2024_An Exploratory Study On The Sustainability Of Successful Takaful Agents In Malaysia
| Format: | General Document |
|---|
| _version_ | 1860798324830896128 |
|---|---|
| building | INTELEK Repository |
| collection | Online Access |
| collectionurl | https://intelek.unisza.edu.my/intelek/pages/search.php?search=!collection3 |
| copyright | Copyright©PWB2025 |
| country | Malaysia |
| date | 2024-10-21 |
| format | General Document |
| id | 17196 |
| institution | UniSZA |
| originalfilename | AN EXPLORATORY STUDY ON THE SUSTAINABILITY OF SUCCESSFUL TAKAFUL AGENTS IN MALAYSIA (PHD_2024).pdf |
| person | Wan Noor Ezureen Wan Mohd Zawawi |
| recordtype | oai_dc |
| resourceurl | https://intelek.unisza.edu.my/intelek/pages/view.php?ref=17196 |
| sourcemedia | Server storage Scanned document |
| spelling | 17196 https://intelek.unisza.edu.my/intelek/pages/view.php?ref=17196 https://intelek.unisza.edu.my/intelek/pages/search.php?search=!collection3 General Document Malaysia Library Staff (Top Management) Library Staff (Management) Library Staff (Support) Terengganu Faculty of Business and Management English application/pdf 1.7 Server storage Scanned document Universiti Sultan Zainal Abidin UniSZA Private Access Universiti Sultan Zainal Abidin Copyright©PWB2025 Organizational behavior Islamic insurance Intrinsic Motivation Motivation (Psychology) Dissertations, Academic Qualitative study 2024_An Exploratory Study On The Sustainability Of Successful Takaful Agents In Malaysia Wan Noor Ezureen Wan Mohd Zawawi Sustainability of Takaful Agents Takaful Industry Principal-Agent Relationship Extrinsic Motivation Conflict Management Information Asymmetry Self-Determination Theory Takaful — Malaysia Insurance agents — Malaysia Sustainable development — Malaysia Agency (Law) 2024-10-21 Sustainability Takaful agents is important for the growth and development of the Takaful industry that contributes to Malaysia’s economy. Essentially, Takaful agents hold pivotal roles as representatives of Takaful operators, responsible for marketing and distributing Takaful services to the public. Unfortunately, there is a constantly declining number of registered agents recorded by the Malaysia Takaful Association from 2012 to 2018. The decline of 12.4 percent in seven years indicated that the Takaful agents are vulnerable to sustain in the industry. The dramatically declining number of agents has adversely affected the growth of the Takaful industry. From another point of view, little attention has been given to the sustainability context of Takaful agents. The existing study only focuses on one dimension instead of a multi-dimension. Consequently, there is a need for an integrated model to sustain Takaful agents in the industry. Therefore, this study’s objective is to foster a comprehensive framework in describing the sustainability phenomenon of Takaful agents by integrating the two main theories of Agency and Self-Determination Theory. A qualitative study approach has been used in this study with a semi-structured interview method. A list of twelve successful Takaful agents in Malaysia participating in data collection through purposive sampling was obtained from the Malaysian Takaful Association (MTA). The data was analysed using NVIVO 12 (Plus version) until the data collected reached a saturation point. Based on the findings, this study integrated two elements which are the principal-agent relationship and motivation. Both elements comprise five themes which are interrelated; three main themes in the principal-agent relationship are (i) economic benefits, (ii) information asymmetries, and (iii) conflict management, whereas individual motivation contains two main themes (i) intrinsic and (ii) extrinsic motivation. All five main themes encompass several sub-themes to support the themes in the principal-agent relationship and individual motivation. Thus, a comprehensive multi-dimensional model has been successfully cultivated through the integration of the theories. The integration model of the principal-agent relationship and individual motivation presented new empirical evidence on sustainability of Takaful agents in Malaysia. The exploration of the new model is relatively important since it contributes to the theoretical perspective. Hence, this new inclusive model is expected to provide a significant contribution, practically and theoretically, to academicians, practitioners, and policymakers towards the sustainability phenomenon of Takaful agents in Malaysia. Overall, sustainability of Takaful agents contributes to national annual growth. It benefits the government by boosting the development of the Takaful sector, which contributes to the yearly national revenue. uuid:869528A2-8E24-4F5C-B3B1-ACF8DF7A0B10 329 AN EXPLORATORY STUDY ON THE SUSTAINABILITY OF SUCCESSFUL TAKAFUL AGENTS IN MALAYSIA (PHD_2024).pdf Thesis |
