In collaboration with “Musaned” Platform
Najm for Insurance Services announced the launch of a new initiative that enables individual employers to benefit from insurance for domestic workers contracts through the ‘Musaned’ platform, which falls under the umbrella of the Ministry of Human Resources and Social Development. Through this platform, employers can browse different price quotes and coverage options provided by insurance companies and select the offer that is most suitable for them.
The initiative results from a collaboration between Najm Company and ‘Takamul’ Company, the entity responsible for managing the Musaned platform. The main objective of this collaboration is to automate procedures for insuring domestic worker’s contracts, facilitate the processes involved in hiring domestic workers, and establish a process which protects the rights of all parties, and covers risks related to the worker and the employer.
This initiative is expected to streamline the processes involved with hiring domestic workers, enhancing the protection of all parties’ rights, elevating the quality of insurance services, and strengthening the relationship between the insurers and the policyholders.
Additionally, it aims to reduce risks associated with insurance processes for domestic worker’s contracts, increase the protection of contractual parties’ rights, and cover risks related to the worker and the employer through compensation stipulated in the insurance policy for specific cases.
Mr. Mohammed Yahya Al-Shehri, the CEO of Najm, stated that Najm continues to achieve its strategic goals related to diversifying its products, and launching qualitative initiatives in collaboration with its partners. These initiatives target diverse society groups, and aim to achieve socio-economic security and sustainability, while enhancing the quality of life in alignment with Saudi Vision 2030.
“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 labor sector and strengthen the protection of all parties’ rights in the insurance contract.” He added.
It is worth noting that this initiative is based on Cabinet Decision No. (591), issued on 13/10/1442, which obliges recruitment companies and offices to provide insurance coverage for domestic workers’ contracts. The insurance cost is included in the contractual expenses between the company or office, and the employer, and the policy remains valid for two years.