We are pleased to present our newest publication on the insurance sector in Saudi Arabia: Future of insurance
This report presents six macro trends that we have noticed across the industry. In 2021 and beyond, the insurance industry is expected to be driven by customer experience, data and technology. As we emerge from the pandemic, insurance companies have been forced to bring digitization on top of the agenda for decision-makers as they seek new ways to do business and accelerate the pace of adopting new technology trends. Customers increasingly prefer to have contactless interaction with their insurers. hence digitally-advanced insurers will have greater advantage. Moreover, on the regulatory front, companies will be expected to enhance their resilience to business risks and remain compliant with evolving requirements in protecting policyholders and shareholders’ interest.
We have also included in this new edition in our series on the insurance industry with the outcomes of the most recent KPMG 2021 CEO Outlook Global Pulse Survey where 50 insurance CEOs across nine key markets were interviewed. They indicated that business growth resumption and business transformation priorities are on top of their agenda going forward. This also ties in with the global trends that we have noticed, and are shaping the future of the industry – also in the insurance sector of Saudi Arabia.
We hope you find this report timely and insightful. Our team looks forward to connect with you to discuss these themes and trends in greater detail.