MTA expects DITOs to boost takaful penetration rate to 30 pct by 2027

The Malaysian Takaful Association (MTA) expects the digital insurers and takaful operators (DITO) to boost the country’s takaful penetration rate to 30 per cent by 2027 from 18.6 per cent in 2021.

Its chief executive officer (CEO), Mohd Radzuan Mohamed, said DITO would bring significant digital transformation in both the insurance and takaful segments and eventually help the country to achieve the overall target rate of 75 per cent set by the government.

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