Saudi Arabia’s General Organization for Social Insurance (GOSI) signed on Wednesday a memorandum of understanding (MoU) with the Insurance Authority (IA) to cooperate in providing insurance products and services.
The MoU also covers developing related electronic and digital transactions, exchanging expertise, and boosting business development between GOSI and the IA.
The MoU was signed on the sidelines of Fintech 24 conference in Riyadh. Representing GOSI was Saud Al Juhani, assistant governor for insurance affairs, while Dr. Osama bin Abdulrahman Al Jamili, executive director of data and strategic transformation, represented the IA.
The memorandum aims to formalize 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 boost 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 on any future relevant initiatives.
These efforts are part of GOSI’s initiative to strengthen cooperation with various government 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.
