Strategic Positioning of Artificial Intelligence in Takaful: A SWOT Based Analysis within a Shariah Governance Framework
DOI:
https://doi.org/10.24252/lamaisyir.v13i1.66109Keywords:
Artificial Intelligence, Islamic Finance, SWOT, StrategyAbstract
Artificial Intelligence (AI) adoption in the insurance industry has gained increasing attention for its potential to enhance operational efficiency, risk assessment, and customer services. However, existing studies primarily focus on conventional insurance and technical applications, leaving the strategic readiness of takaful institutions and the implications for shari’ah governance underexplored. This study aims to examine the strategic positioning of AI in the takaful industry within a Sharīʿah governance framework. The study employs a mixed analytical approach, integrating systematic literature review, document analysis, SWOT analysis with IFAS–EFAS weighting, and the IE Matrix to assess internal and external strategic factors. The findings reveal IFAS and EFAS scores of 2.85 and 2.92, placing the industry in Cell V of the IE Matrix, indicating a stability-oriented strategy focused on consolidation and controlled innovation. AI adoption offers significant potential to enhance operational efficiency, governance transparency, and risk management, but remains constrained by infrastructure, limited AI–Shari’ah expertise, regulatory uncertainty, and ethical concerns. From a shari’ah governance perspective, stronger ethical oversight and compliance frameworks are required to ensure alignment with Islamic principles. This study contributes by integrating strategic management and maqasid al-shari’ah perspectives to support sustainable digital transformation in takaful.
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