GOSI And Insurance Authority Sign MoU To Elevate Insurance Services

The General Organization for Social Insurance (GOSI) has signed a memorandum of understanding (MoU) with the Insurance Authority (IA). This agreement aims to enhance cooperation in insurance products and services, develop electronic and digital transactions, exchange expertise, and improve business development between the two entities. The signing took place during Fintech 24, an international financial-technology conference.

Representing GOSI at the event was Saud Al Juhani, assistant governor for insurance affairs. Dr. Osama bin Abdulrahman Al Jamili, executive director of data and strategic transformation, represented the IA. The MoU aims to formalise collaboration by defining roles related to expertise exchange, conducting workshops on successful projects, and developing mechanisms to enhance insurance operations.

The agreement includes exploring opportunities for data exchange and integration in providing insurance products and services. Both parties will work on developing related electronic and digital services and exchanging official visits. They will also collaborate on awareness campaigns, conferences, seminars, workshops, and scientific forums related to insurance.

This initiative is part of GOSI’s broader effort to strengthen cooperation with various governmental and private entities. The goal is to achieve effective integration among its systems, improve performance levels, and enhance services provided to beneficiaries. These efforts align with Saudi Vision 2030.

The MoU also focuses on supporting joint ventures between GOSI and the IA. By defining roles related to expertise exchange and conducting workshops on successful projects, both parties aim to benefit from each other's experiences. This collaboration will help develop mechanisms that enhance insurance operations.

Additionally, GOSI and the IA will coordinate on any future relevant initiatives. This includes participating in awareness campaigns, conferences, seminars, workshops, and scientific forums related to insurance. Such activities aim to raise awareness about insurance products and services among beneficiaries.

These collaborative efforts are designed to improve beneficiary satisfaction by enhancing the quality of services provided by both organisations. By working together on various initiatives, GOSI and the IA aim to create a more integrated and efficient system for delivering insurance products and services.

The MoU signifies a commitment from both parties to explore opportunities for data exchange and integration in providing insurance products and services. This includes developing related electronic and digital services that can streamline processes and improve efficiency.

Overall, this partnership between GOSI and the IA represents a significant step towards achieving better integration among their systems. It aims to improve performance levels while enhancing the quality of services provided to beneficiaries in line with Saudi Vision 2030.

With inputs from SPA