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Multi-prong approach to raise consumer awareness of takaful January 26, 2008

Posted by Suheri in Takaful.
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takaful2.jpgThis Article was published in MiddleEast Insurance Review November 2006 Issue. This magazine is circulated mainly in Middle East and Asia Countries.

The growth of Shariah insurance in Indonesia in the last few years has been very significant. Starting with only a few insurers in the 1990s, the country now has 30 Islamic insurance entities, including 16 general takaful operators, 11 life takaful players and three retakaful operators. Among them, three are full takaful companies comprising one general takaful and two life players. The others operate as a window or a unit in a conventional insurer. The fast growth in the takaful sector at the moment, though, is still not matched by the level of customer awareness about Shariah insurance itself. In one survey involving 954 respondents (57.44 % of whom have insurance while 42.56 % do not buy insurance), 99.64 % of the customers, who purchase insurance, claim that they do not understand Islamic insurance…. To read more click this link Awareness

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