A shift from conventional to Takaful is underway in Kenya.
AMS Insurance Brokers, which sells Takaful and conventional insurance, said that inquiries from both Muslim and non-Muslim clients about Takaful services have increased.
AMS’s MD, Abdalla Salim told The Islamic Globe: “We have noticed a growing trend from some of our clients who have chosen to move from conventional [insurance] to Takaful. Their motivation seems to be the opportunity to share profits.”
Some big clients are expected to make the move into Takaful, including the Kenya Transport Association, an association of Kenyan road transport companies, that boasts a membership of over 70 firms and thousands heavy commercial vehicles.
The shift into Takaful is partly attributed to the growing awareness of the insurance concept that was introduced in Kenya barely a year ago by Takaful Insurance of Africa.
TIA has been running public awareness campaigns in mosques as it seeks to consolidate its market amongst Kenya’s Muslim population. The entry of the transport association is expected to increase the number of non-Muslim Takaful clients.
source: The Islamic Globe