Factors influencing selection of contractors’ all risk Takaful product among Bumiputera contractors in Malaysia

Contractors' All Risks (CAR) is a complete insurance policy in the construction project to insure building construction works and other civil engineering works. However, CAR Takaful selection among Bumiputera contractors is still low as project data records from Pasukan Projek Khas 1, JKR Malay...

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Main Author:	Mohd Azizi, Ibrahim
Format:	Thesis
Language:	eng eng
Published:	2022
Subjects:	HD61 Risk Management HG Finance
Online Access:	https://etd.uum.edu.my/10562/1/permission%20to%20deposit-grant%20the%20permission-s903157.pdf https://etd.uum.edu.my/10562/2/s903157_01.pdf
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id	my-uum-etd.10562
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spelling	my-uum-etd.105622023-07-16T01:08:14Z Factors influencing selection of contractors’ all risk Takaful product among Bumiputera contractors in Malaysia 2022 Mohd Azizi, Ibrahim Mat Nor, Alias Raja Hisham, Raja Rizal Iskandar College of Business (COB) College of Business HD61 Risk Management HG Finance Contractors' All Risks (CAR) is a complete insurance policy in the construction project to insure building construction works and other civil engineering works. However, CAR Takaful selection among Bumiputera contractors is still low as project data records from Pasukan Projek Khas 1, JKR Malaysia, show that only ten percent of the Bumiputera contractors choose CAR Takaful over CAR insurance. Also, statistics show that CAR Takaful's share of gross contributions is still much lower than CAR insurance's share of gross premiums. Therefore, this study examines the relationship between internal factors (attitude, awareness, understanding, and religiosity) and external factors (subjective norm, service quality, and role of agents) with CAR Takaful product selection. This study also analyses the mediating effect of intention in the relationship between internal and external factors with CAR Takaful product selection. The study uses the Theory of Planned Behaviour (TPB) as the underpinning theory. Through the quantitative survey method, 311 questionnaires were collected from targeted Bumiputera contractors in Malaysia (Grade G1 to Grade G7), except in Sabah and Sarawak, that are registered with the Construction Industry Development Board (CIDB) and are also members of Persatuan Kontraktor Melayu Malaysia (PKMM). The data was analysed using the Partial Least Squares Structural Equation Modeling (PLS-SEM) technique. The findings showed that understanding, religiosity, subjective norm, and intention positively affect CAR Takaful selection. However, attitude, awareness, service quality, and role of agents did not affect CAR Takaful selection. In addition, attitude, religiosity, and subjective norm positively affect intention. The findings also found that the relationship between attitude, awareness, religiosity, subjective norm, and role of agents with CAR Takaful selection is positively mediated by intention. These findings can guide Takaful operators and agents to formulate the right strategy, policies, and services to attract Bumiputera contractors to select CAR Takaful products in the construction project. 2022 Thesis https://etd.uum.edu.my/10562/ https://etd.uum.edu.my/10562/1/permission%20to%20deposit-grant%20the%20permission-s903157.pdf text eng staffonly https://etd.uum.edu.my/10562/2/s903157_01.pdf text eng public other doctoral Universiti Utara Malaysia
institution	Universiti Utara Malaysia
collection	UUM ETD
language	eng eng
advisor	Mat Nor, Alias Raja Hisham, Raja Rizal Iskandar
topic	HD61 Risk Management HG Finance
spellingShingle	HD61 Risk Management HG Finance Mohd Azizi, Ibrahim Factors influencing selection of contractors’ all risk Takaful product among Bumiputera contractors in Malaysia
description	Contractors' All Risks (CAR) is a complete insurance policy in the construction project to insure building construction works and other civil engineering works. However, CAR Takaful selection among Bumiputera contractors is still low as project data records from Pasukan Projek Khas 1, JKR Malaysia, show that only ten percent of the Bumiputera contractors choose CAR Takaful over CAR insurance. Also, statistics show that CAR Takaful's share of gross contributions is still much lower than CAR insurance's share of gross premiums. Therefore, this study examines the relationship between internal factors (attitude, awareness, understanding, and religiosity) and external factors (subjective norm, service quality, and role of agents) with CAR Takaful product selection. This study also analyses the mediating effect of intention in the relationship between internal and external factors with CAR Takaful product selection. The study uses the Theory of Planned Behaviour (TPB) as the underpinning theory. Through the quantitative survey method, 311 questionnaires were collected from targeted Bumiputera contractors in Malaysia (Grade G1 to Grade G7), except in Sabah and Sarawak, that are registered with the Construction Industry Development Board (CIDB) and are also members of Persatuan Kontraktor Melayu Malaysia (PKMM). The data was analysed using the Partial Least Squares Structural Equation Modeling (PLS-SEM) technique. The findings showed that understanding, religiosity, subjective norm, and intention positively affect CAR Takaful selection. However, attitude, awareness, service quality, and role of agents did not affect CAR Takaful selection. In addition, attitude, religiosity, and subjective norm positively affect intention. The findings also found that the relationship between attitude, awareness, religiosity, subjective norm, and role of agents with CAR Takaful selection is positively mediated by intention. These findings can guide Takaful operators and agents to formulate the right strategy, policies, and services to attract Bumiputera contractors to select CAR Takaful products in the construction project.
format	Thesis
qualification_name	other
qualification_level	Doctorate
author	Mohd Azizi, Ibrahim
author_facet	Mohd Azizi, Ibrahim
author_sort	Mohd Azizi, Ibrahim
title	Factors influencing selection of contractors’ all risk Takaful product among Bumiputera contractors in Malaysia
title_short	Factors influencing selection of contractors’ all risk Takaful product among Bumiputera contractors in Malaysia
title_full	Factors influencing selection of contractors’ all risk Takaful product among Bumiputera contractors in Malaysia
title_fullStr	Factors influencing selection of contractors’ all risk Takaful product among Bumiputera contractors in Malaysia
title_full_unstemmed	Factors influencing selection of contractors’ all risk Takaful product among Bumiputera contractors in Malaysia
title_sort	factors influencing selection of contractors’ all risk takaful product among bumiputera contractors in malaysia
granting_institution	Universiti Utara Malaysia
granting_department	College of Business (COB)
publishDate	2022
url	https://etd.uum.edu.my/10562/1/permission%20to%20deposit-grant%20the%20permission-s903157.pdf https://etd.uum.edu.my/10562/2/s903157_01.pdf
_version_	1776103843212296192

Factors influencing selection of contractors’ all risk Takaful product among Bumiputera contractors in Malaysia

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