The Necessity of Paying Attention to the Insurance process in terms of Compatibility with Islamic Teachings with Emphasis on Life Insurance in Iran's insurance industry (Grounded Theory Approach)

In the modern era, providing security insurance services in the form of coverage against insurable risks to the Muslims in general and in the Islamic societies in particular is important.The purpose of this research is to focus on the insurance process from the point of view of compatibility with Islamic teachings, with an emphasis on the life insurance structure.Thus, this piece primarily aims to find out whether it is possible for us to design a model in terms of process and development through implementation of which the country would materialize and achieve the underwriting process consistent with the Shari’a law, (life insurance). As this study is a mixed one, in the qualitative part, the researcher employed library research and documentary analysis and conducted open-ended, semi-structured interviews with 10 experts and analyzed their contents, thereby developing the initial research model. In order to identify effective findings for designing the model aspects, the point of saturation and until achievement of the desired model. In order to carry out this study, the researcher employed the Grounded Theory approach in qualitative section to explicate the conceptual model. Then, in the quantitative part, the correlation between variables was identified and the ultimate model was put forward and verified by means of statistical testing. Finally, proposed model was developed and depicted in 6 dimensions as follows: identifying the status quo, requirements, determining strategies and policies, identifying the opportunities, developing sector applications, and explicating the status quo, i.e. achieving the Islamic insurance consistent with the Islamic teachings