Critical success factors for intention to family takaful adoption in Malaysia

Abstract

This study investigates the critical success factors for intention to family takaful adoption in Malaysia. The research explores the direct relationships among performance expectancy, effort expectancy, price value, hedonic motivation, social influence, facilitating conditions, and habits concerning the behavioral intention to engage in family takaful in Malaysia. Additionally, the study examines the inverse relationship between behavioral intention and trust. A total of 389 respondents were surveyed using a convenience sampling technique and quantitative methods. Hypothesis testing employed Partial Least Squares Structural Equation Modeling (PLS-SEM) to assess the relationships between variables. The findings indicate that Muslim behavioral intention to participate in family takaful in Malaysia is significantly influenced by performance expectancy, effort expectancy, facilitating conditions, hedonic motivation, and price value. Moreover, the association between family takaful participation and behavioral intention is mediated by trust. Trust influences the behavioral intention to participate in family takaful. However, habit and social influence do not significantly affect the behavioral intention to engage in family takaful in Malaysia. This study introduces an extended UTAUT2 model, untested in the context of family takaful, contributing to Islamic financial product marketing and consumer behavior.