Bader Rashid bin Habjar, general manager of “Essdaar Cooperative Insurance Agency”, a company licensed by the Saudi Monetary Agency as an insurance agent since 2009, I work in the field of insurance since 2004, and I hold a high diploma in the field of insurance, I also have a certificate of practicing the profession by the Arab Monetary Agency Saudi, our primary mission is to help clients choose insurance products appropriate to their needs.

Give us a background on the insurance agency, its role and legal relationship with insurance companies and insurers?

The Arab Monetary Agency has worked in its efforts to manage the relationship between the insured and the insurance companies to regulate the insurance sector, which is a modern market in the Kingdom where clients may miss some notes and miss some information, so the role of the mediator who preserves the interests of the customer and the insurance company must also be played, this role in which the insurance agent Or the insurance broker, we specialize in selling cooperative insurance products, and we ensure that the customer has sufficient information about the products, and that he takes the best product at an affordable price.

For insurance companies, if all the information is available, there is no problem, but concealing the information causes many problems, and our role is to explain the insurance documents, the relationship between the insured and the insurance company, how is the insurance process done in any case compensation is made in the future.

What services does ”Essdaar” provide and what is your role in advancing the insurance industry and the company’s expansion plans and programs in the future?

We have major divisions in sales, so Essdaar provides sales for auto insurance, occupational errors, in addition to business and corporate insurance, property insurance, medical insurance for company employees, self-employed people, and contracting.

We started with one branch in the year 2009 AD, and now we have 5 branches in Riyadh,  and we look forward to the future with a vision drawn from the 2030 vision of the Kingdom, because we believe that the insurance sector affects the domestic product better, in the year 2015 AD The impact of insurance was “1,6”, and we expect that the insurance will affect the GDP by 2% by the end of the National Transformation Program 2020, bearing in mind that the insurance sector is in a qualitative expansion, which will affect the market share of sales and the addition of new products in the future.

How do you view the trend of entrepreneurs in the insurance sector in recent times and what are the signs of success in this field? And how much insurance protects them from risks?

The direction of the Economic Council in increasing business leaders in the Kingdom, and the role of insurance in protecting their investments comes from insurance for property, transported goods and equipment, but for the insurance sector, it is very promising for business leaders, only needs to have full knowledge of insurance and the types of products, conditions and requirements, and if he is a man Business knows all these things, as its beginning will be strong in this field.

Every entrepreneur has a success story. What is Essdaar a success story?

In 2016, we obtained the highest rating of “A” as an insurance agency, based on the results of our work as sales volume and document management, and as measured by the professionalism of the company’s employees in the insurance field.

What are the most prominent challenges facing the insurance agency sector, and what are the local and international factors that affect the march of this sector?

The insurance agents sector is affected by all sectors in the labor market. If any change occurs in the volume of business in the market, it affects the workload of the insurance sector. For example, the decrease in car sales directly affects the volume of vehicle insurance, and the change of the work system for residents, it is certain that it affects insurance Medical, the lack of business during the recession that occurred in the year 2016 AD affected the process of transporting goods and exports, which in turn affects the insurance sector, but this sector remains easy to recover and responsive to growth, so these are effects for any insurance agent,

In the coming days, we expect the growth of the industrial and service sectors, which will have an impact on the insurance sector in general.

To what extent do insurance companies adhere to international quality standards?

Any insurance company is keen to apply quality standards by providing a distinguished service to customers, and we have a sales department issuing company that provides information to the customer, to purchase insurance products and all the information in the task when submitting the claim, to pay attention to an audit of the insurance operations that have taken place, and to answer all questions related to the possibility of accepting insurance Or reject it.

Those standards are binding on the monetary agency and insurance companies of the insurance agency, and we have noticed in the last period the extent to which the legislative bodies (Monetary Agency – Health Insurance Council) are keen to review all the data.