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Takaful insurers must avoid underpricing

April 17, 2014 - 6:00am

Takaful operators must be very prudent on pricing and should avoid "falling into the trap of under-pricing to gain market share," Bassel Hindawi, former Insurance Commissioner of Jordan told Islamic Business & Finance.

Industry experts said takaful operators must maximize its unique selling points to attain new customers rather than seek a share of the existing conventional insurance market, CPI Financial reported. Global takaful premiums are expected to reach $20 billion by 2017, the news report said.

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