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Consumer acceptance toward takaful in Pakistan An application of diffusion of innovation theory

Purpose – The purpose of this paper is to determine the factors influencing customer adoption toward takaful products in Pakistan. Design/methodology/approach – The study used five attributes of diffusion innovation theory (DOI), namely, relative advantage, compatibility, trialability, observability...

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Main Authors: Muhammad Ali, Syed Ali Raza, Chin, Hong Puah, Hanudin Amin
Format: Article
Language:English
English
Published: Emerald Publishing Limited 2019
Subjects:
HG8011-9999 Insurance
Online Access:https://eprints.ums.edu.my/id/eprint/31821/1/Consumer%20acceptance%20toward%20takaful%20in%20Pakistan%20.pdf
https://eprints.ums.edu.my/id/eprint/31821/2/Consumer%20acceptance%20toward%20takaful%20in%20Pakistan%201.pdf
https://eprints.ums.edu.my/id/eprint/31821/
https://www.emerald.com/insight/content/doi/10.1108/IJOEM-08-2017-0275/full/pdf?casa_token=VsmrK6fxZqMAAAAA:avXkb6_u4kwZNoIJ5Xct0u9I9cw1lKHr4h6qn_XqYSAn00uvgaaPx9K-p2jeX9qFFCEnJMhYVkFrIW6hQlgdnLDwr__qITCwh6fvt3eReJ0PGW_bNaMo
https://doi.org/ 10.1108/IJOEM-08-2017-0275
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spelling my.ums.eprints.318212022-03-03T00:33:55Z https://eprints.ums.edu.my/id/eprint/31821/ Consumer acceptance toward takaful in Pakistan An application of diffusion of innovation theory Muhammad Ali Syed Ali Raza Chin, Hong Puah Hanudin Amin HG8011-9999 Insurance Purpose – The purpose of this paper is to determine the factors influencing customer adoption toward takaful products in Pakistan. Design/methodology/approach – The study used five attributes of diffusion innovation theory (DOI), namely, relative advantage, compatibility, trialability, observability and complexity. Furthermore, the authors introduced two additional constructs, namely, consumer awareness and religiosity to analyze the adoption behavior of customers. A total of 365 questionnaires were distributed among the participants of the study. The survey was conducted in the Karachi city where the respondents were the existing and potential users of takaful products. The theoretical model of DOI theory was tested using structural equation modeling. Findings – The findings report that complexity has a negative impact on the adoption of takaful, whereas relative advantage, compatibility, trialability, observability, religiosity and consumer awareness shows a positive and significant influence. Originality/value – It is a noteworthy point that past literature is quite limited to investigate the determinants of consumer intentions to adopt takaful products. Based on this argument, the authors build the study to provide a scope and coverage in the field of Islamic insurance. The authors also expect that the research will encourage and provide a venue for forthcoming studies to help policy makers and academicians in this emerging business. Emerald Publishing Limited 2019 Article PeerReviewed text en https://eprints.ums.edu.my/id/eprint/31821/1/Consumer%20acceptance%20toward%20takaful%20in%20Pakistan%20.pdf text en https://eprints.ums.edu.my/id/eprint/31821/2/Consumer%20acceptance%20toward%20takaful%20in%20Pakistan%201.pdf Muhammad Ali and Syed Ali Raza and Chin, Hong Puah and Hanudin Amin (2019) Consumer acceptance toward takaful in Pakistan An application of diffusion of innovation theory. International Journal of Emerging Markets, 14 (4). pp. 620-638. ISSN 1746-8809 https://www.emerald.com/insight/content/doi/10.1108/IJOEM-08-2017-0275/full/pdf?casa_token=VsmrK6fxZqMAAAAA:avXkb6_u4kwZNoIJ5Xct0u9I9cw1lKHr4h6qn_XqYSAn00uvgaaPx9K-p2jeX9qFFCEnJMhYVkFrIW6hQlgdnLDwr__qITCwh6fvt3eReJ0PGW_bNaMo https://doi.org/ 10.1108/IJOEM-08-2017-0275
institution Universiti Malaysia Sabah
building UMS Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Malaysia Sabah
content_source UMS Institutional Repository
url_provider http://eprints.ums.edu.my/
language English
English
topic HG8011-9999 Insurance
spellingShingle HG8011-9999 Insurance
Muhammad Ali
Syed Ali Raza
Chin, Hong Puah
Hanudin Amin
Consumer acceptance toward takaful in Pakistan An application of diffusion of innovation theory
description Purpose – The purpose of this paper is to determine the factors influencing customer adoption toward takaful products in Pakistan. Design/methodology/approach – The study used five attributes of diffusion innovation theory (DOI), namely, relative advantage, compatibility, trialability, observability and complexity. Furthermore, the authors introduced two additional constructs, namely, consumer awareness and religiosity to analyze the adoption behavior of customers. A total of 365 questionnaires were distributed among the participants of the study. The survey was conducted in the Karachi city where the respondents were the existing and potential users of takaful products. The theoretical model of DOI theory was tested using structural equation modeling. Findings – The findings report that complexity has a negative impact on the adoption of takaful, whereas relative advantage, compatibility, trialability, observability, religiosity and consumer awareness shows a positive and significant influence. Originality/value – It is a noteworthy point that past literature is quite limited to investigate the determinants of consumer intentions to adopt takaful products. Based on this argument, the authors build the study to provide a scope and coverage in the field of Islamic insurance. The authors also expect that the research will encourage and provide a venue for forthcoming studies to help policy makers and academicians in this emerging business.
format Article
author Muhammad Ali
Syed Ali Raza
Chin, Hong Puah
Hanudin Amin
author_facet Muhammad Ali
Syed Ali Raza
Chin, Hong Puah
Hanudin Amin
author_sort Muhammad Ali
title Consumer acceptance toward takaful in Pakistan An application of diffusion of innovation theory
title_short Consumer acceptance toward takaful in Pakistan An application of diffusion of innovation theory
title_full Consumer acceptance toward takaful in Pakistan An application of diffusion of innovation theory
title_fullStr Consumer acceptance toward takaful in Pakistan An application of diffusion of innovation theory
title_full_unstemmed Consumer acceptance toward takaful in Pakistan An application of diffusion of innovation theory
title_sort consumer acceptance toward takaful in pakistan an application of diffusion of innovation theory
publisher Emerald Publishing Limited
publishDate 2019
url https://eprints.ums.edu.my/id/eprint/31821/1/Consumer%20acceptance%20toward%20takaful%20in%20Pakistan%20.pdf
https://eprints.ums.edu.my/id/eprint/31821/2/Consumer%20acceptance%20toward%20takaful%20in%20Pakistan%201.pdf
https://eprints.ums.edu.my/id/eprint/31821/
https://www.emerald.com/insight/content/doi/10.1108/IJOEM-08-2017-0275/full/pdf?casa_token=VsmrK6fxZqMAAAAA:avXkb6_u4kwZNoIJ5Xct0u9I9cw1lKHr4h6qn_XqYSAn00uvgaaPx9K-p2jeX9qFFCEnJMhYVkFrIW6hQlgdnLDwr__qITCwh6fvt3eReJ0PGW_bNaMo
https://doi.org/ 10.1108/IJOEM-08-2017-0275
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score 13.211869

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