The Customer-Centric Approach: Evaluating Family Takaful Products at Fwd Takaful Berhad

Sukriah Ismail; Marina Abu Bakar; Hanizan Shaker Hussain; Mohamad Saufee Anuar; Md Nasri Ali

Sukriah Ismail Kulliyyah of Shariah & Law, Universiti Islam Antarabangsa Sultan Abdul Halim Mu’adzam Shah, Kedah, Malaysia
Marina Abu Bakar Academy of Contemporary Islamic Studies, Universiti Teknologi MARA Perlis, Malaysia http://orcid.org/0000-0003-3442-0575
Hanizan Shaker Hussain School of Computing, Quest International University, Perak, Malaysia http://orcid.org/0000-0003-3671-8770
Mohamad Saufee Anuar Ranhill SAJ Sdn. Bhd, Johor, Malaysia
Md Nasri Ali Takaful Ikhlas Family Berhad, Pulau Pinang, Malaysia

Abstract

This study aims to evaluate the management efficiency of family takaful products at FWD Takaful Berhad, focusing on customer preferences and the factors influencing them; specifically religious, ethical and practical considerations. Utilizing quantitative methods, the study employs regression analysis to examine the relationships between customer preferences and these influencing factors, with data collected through a structured survey and analyzed using AMOS software to identify key trends and correlations. The findings reveal significant relationships between customer preferences and religious compliance, ethical conduct of takaful operators, and practical usability, suggesting that customer preferences are strongly influenced by these factors and highlighting the need for alignment between family takaful products and customer values. While the study is limited to FWD Takaful Berhad and may not be generalizable to other operators, the insights gained offer a valuable understanding of customer behaviors in the Islamic financial sector. This study provides critical insights for takaful operators, emphasizing the importance of incorporating religious, ethical, and practical factors into product development and marketing strategies to improve customer satisfaction and loyalty. It contributes to the growing body of research on customer preferences in the takaful industry, providing actionable recommendations for enhancing product offerings and aligning them with customer expectations.

Research Paper

Keywords: Family Takaful, Customer Preferences, Management Efficiency, Islamic Finance, FWD Takaful Berhad

Reference to this paper should be made as follows: Ismail, S., Abu Bakar, M., Hussain, H.S., Anuar, M.S., & Ali, M.N. (2025). The Customer-Centric Approach: Evaluating Family Takaful Products at Fwd Takaful Berhad. Journal of Entrepreneurship, Business and Economics, 13(1), 55–101.