• The two-day symposium focused on “Growth and Evolution” in the insurance sector.
  • SIS attracted more than 1,000 insurance specialists, local officials, international managers and executives.
  • Board Chairman Nazer said that Bupa Arabia’s participation in the SIS was part of the company’s continuous efforts to support the government’s directions aimed at developing the Saudi insurance sector.

Riyadh: Bupa Arabia for Cooperative Insurance, a leading health insurance company in the Kingdom, participated in the 6th edition of the Saudi Insurance Symposium (SIS), which was organized by the General Insurance Committee (GIC) on September 28-29 at the Four Seasons Hotel in Riyadh.

The event, which spotlighted the growth and evolution of the insurance sector, was sponsored by His Excellency Dr. Fahd Abdullah Al-Mubarak, governor of the Central Bank of Saudi Arabia.

Continuing with the success story of the previous five editions, the symposium this year was graced by the presence of more than 1,000 regional insurance experts, besides the participation of selected local and international administrators and executives.

With the insurance sector playing an indispensable role in the national economy, the two-day conference provided a timely opportunity for industry leaders to review developments in the sector and provide solutions to its most pressing challenges.

Loay Nazer, Chairman of the Board at Bupa Arabia, participated in a panel discussion on “Economic Growth and Developments in the Insurance Industry” with Dr. Khaled Al-Dhaher - Vice Governor for Supervision & Technology, SAMA, and Abdulmohsen Al-Fares, Chairman of the Board, Alinma Tokio Marine Co (ATMC). Moderated by Mr. Resini Alresini of the Saudi Central Bank, the panel shed light on the developments in the Saudi insurance industry under the ambitious Vision 2030.

During the session, Nazer stressed the importance of building Saudi national cadres in the insurance sector and training them to provide quality services and distinctive insurance products. He also said that the insurance sector has created 17,000 job opportunities in the Kingdom, estimating the Saudization rate in the sector at 77%.

Ali Sheneamer, Chief Business Development officer, Bupa Arabia, moderated a panel discussion, “InsurTech and Value Added”, with several key leaders and CEOs in the industry discussing the significance of the digital transformation currently underway in the insurance sector.  

The concluding day of the SIS symposium had Bupa Arabia CEO Tal Nazer joining in a panel discussion on “The Future of Health Insurance” with the participation of a number of insurance leaders in the sector.

The Saudi insurance industry has made tremendous progress in the field of digital transformation. Bupa Arabia pioneered digitization in insurance as one of the first companies in the sector to establish a department specifically dedicated to digital transformation in 2018. The department has been instrumental in developing a host of digital services and innovative solutions.

Moreover, Bupa Arabia launched its new "Telehealth" platform, which directly connects major healthcare providers with its members. The platform boasts several innovative features that facilitate Bupa Arabia members’ hospital journeys, enabling a seamless customer experience.

Bupa Arabia Chairman Nazer highlighted the importance of the SIS for the insurance industry, where it will spotlight the development of the sector, the future of the industry, and its contribution to the national economy.

Nazer expressed his happiness to participate in the summit, which is considered to be one of the largest insurance conferences in Saudi Arabia and the Middle East.

“Bupa Arabia’s participation at the SIS came as part of our continuous efforts to be active partners in the development and growth of the insurance industry in Saudi Arabia and to support the government’s directions aimed at developing the Saudi insurance sector,” Nazer added.

-Ends-

About Bupa Arabia:

Bupa Arabia was founded in 1997 as a joint venture between Nazer group and Bupa. It became a publically listed company in 2008 with the most successful IPO in the industry. Bupa Arabia is considered part of the Bupa Global network. The company delivers health cooperative insurance with international standards for individuals, families and the largest companies and establishments in the Kingdom. It also has a large network of care providers adding up to 1.2 million entities across 190 countries. Bupa Arabia is considered more than just a traditional health insurance company as it provides the most innovative healthcare services through its Tebtom program and insures an exceptional hospital experience through its Rahatkom program.

Bupa Arabia is characterized by a work environment that stimulates innovation and productivity– a reputation further enhanced by several awards and industry recognitions. It is also considered one of the leading companies in women enablement and attracting Saudi Arabian youth, achieving over 70% Saudization rate. For more information please visit: www.bupa.com.sa

For More Information:
Abdullah Inayat
W7Worldwide Marketing Communications Consultancy Agency
Media Relations Director
a.inayat@w7worldwide.com