Tawuniya: Outstanding Contribution to Social Impact KSA 2021
Founded in 1986, Saudi Arabia’s Tawuniya has built a diversified portfolio of sharia-compliant cooperative insurance products and services to best serve the needs of individuals, SMEs and corporates. It offers a range of insurance products, including medical, motor, property and causality coverage. It also offers takaful insurance, wherein members contribute money into a pool system to collectively guarantee against loss or damage in accordance with Islamic law. Tawuniya has solidified its leadership position, ranking among the top three insurers in the MENA region, by focusing on customer-centricity, organic growth and regional expansion. It aims to become the largest insurer in the MENA region by 2025. The CFI.co judging panel has followed the insurer’s progress closely and was pleased to note its continued community contributions. The company increased the ratio of Saudi employees to 84 percent in 2020, with women holding more than half of those positions. Tawuniya considers the communities where it operates as both catalysts and collaborators for sustainable development. It continued to support Saudi society in the fight against Covid, donating $266,666 (one million Saudi riyals) through the Ihsan platform, which was launched by SDAIA “Saudi Data and Artificial Intelligence Authority” to facilitate charitable giving. It has also participated in global campaigns to promote healthy lifestyles, from anti-smoking and blood donation to gender empowerment and childhood cancer. The jury presents Tawuniya, a repeat programme winner, with the 2021 award for Outstanding Contribution to Social Impact (KSA).
