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The Saudi Monetary Agency (SAMA) has called insurance agents to know their rights with insurance companies, which are guaranteed by regulations, regulations and instructions under the supervision and control from SAMA.
Sama explained that the rights that insurance companies must adhere to the customer are as follows:
– The transaction is credible: Insurance companies must take care of their credibility and fulfill their financial and legal obligations in accordance with regulations, especially for low-income people, seniors and people with special needs of both sexes.
– Transparency and clarityDisclose all rights of each party to the insurance relationship.
– Educate customers: Introduce initiatives to educate current and future customers about the culture of insurance, so that they can know the risks and make the right decisions.
– Professional in the trade: Employees of insurance companies must treat their clients professionally, in proportion to their insurance interests.
– No discrimination: Provide customer service regardless of gender, color, gender or religion.
– Fraud protection: Insurers must apply minimum security standards to monitor insurance transactions and protect against fraud.
– Keep customer information confidential: Limit the use of financial, personal and insurance information to the client in the professional field only, without disclosing it to any party without prior authorization from SAMA.
– Complaints handling: Develop appropriate mechanisms to allow clients to submit complaints, allowing the company to track and handle complaints.
– Increase the degree of competition: Provide the highest quality services at the lowest price without prejudice to regulations and regulations governing the insurance market.
– Commitment of service providers on behalf of insurance companies: The company must ensure that the contracting parties undertake to provide services in a way that ensures the interests of the customers.
– Conflicts of interestDetermine the necessary procedures in the event of a conflict of interest in writing, ensuring that all clients are treated fairly, and inform them of any potential conflict of interest between the company and any other entity.
– Adequate resources: Employ trained managers and provide sufficient operational financial resources to carry out their work effectively and serve their clients in all regions.
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