One of the biggest challenges facing Saudi Arabia’s insurance sector is the localization of technical jobs as insurance is a nascent industry that attracts few Saudi youth, said Adel Al-Issa, spokesman for insurance companies in the Kingdom.
In a report in Al-Eqtisadiah newspaper on Tuesday, Al-Issa said the number of Saudi technicians does not exceed a few dozen but he hoped their number would grow as more gain experience through various courses and workshops.
Insurance firms are racing to employ highly-qualified national cadres and are focusing on Saudizing all segments by enhancing staff skills.
Al-Issa added that the Saudi Arabian Monetary Authority (SAMA), the Kingdom’s central bank and insurance sector regulator, is planning to launch the second phase of leading jobs Saudization in the sector.
SAMA ordered insurers and free trade job providers to achieve 100 percent Saudization rates in the motor insurance claims and customer service departments no later than July 2, Argaam reported.
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