Najm for Insurance Services (Najm) has launched a new initiative, in collaboration with Takamul Company, to simplify the insurance process for domestic workers in Saudi Arabia.
The initiative is expected to benefit individual employers by offering a streamlined way to access insurance for domestic workers’ contracts through the ‘Musaned’ platform.
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Managed by Takamul, the platform, under the Ministry of Human Resources and Social Development’s umbrella, will allow employers to compare different insurance quotes and coverage options.
The collaboration aims to automate the process of insuring domestic workers and facilitating their hiring.
It also seeks to create a process to protect the rights of all involved parties, and cover risks associated with the worker and the employer.
By doing so, it is expected to elevate the quality of insurance services and strengthen the relationship between insurers and policyholders.
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By GlobalDataMoreover, the initiative seeks to mitigate risks inherent in insurance processes for domestic workers’ contracts.
It increases the protection of contractual parties’ rights through compensation outlined in the insurance policies for specific cases.
Najm said this initiative aligns with the Saudi cabinet’s decision no. 591, mandating recruitment companies and offices to provide insurance coverage for domestic workers’ contracts.
The insurance cost is included in the contractual expenses and the policy remains valid for two years.
Najm CEO Mohammed Yahya Al-Shehri said: “This new initiative introduced by Najm, in collaboration with Musaned, is a comprehensive system for insuring domestic worker contracts. Importantly, the initiative streamlines the process of purchasing insurance policies and completing payment transactions with insurance companies.
“Its goal is to enhance services within the domestic labour sector and strengthen the protection of all parties’ rights in the insurance contract.”
