The Saudi Insurance Symposium wants to be transformative

Saudi Arabia – The sixth Saudi Insurance Symposium will be a transformative symposium, a groundbreaking engagement that lays the foundation for creating new and enduring opportunities.

The symposium, which is expected to attract more than 1,000 regional insurance professionals as well as a selection of local and international administrators and executives, builds on the success of the previous five editions and will be held on September 28-29, 2022 at the Saudi General Insurance Committee it has announced.

It will be the largest gathering of insurance professionals, experts and companies from Saudi Arabia, the Gulf States and the Middle East and under the patronage of Dr. Fahd bin Abdullah Al-Mubarak, Governor of the Central Bank of Saudi Arabia.

It is to be held at the Four Seasons Hotel in Riyadh and will focus on the theme of “growth and evolution”.

Largest Insurance Congress

Established in 2011 by the Saudi General Insurance Committee, the Saudi Insurance Symposium is one of the largest insurance conferences in the Middle East. The event was created to highlight the role the insurance sector plays in the national economy and to provide a timely opportunity for industry leaders to review developments in the sector and offer solutions to its most pressing challenges.

This year the event will cover a wide range of topics and will cover topics and topics such as “Economic growth and developments in the insurance industry”, “InsurTech and value creation”, “The development of the KSA reinsurance market”, “The future of health insurance” and “The future of protection and savings insurance”.

Over the course of the two-day event, questions about the role of support service companies will be discussed in addition to the impact of compulsory insurance on the future of the Saudi economy.

Importance of the insurance industry

The launch of the sixth Saudi Insurance Symposium underscores the Saudi insurance industry’s commitment to achieving the goals of the Kingdom’s Vision 2030. It reaffirms the importance of the insurance sector in realizing the Kingdom’s potential and is consistent with recent economic reforms and developments that have transformed the national economy.

Adel Al-Eisa, Media Spokesperson for Saudi Insurance Industry, said: “This event provides us with a unique opportunity and platform to explore how we – as an industry – can contribute to the Kingdom’s growth and progress. It brings together some of the brightest minds and the most ambitious companies to chart a path to a brighter future by highlighting our experiences, detailing our learnings and addressing our challenges. Specifically, it allows us to show how we’ve worked together, to overcome the hurdles presented by Covid-19 At the same time, we highlight the technological advances we have made over the past few months and years.”

advocates of innovation

He continues: “In a very short time, we have made a name for ourselves as a driver of innovation and have developed groundbreaking new, state-of-the-art offerings, for example with the digitization of insurance services and products. Today we recognize that the most important challenge facing our industry is affecting the younger generation of consumers; namely, attracting millennials by creating insurance products that meet their needs.

“Another challenge is the small number of partnerships between insurers and emerging technology companies required to lead the insurance product market through innovation. The symposium will provide us with a favorable environment to address these issues constructively.”

He added: “Likewise, we know that by bringing together the private and public sectors, we will be well positioned to strengthen the insurance industry and strengthen the Saudi economy.” This is also an important matter that we want to discuss.”

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