The Council of Cooperative Health Insurance has signed a cooperation memorandum with the General Authority for Competition, according to which both parties agreed to arrange the areas of cooperation between them in order to achieve common strategic goals, promote the climate of fair competition, and protect the private health insurance market. Dr. Shabbab bin Saad Al-Ghamdi, the Council Secretary General, said: "The memorandum came in line with the Council's vision to enhance the quality of health services by raising the efficiency of private health insurance. Moreover, It supports the Council's responsibility of overseeing the implementation of the system, controlling the qualified insurance companies and accredited service providers...", indicating that the areas of cooperation with the General Authority for Competition have now become more extensive in a way that serves and supports the goals and aspirations of both parties as well as their contribution to achieving the targeted accomplishments, according to the laws governing each party's work and scope of supervision, by enabling the flexible communication between the two parties in a manner that achieves positive effects on the implementation of the tasks assigned to each of them.
“The goals of the memorandum include raising the level of constructive awareness amongst government institutions, the investor and the consumer in the medical insurance sector and related markets by developing legislation, laws, regulations and procedural rules; identifying procedures for coordination and cooperation between the two parties by integration and joint coordination in the field of applying regulatory texts and rules that enhance the climate of competition in the sector and raise the level of well-being of health insurance beneficiaries; adopting programs to establish the culture of fair competition and familiarizing the society and the business sector with the rules of competition and consumer protection; and cooperating with relevant authorities to develop solutions to address them". Al-Ghamdi added. He also emphasized that these efforts are all directed towards achieving the goals of the 2030 vision and the National Transformation Programs (NTPs) 2020 related to the responsibilities and tasks assigned to both parties, as well as the launch of bilateral initiatives to support economic development and promote high transparency principles in exchanging data and information clearly and easily with stakeholders and beneficiaries.
