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Realising the Corporate Social Performance (CSP) of Takaful (Islamic Insurance) Operators through Drone-Assisted Disaster Victim Identification (DVI)

Author

Listed:
  • Amirul Afif Muhamat

    (Faculty of Business and Management, Universiti Teknologi MARA, Selangor Campus, Puncak Alam 42300, Selangor, Malaysia)

  • Ahmad Farouk Zulkifli

    (Faculty of Business and Management, Universiti Teknologi MARA, Selangor Campus, Puncak Alam 42300, Selangor, Malaysia
    Pelorus Velocity Sdn Bhd, Persiaran Flora, Cyber 12, Cyberjaya 63000, Selangor, Malaysia)

  • Muhammad Azman Ibrahim

    (Faculty of Business and Management, Universiti Teknologi MARA, Selangor Campus, Puncak Alam 42300, Selangor, Malaysia)

  • Suzana Sulaiman

    (Faculty of Accountancy, Universiti Teknologi MARA, Selangor Campus, Puncak Alam 42300, Selangor, Malaysia)

  • Geetha Subramaniam

    (Graduate School of Business, SEGi University, Kota Damansara, Petaling Jaya 47810, Selangor, Malaysia)

  • Saadiah Mohamad

    (Business School, University of Southampton Malaysia, Nusajaya 79100, Johor, Malaysia)

  • Yasushi Suzuki

    (College of International Management, Ritsumeikan Asia Pacific University, Beppu 874-8577, Japan)

Abstract

The study investigates the potential for takaful operators to collaborate with the government by using drones to identify victims in the event of a mass disaster. It is critical to emphasise that takaful operators are not part of the government agencies involved in the search and rescue (S&R) operations. Nevertheless, takaful operators are part of the critical chain in the risk management process because they are the parties that will issue compensation to victims if they are takaful participants (policyholders). Through semi-structured interviews, feedback on this issue was gathered from key informants who are experts in their fields. This study included 21 key informants: first responders to an emergency or disaster from Malaysian government agencies, forensic experts, takaful association, drone practitioners (including drone pilots, Vice President (VP) of drone consultation services, and the owner of a drone company), actuarial expert, Shariah experts, regulators (representatives from the central bank), takaful participants, and accounting expert. Findings indicate that the benefits of using drones to the takaful operators are undisputable. Yet, the associated costs of using the device are the main concerns to the industry players. The middle path is to have joint funds between the takaful industry and the government to pool the funds for the national disaster management agency to employ drones for DVI needs in the event of a disaster. Thus, the findings of this study will be useful to the government and takaful association when developing future policy and guidelines for the takaful industry. Furthermore, this research adds to the body of knowledge and provides a better understanding of the subject.

Suggested Citation

  • Amirul Afif Muhamat & Ahmad Farouk Zulkifli & Muhammad Azman Ibrahim & Suzana Sulaiman & Geetha Subramaniam & Saadiah Mohamad & Yasushi Suzuki, 2022. "Realising the Corporate Social Performance (CSP) of Takaful (Islamic Insurance) Operators through Drone-Assisted Disaster Victim Identification (DVI)," Sustainability, MDPI, vol. 14(9), pages 1-18, April.
    • Handle: RePEc:gam:jsusta:v:14:y:2022:i:9:p:5440-:d:806777
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    References listed on IDEAS

    as
    1. Rusni Hassan & Syed Ahmed Salman, 2021. "Innovative Nature of the Takaful Industry in Malaysia: Are We with The Conventional Insurance Industry?Overview," International Journal of Business and Administrative Studies, Professor Dr. Bahaudin G. Mujtaba, vol. 7(1), pages 1-11.
    2. Mohd Ma’Sum Billah, 2019. "Islamic Insurance Products," Springer Books, Springer, number 978-3-030-17681-5, January.
    3. Benjamin Saunders & Julius Sim & Tom Kingstone & Shula Baker & Jackie Waterfield & Bernadette Bartlam & Heather Burroughs & Clare Jinks, 2018. "Saturation in qualitative research: exploring its conceptualization and operationalization," Quality & Quantity: International Journal of Methodology, Springer, vol. 52(4), pages 1893-1907, July.
    4. Domenico Campisi & Simone Gitto & Donato Morea, 2018. "Shari’ah-Compliant Finance: A Possible Novel Paradigm for Green Economy Investments in Italy," Sustainability, MDPI, vol. 10(11), pages 1-12, October.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Amirul Afif Muhamat Muhamat & Natasha Dzulkalnine & Nurul Syifaa Mohd Shakil & Suzana Sulaiman & Saadiah Mohamad & Robiatul Adawiyah Salihuddin Ayobbi & Anna Sardiana, 2023. "Social Cost-Benefit Analysis (SCBA) of Islamic Insurance (takaful) Drone-Assisted Disaster Victim Identification: Emotional Management," Information Management and Business Review, AMH International, vol. 15(1), pages 66-71.

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