Monday, February 18, 2008
Insurance Enlightenment in Saudi Arabia
Insurance is flourishing in Saudi Arabia with a chance of education and professional development. Various facilities are available on-line as well as traditional system for acquiring professional qualifications.
Insurance Enlightenment Q&A
I am a graduate, with 6 years of experience in an Office Equipment Company on Sales side. I have been recruited by a General Insurance Company. I do not have any previous experience in the Insurance field. I have been given a choice of working either in Marketing Department or in Underwriting Department, I would like to know which department is better for me?
Insurance Industry offers a wide variety of job options. There are accountants, underwriters, engineers, doctors, veterinarians, auditors, risk experts, claims handlers, surveyors, actuaries, trainers, sales and marketing personnel etc. For a new entrant and a learner any department is suitable as this will be the entry level job and there will be a great deal to learn in any of the departments. You have no exposure in the Insurance Industry but you have experience of dealing with the customers in your previous job. Considering your background I would suggest you to choose Marketing Department. In this you will be a contact point for the customers, this will give you more drilling and will not be a big cultural shock for you. This job will also give you an edge over securing the customer and in the process you will be able to learn about the working of different departments and their technicalities.
Insurance Industry offers a wide variety of job options. There are accountants, underwriters, engineers, doctors, veterinarians, auditors, risk experts, claims handlers, surveyors, actuaries, trainers, sales and marketing personnel etc. For a new entrant and a learner any department is suitable as this will be the entry level job and there will be a great deal to learn in any of the departments. You have no exposure in the Insurance Industry but you have experience of dealing with the customers in your previous job. Considering your background I would suggest you to choose Marketing Department. In this you will be a contact point for the customers, this will give you more drilling and will not be a big cultural shock for you. This job will also give you an edge over securing the customer and in the process you will be able to learn about the working of different departments and their technicalities.
Insurance Enlightenment
Insurance is nothing but to make sure that we are protected against Financial Losses.
Saudi Arabia is a booming market and Insurance is booming tremendously. Medical insurance is compulsory for certain group and expected to be compulsory for all soon. Third Party Motor insurance is compulsory for all. Medical Malpractice and Property is expected to be compulsory. Many large organisations insist on compulsory insurance for Workmen compensation insurance, Public Liability Insurance ( also known as Commercial General Liability Insurance) Motor Insurance and Contractors works insurance. Over- all there is high probability of Insurance surge in Saudi Arabia. The formation of Co-operative Council for health insurance is one of the major thrust towards improvement in health insurance. The regulatory bodies like SAMA is looking after the registration process of Insurance providers.
Saudi Arabia is a booming market and Insurance is booming tremendously. Medical insurance is compulsory for certain group and expected to be compulsory for all soon. Third Party Motor insurance is compulsory for all. Medical Malpractice and Property is expected to be compulsory. Many large organisations insist on compulsory insurance for Workmen compensation insurance, Public Liability Insurance ( also known as Commercial General Liability Insurance) Motor Insurance and Contractors works insurance. Over- all there is high probability of Insurance surge in Saudi Arabia. The formation of Co-operative Council for health insurance is one of the major thrust towards improvement in health insurance. The regulatory bodies like SAMA is looking after the registration process of Insurance providers.
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