Global Opportunity Analysis and Industry Forecast, 2021-2030

Takaful Insurance Market by Distribution Channel (Agents & Brokers, Banks, Direct Response & Others), Type (Takaful Family & General Takaful) & Application (Personal & Business): Global Opportunity Analysis & Industry Forecast, 2021-2030

New York, August 25, 2021 (GLOBE NEWSWIRE) – announces the publication of the report “Takaful Insurance Market By Distribution Channel, Type, and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030” – https: // www / p06126694 /? utm_source = GNW

Takaful is an insurance system based on Islamic principles of mutual assistance and giving and policyholders under a takaful agreement agree to guarantee each other and contribute to a pool or mutual fund instead. to pay premiums. The pool of collected contributions creates the takaful fund and each participant’s contribution is based on the type of coverage required and their personal situation. A takaful contract specifies the nature of the risk and the duration of the cover, similar to that of a conventional insurance policy. The takaful fund is managed and administered on behalf of the participants by a takaful operator charging an agreed fee to cover the costs.
The increase in awareness of takaful insurance in Muslim and non-Muslim countries has increased market penetration by offering better services compared to conventional insurance, which is a major stimulus for the growth of the market. . In addition, the distribution of excess funds among members in case no claims arise and the adoption of technology in the takaful insurance market are some of the factors that are propelling the growth of the market. However, the lack of standardization due to the contrast between countries to change the regulation of takaful insurance and the limited awareness of the coverages included in the takaful insurance policy are some of the major factors hampering the growth of the market in the market. takaful insurance. On the contrary, government initiatives aimed at developing takaful insurance by helping new companies to enter the market easily, will help new players to bring more innovative products to consumers. In addition, advancements in technologies used in insurance such as blockchain, predictive analytics, artificial intelligence and others are expected to significantly boost the takaful insurance market in the coming years.

The takaful insurance market is segmented on the basis of distribution channel, type, application, and region. By distribution channel, it is segmented into agents and brokers, banks, direct response and others. By type, it is separated into familial and general takaful. Based on the application, the market is divided into personal and commercial. By region, it is analyzed across CCG, Asia, MEA and the rest of the world.
The report analyzes the profiles of major players operating in the takaful insurance market such as Abu Dhabi National Takaful Co., Allianz, AMAN Insurance, Islamic Insurance, Prudential BSN Takaful Berhad, Qatar Islamic Insurance, SALAMA Islamic Arab Insurance Company, Syarikat Takaful Brunei Darussalam, Takaful International and Zurich Malaysia. These players have adopted various strategies to increase their market penetration and strengthen their position in the takaful insurance market.

Main benefits for stakeholders
• The study provides an in-depth analysis of the takaful insurance market along with current and future trends to illustrate impending pockets of investment.
• Information on key drivers, restraints, and opportunities and their analysis of impact on takaful insurance market size is provided in the report.
• Porter’s Five Forces Analysis illustrates the power of buyers and suppliers operating in the industry.
• Quantitative analysis of takaful insurance market from 2021 to 2030 is provided to determine the market potential.

Key market segments

By distribution channel
• Agents and brokers
• Banks
• Direct response
• Others

By type
• Family takaful
• General Takaful
o Takaful engine
? Liability insurance
? Full and optional coverage
o Property & Fire
o Medical & Health Takaful
o Marine, aviation and transport
o Others

By application
• Staff
• Commercial

By region
o Saudi Arabia
o United Arab Emirates
o Bahrain
o Kuwait
o Qatar
• Asia
o Malaysia
o Indonesia
o Brunei
o Rest of Asia

o Iran
o Jordan
o Sudan
o Egypt
o Nigeria
o Rest of the MEA

• Rest of the world

Key market players
• Abu Dhabi National Takaful Co.
• Allianz
• AMAN insurance
• Islamic insurance
• Prudential BSN Takaful Berhad
• Islamic insurance from Qatar
• SALAMA Islamic Arab Insurance Company
• Syarikat Takaful Brunei Darussalam
• Takaful International
• Zurich Malaysia
Read the full report:

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