The Insurance Authority has signed a memorandum of understanding (MoU) with the General Organization for Social Insurance (GOSI) to cooperate in providing insurance products and services, developing related electronic and digital transactions, exchanging expertise, and enhancing business development between the two sides, to enhance beneficiary satisfaction.
In a statement, GOSI says that the MoU was signed on the sidelines of FinTech 24 Conference that was held last week. The MoU was signed by Mr Saud Al Juhani, assistant governor for Insurance Affairs at GOSI, and Mr Naji Al Tamimi, CEO of the Insurance Authority.
The memorandum aims to formalise collaboration between GOSI and the IA by defining roles related to the exchange of expertise, conducting workshops to benefit from successful projects and experiences, and developing mechanisms to enhance insurance operations and support joint ventures between the two parties.
Both parties will explore opportunities for data exchange and integration in providing insurance products and services, developing related electronic and digital services, and exchanging official visits. They will also collaborate in awareness campaigns, conferences, seminars, workshops, and scientific forums related to insurance, and coordinate any future relevant initiatives.
These efforts are part of GOSI’s initiative to strengthen cooperation with various governmental and private entities, aiming to achieve effective integration among its systems, improve performance levels, and enhance services provided to beneficiaries, all in line with Saudi Vision 2030.
GOSI is a governmental entity that is independent financially and administratively and provides and oversees social protection and insurance coverage in Saudi Arabia.