Innovation in Takaful Insurance

Unlike conventional finance, the success of Islamic finance depends on both faith and economics. Furthermore, it is important to remember that the goal of Takaful practitioners is not to systematically "replicate" conventional insurance products and services in accordance with Islamic percepts, but to create new products and services that meet the needs of policyholders, even if this sometimes means slower growth. The challenge is to overcome the image of "cosmetic accounting" that unduly sticks to the Takaful business. Innovation will have to address products and services, processes and distribution. Until now, the insurance industry has always been able to renew its approaches and models and adapt its offers to societal evolutions. Today, almost all of this activity is being re-questioned, all the more so as it is being traversed, like other financial activities, by the digital revolution. Will the insurance industry, and particularly Takaful, be able to adapt? And above all, will they be able to impose themselves before others take their place?

Autorentext

Statistician and economist engineer, holder of a DESS in Marketing from the IAE of Clermont Ferrand and of an Executive Master in Islamic Finance from Paris Dauphine, Mr. ZEROUAL has held management positions in marketing and communication, in banking and insurance before taking charge of the Takaful subsidiary of the first financial group in Morocco