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new customers online. Over 90% of the respondents in Malaysia and Saudi Arabia, and almost
80% in Turkey agreed that attracting new customers via online channels can be a good
opportunity to enhance the growth of the Takaful industry. This is contrary to the views of 100%
of the respondents in the UK who believe new customers via online channels do not provide
opportunity for enhancing the growth of the Takaful industry.
Over 90% of the respondents in Malaysia, slightly 90% of respondents in Saudi Arabia, and
almost 80% in Turkey agreed that access to new insurance technology creates opportunity for
the growth of the Takaful industry. In contrast, 100% of the respondents in the UK are of the
view that access to new insurance technology does not create opportunity for the growth of the
Takaful sector. Meanwhile all the respondents in the four selected countries agreed that political
and economic stability provide opportunities for the future growth of the Takaful industry. The
level of agreement varied: 100% of the respondents in the UK, over 90% in Malaysia, over 70%
in Saudi Arabia and slightly over 80% in Turkey. Similarly, all the respondents in the four
selected countries agreed that cross-border expansion of the Takaful business to other countries
create opportunities for the Takaful industry. The levels of agreement of the respondents are:
100% in the UK, over 70% in Malaysia and Turkey and, over 60% in Saudi Arabia.
FIGURE 41: OPPORTUNITIES (SWOT SURVEY RESULTS)
(A) Strong Support from the Government for
Development of the Industry
(B) New Customers via Online Channels
(C) Access to New Insurance Technology (D) Future Growth due to Political and
Economic Stability
0%
20%
40%
60%
80%
100%
MY SA TR UK
SD D U A SA
0%
20%
40%
60%
80%
100%
MY SA TR UK
SD D U A SA
0%
20%
40%
60%
80%
100%
MY SA TR UK
SD D U A SA
0%
20%
40%
60%
80%
100%
MY SA TR UK
SD D U A SA