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Measuring the performance of Takaful operators in Malaysia using DEA method / Tengku Izzat Hazman Tengku Azman

The birth of the Takaful industry in Malaysia was due to the prevalent demand of the Muslim population for an Islamic alternative to conventional insurance. First launched in 1985, Takaful's presence in Malaysia has seen significant growth after more than three decades and has made an essential...

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Main Author: Tengku Azman, Tengku Izzat Hazman
Format: Student Project
Language:English
Published: 2021
Subjects:
Insurance
Analysis
Online Access:http://ir.uitm.edu.my/id/eprint/44793/1/44793.pdf
http://ir.uitm.edu.my/id/eprint/44793/
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spelling my.uitm.ir.447932021-06-22T03:08:43Z http://ir.uitm.edu.my/id/eprint/44793/ Measuring the performance of Takaful operators in Malaysia using DEA method / Tengku Izzat Hazman Tengku Azman Tengku Azman, Tengku Izzat Hazman Insurance Analysis The birth of the Takaful industry in Malaysia was due to the prevalent demand of the Muslim population for an Islamic alternative to conventional insurance. First launched in 1985, Takaful's presence in Malaysia has seen significant growth after more than three decades and has made an essential contribution to Malaysia's Islamic financial system. As of 2019, there are 15 registered Takaful operators in Malaysia providing general and family Takaful services. It is very important to measure the Takaful operators’ performance as it will lead to a good management. The main objective of this research is to measure the overall performances of the Takaful operators as well as to measure their efficiency and rank them based on their performance. This paper analyses the performances of local and foreign Takaful operators in Malaysia which include seven selected local Takaful operators namely AMMetLife Takaful Berhad, Etiqa Family Takaful Berhad, FWD Takaful Berhad, Hong Leong MSIG Takaful Berhad, Prudential BSN Takaful Berhad, Sun Life Malaysia Takaful Berhad and Syarikat Takaful Malaysia while another three selected foreign Takaful operators are AIA PUBLIC Takaful Bhd, Great Eastern Takaful Berhad and Zurich Takaful Malaysia Berhad. The data used in this study are chosen from five subsequent years from 2014 to 2018. In this study, the two-stage Data Envelopment Analysis (DEA) is used to measure the performance of Takaful operators in Malaysia during 2014 to 2018. DEA is a method for measuring the relative efficiency of decision-making units (DMUs) with multiple inputs and outputs. Diagnosis of the deficiencies can be identified via DEA and possible ways can be introduced to improve the performance. The result of this study has stated that none of the Takaful operators exhibit best practices in both stages of the two-stage DEA. Furthermore, it is also stated that all of the Takaful operators are relatively stable in their overall performances. The result result shows that the most efficient Takaful operators in Malaysia from 2014 to 2018 are Prudential BSN Takaful Berhad and Etiqa Family Takaful Berhad. In conclusion, the study will determine the performance of Takaful operators in Malaysia and the result of the study will provide the significant information regarding their efficiency. 2021-04-06 Student Project NonPeerReviewed text en http://ir.uitm.edu.my/id/eprint/44793/1/44793.pdf ID44793 Tengku Azman, Tengku Izzat Hazman (2021) Measuring the performance of Takaful operators in Malaysia using DEA method / Tengku Izzat Hazman Tengku Azman. [Student Project] (Unpublished)
institution Universiti Teknologi Mara
building Tun Abdul Razak Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Teknologi Mara
content_source UiTM Institutional Repository
url_provider http://ir.uitm.edu.my/
language English
topic Insurance
Analysis
spellingShingle Insurance
Analysis
Tengku Azman, Tengku Izzat Hazman
Measuring the performance of Takaful operators in Malaysia using DEA method / Tengku Izzat Hazman Tengku Azman
description The birth of the Takaful industry in Malaysia was due to the prevalent demand of the Muslim population for an Islamic alternative to conventional insurance. First launched in 1985, Takaful's presence in Malaysia has seen significant growth after more than three decades and has made an essential contribution to Malaysia's Islamic financial system. As of 2019, there are 15 registered Takaful operators in Malaysia providing general and family Takaful services. It is very important to measure the Takaful operators’ performance as it will lead to a good management. The main objective of this research is to measure the overall performances of the Takaful operators as well as to measure their efficiency and rank them based on their performance. This paper analyses the performances of local and foreign Takaful operators in Malaysia which include seven selected local Takaful operators namely AMMetLife Takaful Berhad, Etiqa Family Takaful Berhad, FWD Takaful Berhad, Hong Leong MSIG Takaful Berhad, Prudential BSN Takaful Berhad, Sun Life Malaysia Takaful Berhad and Syarikat Takaful Malaysia while another three selected foreign Takaful operators are AIA PUBLIC Takaful Bhd, Great Eastern Takaful Berhad and Zurich Takaful Malaysia Berhad. The data used in this study are chosen from five subsequent years from 2014 to 2018. In this study, the two-stage Data Envelopment Analysis (DEA) is used to measure the performance of Takaful operators in Malaysia during 2014 to 2018. DEA is a method for measuring the relative efficiency of decision-making units (DMUs) with multiple inputs and outputs. Diagnosis of the deficiencies can be identified via DEA and possible ways can be introduced to improve the performance. The result of this study has stated that none of the Takaful operators exhibit best practices in both stages of the two-stage DEA. Furthermore, it is also stated that all of the Takaful operators are relatively stable in their overall performances. The result result shows that the most efficient Takaful operators in Malaysia from 2014 to 2018 are Prudential BSN Takaful Berhad and Etiqa Family Takaful Berhad. In conclusion, the study will determine the performance of Takaful operators in Malaysia and the result of the study will provide the significant information regarding their efficiency.
format Student Project
author Tengku Azman, Tengku Izzat Hazman
author_facet Tengku Azman, Tengku Izzat Hazman
author_sort Tengku Azman, Tengku Izzat Hazman
title Measuring the performance of Takaful operators in Malaysia using DEA method / Tengku Izzat Hazman Tengku Azman
title_short Measuring the performance of Takaful operators in Malaysia using DEA method / Tengku Izzat Hazman Tengku Azman
title_full Measuring the performance of Takaful operators in Malaysia using DEA method / Tengku Izzat Hazman Tengku Azman
title_fullStr Measuring the performance of Takaful operators in Malaysia using DEA method / Tengku Izzat Hazman Tengku Azman
title_full_unstemmed Measuring the performance of Takaful operators in Malaysia using DEA method / Tengku Izzat Hazman Tengku Azman
title_sort measuring the performance of takaful operators in malaysia using dea method / tengku izzat hazman tengku azman
publishDate 2021
url http://ir.uitm.edu.my/id/eprint/44793/1/44793.pdf
http://ir.uitm.edu.my/id/eprint/44793/
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score 13.211869

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