Saudi Arabia – Insurers ready to implement Saudization
Monday, 07 10 2017, Category: Insurance and Reinsurance, Country: Saudi Arabia
Insurance companies are ready to start implementing the 100% Saudization of the motor claims departments and customer service departments according to the decision of the Saudi Arabian Monetary Authority and they expect overall Saudization of the insurance sector to reach 65% by year-end 2017.
Moreover, the spokesperson of insurance companies Mr. Adel Issa confirmed that insurance and reinsurance companies have been able to achieve Saudization in many technical and leadership positions at all stages in line with the strategy of the Saudi Arabian Monetary Authority and Vision 2030 to develop the Saudi insurance sector through national talent, indicating that the compliance of insurers with this decision will help develop the sector and will contribute to reviving commercial activity and strengthen trust. The increase in the number of insurance professionals will encourage the activities of insurers and will add new fields and products.
Source: Al Hayat