Insurance Sector Modernization Program

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Finance & Investment

A comprehensive development of the Saudi insurance sector to include modern products and digital distribution channels.

About the Company

This program aims to develop the insurance sector by introducing new insurance products and expanding digital distribution channels.

It includes updating regulatory systems and encouraging mergers among smaller insurers to strengthen their financial capacity.

30+

licensed insurers in the market

current insurance penetration rate of GDP

2030

horizon of the national sector strategy

InsuranceInsurTechDigital transformationSector regulation

Qualification Requirements

Vendor qualification conditions

Insurance technology solutions development services
Building digital platforms for policy issuance and claims processing.
Advisory services for developing new insurance products
Designing insurance products that meet diverse market needs.
Actuarial and risk-review services
Providing actuarial expertise to accurately price new products.

How It Works

An orderly process — each step builds on the last and unlocks the next.

Assess company readiness

We review your company's current standing and identify the right entities for its activity before any next step.

Review documentation

We verify your documents are complete and valid against the latest requirements.

Prepare requirements

We prepare each entity's requirements precisely, in line with the latest approved conditions.

Submit the application

We submit the application through each target entity's official portal.

Follow up with the entity

We follow up continuously until every requirement is met.

Obtain approval

We confirm activation and continue managing and renewing your file automatically.

We help you with registration and qualification procedures for this company, from the first file to full approval.