Does religious commitment influence takaful participation intention?

Hartini, Ab Ghani and Sofiah, Abdul Rahman and Mustafa, Dakian and Salman, Lambak (2016) Does religious commitment influence takaful participation intention? In: 3RD INTERNATIONAL HALAL CONFERENCE 2016, 21-22 Nov 2016, SHAH ALAM.

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Abstract

Malaysia is a multicultural country with Islam as the major religion. With a population over 30 million as at 2016 and 61% are Muslim. Takaful (Islamic insurance) has significant opportunities for growth as its penetration rate is still low. A sample of 500 respondents classified as professional were taken from three cities of Malaysia to examine whether religious commitment influence the intention to participate in Takaful. Data for this study were collected by using a self-administered questionnaire containing five sections where section A contains multiple choice questions and the rest of the sections; section B-E are using Likert scale which were developed using past validated instruments with changes to make it more relevant to this study. Data was analysed using multiple regression with SSPS version 20. The paper found that religious commitment is significantly related to the Takaful participation. The paper has practical significance for Takaful policy makers in their marketing strategy as understanding consumer behaviour is crucial

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