DELIVERING VALUE TO SOCIETY DURING PANDEMIC COVID-19 CASE STUDY OF MALAYSIANS FAMILY TAKAFUL OPERATORS by Alya Nabihah Idris, Marhanum Che Mohd Salleh

COVID-19 has been declared as a pandemic by World Health Organization since the year 2020 and has become a global issue in health and the economy. The pandemic has affected millions of people worldwide by reducing health rates and financial well-being, then also leading to mental health problems. This research aims to observe the value and of Malaysian family Takaful operators through analysis of COVID-19 coverages offered to the society. Through a case study approach, a sample of three (3) family takaful operators is selected in this study. Secondary data is collected from the takaful operators’ website and documentation as well as comparative analyses is conducted. Based on the analyses, it is found that various coverages of COVID-19 have been offered by the operators to reduce financial burden of the participants due to the pandemic. Prudential BSN Takaful Berhad (7 coverages) have delivered more value in terms of number of Covid19 coverages to their participants compared to the other operators. It is followed by Sun Life Malaysia Takaful Berhad with 6 coverages and Syarikat Takaful Malaysia Keluarga Berhad (STMKB) with 2 coverages. The coverages varied from COVID-19 diagnosis test, hospitalization until COVID-19 vaccination side effects. This study is significant to highlight the commitment and contribution of the Malaysian Takaful operators during pandemic Covid19. The comparison provided would help the industry practitioners to remain competitive in the industry and the same time tackle the needs of society through product innovation.