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Najm for Insurance coverage Companies (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 strategy to entry insurance coverage for home staff’ contracts via the ‘Musaned’ platform.
Managed by Takamul, the platform, below the Ministry of Human Sources and Social Improvement’s umbrella, will enable employers to match totally 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 via compensation outlined within the insurance coverage insurance policies for particular instances.
Najm mentioned this initiative aligns with the Saudi cupboard’s choice no. 591, mandating recruitment firms and workplaces to supply insurance coverage protection for home staff’ contracts.
The insurance coverage price 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 aim is to reinforce companies throughout the home labour sector and strengthen the safety of all events’ rights within the insurance coverage contract.”
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