Integrated Management System (IMS) Policy

We at Walaa Cooperative Insurance Company are aiming to become one of the leading insurer for all lines of products to all sections of the society in the Kingdom of Saudi Arabia.

We are committed to achieve and maintain excellence in Quality, Information Security, Health, Safety, and Business Continuity in supporting customers through high-quality services and competitive insurance products.

We strive to achieve our Integrated Management System (IMS) objectives, through leadership commitment, effective implementation of IMS and maintaining compliance to our business core values & policies.

We are striving to achieve this through:

Focus on Excellence

Inculcating our core corporate values in our employees and service providers.
Creating a culture of excellence & teamwork encouraging employees to work together for the benefit of the company and to provide value-added services to the clients.
Identifying areas of continuous learning and development for our employees to enhance their skills and competencies.
Ensuring performance by continually aligning our objectives to business needs.
Ensuring stakeholders’ business interest are met on priority.

Healthy & Safe Workspace

Proving a safe and healthier working environment for our employees, customers, visitors, and all stakeholders
Ensuring the safety, prevention of injury, and ill health of our customers, employees, contractors, suppliers, and all stakeholders by eliminating & reducing occupational hazards and risks.
Developing a high level of emergency preparedness through the provision of adequate equipment and training.

Information Security

Any information created, collected, processed, or distributed by the organization is an asset and committed to protecting from unauthorized disclosure, modification, or destruction.
Understanding and treating information security risks to an acceptable level as determined by information security risk management framework
Determining and establishing improvements in the information security performance of the organization through a continual application of specific objectives and targets
Enabling appropriate contribution from all employees by ensuring adequate awareness and training related to information security.

Business Continuity

Maintaining the continuity of our operations that meet and exceed the expectation of our customers, suppliers, employees, and all other stakeholders.
Ensuring business continuity objectives are met to provide essential resilience with capability of an effective response that safeguards life, facilities, equipment, vital records, other assets, and continuous performance of critical business functions.

Risk Management

Promoting a pro-active culture towards risk and opportunities management to enhance IMS excellence through hazard & risk identification, analyses, and treatment.

Compliance & Continual Improvement

Compliance with all applicable legal, contractual, and regulatory requirements and will continually improve the IMS through periodical reviews and ensure that the company employees are adequately trained and motivated to positively contribute towards the improvement of IMS effectiveness.

Environmental, Social, and Governance (ESG)

We believe that ESG is critical for our long-term sustainable success and is the foundation in delivering our commitments.

As a regulated, publicly listed company, we will ensure that we adhere at all times to the regulatory requirements, and are committed to building environmental sustainability, social responsibility, and effective corporate governance into all aspects of our business. We are committed to being fully transparent and act responsibly towards our shareholders, clients, supplier, employees, regulatory bodies, and the community in which we operate.

We are committed to operating in an environmentally responsible manner, by reducing waste, and ensure full compliance with the environmental regulations.
We are committed to our social responsibilities by participating in initiatives that gives back to the local community.
We are committed to being a socially responsible employer by ensuring the health and safety of our employees, improving our working environment, and fostering equality and diversity within the company
The Board, Board Committees, and Management will strive to improve our Governance practices on a continuous basis

For Walaa Cooperative Insurance Co.

Approved by:

Johnson Varughese

Chief Executive Officer

2020.10.19

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Integrated Management System (IMS) Policy