| spellingShingle | 2024_An Exploratory Study On The Sustainability Of Successful Takaful Agents In Malaysia |
| state | Terengganu |
| subject | Organizational behavior Islamic insurance Motivation (Psychology) Dissertations, Academic Takaful — Malaysia Insurance agents — Malaysia Sustainable development — Malaysia Agency (Law) |
| summary | Sustainability Takaful agents is important for the growth and development of the Takaful industry that contributes to Malaysia’s economy. Essentially, Takaful agents hold pivotal roles as representatives of Takaful operators, responsible for marketing and distributing Takaful services to the public. Unfortunately, there is a constantly declining number of registered agents recorded by the Malaysia Takaful Association from 2012 to 2018. The decline of 12.4 percent in seven years indicated that the Takaful agents are vulnerable to sustain in the industry. The dramatically declining number of agents has adversely affected the growth of the Takaful industry. From another point of view, little attention has been given to the sustainability context of Takaful agents. The existing study only focuses on one dimension instead of a multi-dimension. Consequently, there is a need for an integrated model to sustain Takaful agents in the industry. Therefore, this study’s objective is to foster a comprehensive framework in describing the sustainability phenomenon of Takaful agents by integrating the two main theories of Agency and Self-Determination Theory. A qualitative study approach has been used in this study with a semi-structured interview method. A list of twelve successful Takaful agents in Malaysia participating in data collection through purposive sampling was obtained from the Malaysian Takaful Association (MTA). The data was analysed using NVIVO 12 (Plus version) until the data collected reached a saturation point. Based on the findings, this study integrated two elements which are the principal-agent relationship and motivation. Both elements comprise five themes which are interrelated; three main themes in the principal-agent relationship are (i) economic benefits, (ii) information asymmetries, and (iii) conflict management, whereas individual motivation contains two main themes (i) intrinsic and (ii) extrinsic motivation. All five main themes encompass several sub-themes to support the themes in the principal-agent relationship and individual motivation. Thus, a comprehensive multi-dimensional model has been successfully cultivated through the integration of the theories. The integration model of the principal-agent relationship and individual motivation presented new empirical evidence on sustainability of Takaful agents in Malaysia. The exploration of the new model is relatively important since it contributes to the theoretical perspective. Hence, this new inclusive model is expected to provide a significant contribution, practically and theoretically, to academicians, practitioners, and policymakers towards the sustainability phenomenon of Takaful agents in Malaysia. Overall, sustainability of Takaful agents contributes to national annual growth. It benefits the government by boosting the development of the Takaful sector, which contributes to the yearly national revenue. |
| title | 2024_An Exploratory Study On The Sustainability Of Successful Takaful Agents In Malaysia |
| title_full | 2024_An Exploratory Study On The Sustainability Of Successful Takaful Agents In Malaysia |
| title_fullStr | 2024_An Exploratory Study On The Sustainability Of Successful Takaful Agents In Malaysia |
| title_full_unstemmed | 2024_An Exploratory Study On The Sustainability Of Successful Takaful Agents In Malaysia |
| title_short | 2024_An Exploratory Study On The Sustainability Of Successful Takaful Agents In Malaysia |
| title_sort | 2024_an exploratory study on the sustainability of successful takaful agents in malaysia |