Takaful has grown by leaps and bounds with premiums moving from $4bn in 2007 and expected to reach $20bn by 2017. There is a huge market for Takaful operators to tap into, with the Muslim population expected to rise from 1.7bn at present to 2.2bn by 2030 and many non-Muslims now being interested in Takaful. But Takaful is still small relative to its potential and to the conventional markets.
In the traditional world, the hype is about digital disruption. Will Takaful be immune to it? Takaful operators must take a pro-active stand to cater to the changing dynamics of the world and the changing needs of Muslims. Can Takaful operators rise to the challenge to exploit digital disruption with cutting-edge technology in social media, telematics and multi-channel distribution to grow the business, become more efficient and reach customers efficiently. Or will they be left behind?
Hence, this year’s Takaful Rendezvous will look at the unique value proposition of the Takaful in the era of digital disruption while rising to the challenges of innovation, distribution and brand strategy to capture the mass market. The Takaful Rendezvous offers a valuable platform to interact and engage with regulators and market players to strategise on the future prospects of the industry.
For more information on this event, please visit: http://www.asiainsurancereview.com/airtakrend2016/