Affiliations 

  • 1 Universiti Teknologi MARA
  • 2 Management and Science University
MyJurnal

Abstract

This paper aims to explore the readi n ess of takaful operators to integrate waqf as part of their product feature by assessing on the components of as proposed in the New Product Development Model: marketing supports; formalized development process and top management supports. Questionnaire w a s employed in this survey and takaful operators’ employees who involved in product development were selected such as actuaries, business development managers and their executives. Unexpectedly, several takaful operators withdrew from participating in the s urvey (it was last minute) which is limitation in this study. Accordingly, it caused the use of non parametric tests in this study since the data is not normally distributed. Spearman rank correlation shows that formalized development process is the sig n ificant factor that influenced the readiness of the takaful operators to integrate waqf in their products. However, the other two independent variables which are marketing supports and top management supports depicted insignificant result. Nevertheless, t h e findings were still able to provide insights on the integration of waqf by takaful operators as their latest products’ feature.