Riyadh: The Regional Social Security Forum for Asia and the Pacific 2024 began today in Riyadh, bringing together several heads of social-security agencies from Asian and Pacific countries and a select group of experts and decision-makers in the insurance protection field worldwide. The forum, hosted by the General Organization for Social Insurance (GOSI), runs from December 3 to 5 under the patronage of Minister of Finance and GOSI Chairman of the board of directors Mohammed Al-Jadaan.
According to Saudi Press Agency, the first day of the conference drew a significant number of participants from around the world. They discussed updates in the global insurance protection system, explored sustainable insurance innovations and solutions, and discussed opportunities and challenges while familiarizing themselves with Saudi Arabia’s leading experience in social insurance.
In his opening remarks, Al-Jadaan highlighted the rapid social and economic transformations affecting millions worldwide. “Today, we gather in
the capital Riyadh to shape the future of insurance protection systems in our region and the world, aligned with the global economic growth trends,” he said.
The minister emphasized the necessity of collaboration to overcome obstacles that social-security systems may face. “It is evident that social-security systems, like any other systems, require continuous review and update to meet the needs of our societies, our beneficiaries, and current and future generations,” he added.
Al-Jadaan emphasized the need for effective solutions to urgent challenges facing insurance protection, expressing hope that the forum would yield unified visions and outline a roadmap for developing comprehensive and sustainable social insurance systems.
International Social Security Association (ISSA) president Mohammed Azman stated that the forum constitutes a significant milestone in enhancing regional cooperation in the field of social security. The event also provides a significant opportunity for exchanging expertise and devel
oping innovative solutions to address the challenges facing social insurance systems globally.
The first day of the forum encompassed a dialogue session titled, ‘Social transformation in the Kingdom: Implications on the social-security ecosystem,’ attended by several officials, including Vice Minister of Human Resources and Social Development for Labor Abdullah Abuthnain.
During the session, GOSI Governor Abdulaziz Hassan Alboug emphasized that social insurance is entering a new phase aimed at creating greater value for its beneficiaries in various stages of their lives. He highlighted the role of social insurance in supporting financial stability and professional growth, and promoting physical health, thereby contributing to improving the quality of life and building a future where everyone feels secure and valued. He highlighted several achievements made by GOSI with the unemployment insurance program (SANED) supporting over 400,000 employees during the COVID-19 pandemic, at a value amounting to US$2.5 bi
llion. Furthermore, around 4.7 million workers benefited from compulsory insurance documents, and about 32 million people in the Kingdom benefited from healthcare coverage.
A second dialogue session during the forum discussed the ‘changing philosophy of social-security funds amid global challenges,’ where GOSI officials showcased key insights and policies supporting the efficiency of insurance protection funds in the face of rapid global economic and social changes.
