An Empirical Study On Factors Influencing Muslim School Teachers' Intention To Engage Into Takaful Protection Plan
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Date
2007
Authors
Sahul Hamid, Farah
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Abstract
The Malaysian Government continuously undertakes strategic initiatives to strengthen the
country's position as the global Islamic hub. Under the 9th Malaysia Plan (9MP), the
Islamic Insurance system, or known as Takaful, will be developed to form an important
part of the financial system by 2010, with the underlying objective of developing strong
and highly capitalized takaful operators offering complete range of takaful products and
services. The objective of this study is to identify the factors that influence the Muslim
school teachers' intention to engage into takaful. Ajzen's Theory of Planned Behavior
(1991) was used as the basis of this study. The theory suggested that the attitude,
subjective norm and perceived behavioral control of an individual would influence the
individual's intention to act on a certain behavior; engaging into a takaful protection plan
in the case here. The external variables of income, education as well as the level of
religiosity of the customers were also being examined to see on whether these factors
have any influence on the customer's attitude, subjective norm and perceived behavioral
control. The sample comprised of 198 Muslim school teachers located in Penang area.
From the multiple regression analyses used for the study, the findings supports the TPB
model whereby attitude, subjective norm and perceived behavioral control were found to
have a significant relationship with the customer's intention to engage into a takaful
protection plan. As for the external variables, only religiosity was found to have a
positive impact on attitude and perceived behavioral control. It is hoped that the findings
of this study will let us understand more on the key factors that influences the customers'
intention to engage into takaful and thus would provide a guide for implementing
efficient marketing strategies by the takaful operators in the industry.
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Keywords
Insurance