Najm for Insurance coverage Providers (Najm) has launched a brand new initiative, in collaboration with Takamul Firm, to simplify the insurance coverage course of for home staff in Saudi Arabia.
The initiative is anticipated to profit particular person employers by providing a streamlined option to entry insurance coverage for home staff’ contracts by way of the ‘Musaned’ platform.
Managed by Takamul, the platform, beneath the Ministry of Human Sources and Social Improvement’s umbrella, will permit employers to check completely different insurance coverage quotes and protection choices.
The collaboration goals to automate the method of insuring home staff and facilitating their hiring.
It additionally seeks to create a course of to guard the rights of all concerned events, and canopy dangers related to the employee and the employer.
By doing so, it’s anticipated to raise the standard of insurance coverage companies and strengthen the connection between insurers and policyholders.
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Furthermore, the initiative seeks to mitigate dangers inherent in insurance coverage processes for home staff’ contracts.
It will increase the safety of contractual events’ rights by way of compensation outlined within the insurance coverage insurance policies for particular circumstances.
Najm mentioned this initiative aligns with the Saudi cupboard’s determination no. 591, mandating recruitment firms and workplaces to offer insurance coverage protection for home staff’ contracts.
The insurance coverage value is included within the contractual bills and the coverage stays legitimate for 2 years.
Najm CEO Mohammed Yahya Al-Shehri mentioned: “This new initiative launched by Najm, in collaboration with Musaned, is a complete system for insuring home employee contracts. Importantly, the initiative streamlines the method of buying insurance coverage insurance policies and finishing fee transactions with insurance coverage firms.
“Its objective is to reinforce companies throughout the home labour sector and strengthen the safety of all events’ rights within the insurance coverage contract.”
