A new initiative to support the national economy
Riyadh, June 6, 2017
Tawuniya Insurance Company launched “360° Integrated Insurance Program for Small and Medium Enterprises (SME)”. The program will provide full insurance solutions to business facilities’ staff. This step is part of the cooperative strategy to support the private sector and activate the role of the national economy as well as the National Transformation Program 2020.
Tawuniya also launched an extensive one month social media campaign titled "Focus on your business and do not be worried". The campaign will include various massages introducing the new program which enhances the concept of planning in managing projects with their potential risks and avoid sudden losses.
Majed Ahmed Al-Bahiti, Tawuniya's Marketing GM: said “Our 360° program will allow owners of SMEs to meet their needs of medical, vehicle and property insurance through one company. So, it will be easier for them to manage their insurance accounts without additional financial or administrative burdens"
"Enhancing the risk management culture among SME officials is an important issue to develop strategies, design business approaches and achieve objectives of the private sector which contributes 33% of Saudi Arabia's GDP”, he added.
Al-Bahiti said, that the new program will introduce 30 years of experience to the SME sector and provide technical risk advice to its officials as Tawuniya understands the nature of the SME sector's work.
Al-Bahiti added: “360° Program will offer 3 basic covers: medical insurance, which provides various categories of health care with the highest medical coverage of SR1,000,000 per person a year, through 2000 hospitals and medical centers inside and outside the Kingdom."
He said: "360° Program also offers business insurance that provides suitable insurance packages for various business activities including traders, manufacturers, contractors and hospitality."
“The new program will also provide vehicle insurance to SME owners with liability coverage, up to SR10 million. The service include natural hazards such as floods caused by rains as well as premium coverage of goods while transporting by vehicles and additional expansions to increase the level of insurance protection,” he added.
Al-Bahiti expressed his pride that Tawuniya’s active role in supporting the economic development of the Kingdom, as well as its role as a key partner in developing the SME sector to be a more attractive environment for entrepreneurial work.
© Press Release 2017