Supervisory Jobs Are Being ‘kuwaitized’ By The Iru

In order to implement the state's strategy to localize the insurance sector and increase the participation of national workers in developing market competitiveness, creating an attractive work environment for Kuwaitis, and qualifying them in line with the needs of the labor market in the insurance sector, the Insurance Regulatory Unit is working to compel insurance companies to Kuwaitize their supervisory functions.

According to Al-Anba, the "insurance regulation" tends to link with the involved governmental and private institutions, such as the Public Authority for Manpower and the Public Institution for Social Security (PIFSS), to put the decision into effect before the end of the year.

According to the sources, the IRU's decision to Kuwaitis supervisory posts in the insurance sector considers both the quantitative and qualitative aspects of Kuwaitization, qualifying nationals and educating them scientifically and technically at all levels.

According to the sources, the IRU is the new Kuwaitization strategy, which is based on a new principle to push citizens toward advanced job positions in the insurance sector, as well as to increase Kuwaitization through the participation of national workers at various job levels in the labor market, in accordance with an integrated and clear vision that supports Kuwait's Vision 2035 principles.

According to the sources, the insurance unit aims to develop a comprehensive and long-term Kuwaitization strategy that not only aims to increase the number of citizens but also targets graduates with specialization and experience to actively participate in research and leadership tracks in Kuwait's insurance industry.

According to sources, this decision is consistent with previous decisions in the insurance sector, such as requiring companies and insurance brokers to appoint a Kuwaiti compliance observer as part of qualifying national cadres to fill this position through a package of initiatives and programs implemented with the start of the unit's work, as an implementation plan was developed in collaboration with the authorities.

The competent authority in order to broaden the sphere of insurance activity, emphasizing that Kuwaitization is at the top of the unit's priority list in order to lead the sector's development.

The local insurance sector has begun to reap the benefits of positive change under the umbrella of the Insurance Regulatory Unit and its role as a supervisory regulator, which is evident in the number of companies and the quality of insurance services and products, all the way to highlighting transparency in periodic financial and statistical reports, which created a good control environment that would sector correction, according to the sources.

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