A STUDY OF CURRENT CONDITIONS, PROBLEMS AND FACTORS RELATED TO ENHANCING INSURANCE AGENT COMPETENCIES IN THE ISLAMIC LIFE INSURANCE (TAKAFUL) BUSINESS IN THAILAND

Abstract

This qualitative study aimed to: 1) Examine the conditions and problems of competency management among insurance agents; 2) Investigate factors related to competency enhancement, including human resource management and development, motivation, agent competencies, and the external environment; and 3) Propose management guidelines for enhancing the competencies of insurance agents in the Islamic life insurance (Takaful) business in Thailand. Seventeen key informants were purposively selected. Data were collected through semi-structured in-depth interviews and analyzed using content analysis. The findings revealed that: 1) Competency management still faced limitations in agents’ knowledge, experience, understanding of Takaful and Islamic principles, and their tendency to focus more on sales than financial advisory roles; 2) Four key factors were associated with competency enhancement: human resource management and development, intrinsic and extrinsic motivation, agent competencies in knowledge, skills, abilities, and personal characteristics, and the external environment based on the PESTEL framework; and 3) Competency enhancement should be integrated at three levels. Agents should continuously develop professional knowledge, skills, abilities, and ethics; organizations should provide career-long development, knowledge management, mentoring, coaching, competency assessment, and appropriate motivation; and government and relevant agencies should promote Takaful knowledge, professional standards, specialized training, and appropriate regulations. These approaches can enhance professionalism, strengthen consumer confidence, and support the sustainable development of the Takaful business in Thailand.

Keywords: Human Resource Management and Development, Competency, Insurance Agents, Takaful Life Insurance