Two of the key challenges confronting the takaful industry are the penetration levels for insurance and risk management solutions that are not mandatory in the Gulf. Within this small market there is intensive competition often based on prices, with very little attention to consumer insights and needs, according to MIT Consulting chief executive Hilmy Cader.
“Effective strategic marketing planning significantly improves the chances of business success by gearing the organisation to meet future challenges,” he said. “Takaful and conventional insurance companies possess a diverse set of needs in terms of what they expect from a retakaful………………………………………..Full Article: Source