01/18/2012
The Company for Cooperative Insurance (Tawuniya) has recently organized a workshop at the Marriott Hotel in Riyadh to raise public awareness of Corporate Health Insurance. The company stated that many executives and top officials of Saudi companies in the economic, business and service sectors participated in the workshop.
Experts and advisers from Milliman, one of the largest companies in the world specializing in insurance and actuarial services, presented several lectures at the workshop. They focused principally on risk management and the key components of enterprise risk management.
The Milliman’ experts presented the actuarial aspects of corporate health insurance pricing and factors that could influence renewal premiums. They also addressed best global practices in healthcare delivery as seen through the prism of the latest U.S. healthcare reform, as well as the wellness program for employees including health risk assessment programs and demonstrated how employers could provide it to their employees.
The workshop was inaugurated by the CEO of Tawuniya, Ali A. Al-Subaihin, who delivered a speech in which he addressed the importance of raising the level of insurance awareness in general and the impacts of the insurance technical awareness, in particular. He pointed out that insurance awareness in the Saudi Arabia has doubled over the last five years, following the application of new regulations.
Subaihin asserted that raising insurance awareness among various sectors of the Saudi society contributes in easing the insurance process, and strengthens the relations between the insurance companies and customers.
In addition, it helps customers better define and understand their needs, and avoid the problem of misunderstandings between both parties and thus saves a lot of time and exhausting effort in solving these differences, as they at the same time are contributing in maximizing insurance benefits.
Subaihin, further explained that the workshop is one of a series of seminars and workshops Tawuniya aims to organize in 2012, not only for medical insurance clients, but also for customers of other insurance lines of business.
He also stressed the importance of the aim of the workshop in consolidating the risk management aspects of health insurance at Saudi companies and institutions through effective mechanisms that contribute in reducing risk levels which leads to reducing insurance rates and healthcare costs.
The participants expressed their complete satisfaction with the level of scientific ideas and themes discussed at the workshop, especially that were put forth by international experts. They also expressed their hope in Tawuniya in continuing to hold such events aimed at raising the technical levelof knowledge of executives responsible for insurance and risk management in all Saudi companies and establishments.