ahmad; Mahvish Nawaz Mokal; Mahfujur Rahman
• Keywords: Bandwagon effect; Scope (computer science); Value (mathematics)

The aim of this paper is to investigate how the takaful industry can address issue technological advancement. Furthermore, explore way by which operators compete with fintech insurers as well in areas should focus on innovate, e.g., technology or products, Additionally, find out if there are any shariah concerns jump bandwagon these insurers, findings research show that impact innovations extends beyond value chain itself whole eco-system. combination big data and advanced analytics reshaping industry, from underwriting claims marketing, inventing new products distribution channels. threat big-tech companies such Google, Facebook, Apple, Amazon have broadened scope operator’s problem because currently offering insurance through their websites. Takaful tie up tech sell Since deep knowledge experience technology, they also gained a decent reputation proven records providing excellent services customers vast global reach. This brings insights for policymakers, regulators, practitioners. main advancements industry. It further answers question products.