improvements in service quality and responsible conduct by market players and their intermediaries. the customer satisfaction survey 2022 for the takaful and insurance industry revealed that while 74 % of customers provided positive feedback on their experience, 23 % expressed concerns, particularly on inefficiencies in claims processes and poor response from industry players and agents when reached for assistance. 3 in malaysia, 2 / 4 bis - central bankers'speeches the motor, medical and health segments have seen progress on this front through the roll out of digital roadside assistance solutions and the work to establish a central medical claims data platform, respectively. malaysia's experience in these two sectors illustrates that there is much to benefit from leveraging on technology. with technology, not only will the end - to - end experience of consumers – from securing access to takaful cover to the claims and settlement process – be elevated, but digital takaful solutions can go a long way towards increasing consumer trust on the value of takaful protection, enhancing product affordability through better risk pricing and expediting purchasing and claims experiences. advancing impact reporting the vbit value proposition through exemplary industry practice, is best showcased through meaningful disclosure, and this brings me to my next point, our aspirations for the maqasid shariah scorecard ( mss ), that will be launched today. i am encouraged to witness the industry's efforts in developing the mss, which i believe supports the bank's call for better impact creation through meaningful disclosures. while the scorecard is a measurement tool to demonstrate and validate vbit based on maqasid al - shariah, it ultimately seeks to drive positive change in behaviour and measure broader outcomes to the community served by the takaful industry. globally, impact - based reporting has grown in importance as more stakeholders demand for greater transparency in assessing performance beyond financial reporting. impact reporting is most commonly demonstrated in the climate and sustainability space, where such reporting serves to demonstrate how companies and financial institutions support the broader esg goals and sdg agenda. so given its pivotal role in the operationalisation of vbit, it is crucial for the mss to be well executed with clear alignment to operators'business plans and operations. the successful implementation of mss will facilitate ambitions for it to play a larger and deeper role, with the goal of elevating mss as the benchmark reference for impact reporting, domestically and globally. as the next step, we urge the industry to

consider what needs to be done for the mss to be effectively implemented, commencing with strategies to ensure firm understanding of its objectives and measurement methodology by each industry player. ladies and gentlemen, before i conclude, may i remind ourselves that in implementing vbit and mss, the issues of skills and professionalism must be addressed. it is, therefore, critical for the industry to diligently build up expertise, thereby unlocking the full potential of its contribution towards amplifying social and economic impact. we commend efforts such as the vbit training module launched today and hope that mta and members continue to exert energy to address talent gaps towards building a highly capable and adaptable workforce. i trust the industry will maintain the momentum to continue accelerating the development of the takaful and retakaful industry through vbit. may we all be guided 3 / 4 bis - central bankers'speeches by surah an - najm, verses 39 and 40, which mean : " and that man shall have nothing but what he strives for, and that his effort will soon be seen. " with that, i wish you a successful conference ahead. thank you. 1 the interim report for takaful fsb programme 2023, malaysian takaful association 2 flood risk management : leveraging finance for business resilience in malaysia ( worldbank. org ) - world bank and bank negara report, march 2024 3 malaysia insurance & takaful customer satisfaction survey 2022 - consumer marketing insights, nielseniq ( malaysia ) sdn. bhd., malaysian takaful association, life insurance association of malaysia and persatuan insurans am malaysia 4 / 4 bis - central bankers'speeches