Insurance - SAMA launches a resolution center to handle insurance complaints

During the inauguration of the Saudi Insurance Symposium, the president of the insurance supervisory authority SAMA has announced the establishment of a resolution center dealing with insurance complaints.

The value of this platform dedicated to insurance complaints of motor vehicles is estimated to less than 50 000 SAR. The SAMA has recorded an average of 30 000 complaints related to the insurance sector during the year 2018.

With this initiative, the insurance company will carry on its cleanup policy targeting the market and continue to achieve favorable technical results. Currently, the company records 1.5% of the Kingdom’s GDP and employs more than 11.000 people. It has recorded a significant increase of turnover which went from SR5 billion to around SR36 billion over few years.

In Saudi Arabia, vehicle and health insurance policies comprise 85% of the overall insurance policies.

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