Islamic Insurtech Conceptual Framework: A Proposal.

Introduction: Insurtech refers to the use of technology innovations designed to squeeze cost and maximize efficiency from the current insurance industry model. Insurtech is a combination of the word's "insurance" and "technology," inspired by the term fintech i.e. financial technology. Whilst insurance company already move forward, Islamic Insurtech seems not a popular terminology. It may not have unique characteristic from stakeholder's perspective and therefore it may only be embedded in insurtech definition. Purpose: This paper aims to explore the potential of having Islamic insurtech in the global market and analyze the opportunity to establish a conceptual framework for Islamic Insurtech. Methodology: This study uses qualitative approach based on analyzing content analysis. A report from government agencies and corporate include website propose subject of the study were review to developing insurtech framework for takaful. The review of relevant case studies from the literature reveals some important findings in relation to Islamic Insurtech such as future outlook, health protection, funeral insurance and management and the framework. Findings: It is hoped that it will benefit the Islamic insurance or Takaful players to remain relevant in the global market. [ABSTRACT FROM AUTHOR]