Shory Group, a burgeoning InsurTech entity from the United Arab Emirates, has secured regulatory approval from the Saudi Insurance Authority (IA) to commence operations in Saudi Arabia.
The company’s entry into the Kingdom signifies a significant step in its broader expansion strategy. Shory’s entry into Saudi Arabia comes after the newly established insurtech framework in the Kingdom was introduced in mid-2023 to support innovation, consumer protection and data privacy in the insurance sector.
Furthermore, the approval aligns with Vision 2030 and supports the modernisation of the Kingdom’s insurance sector through AI-driven solutions.
Abdulelah Alghofaili, Co-Founder and CEO, Shory Group, said, “Saudi Arabia’s insurance sector is undergoing a remarkable transformation, and we’re proud to be part of that journey. Our mission is to deliver AI-driven insurance solutions that are not only innovative, but also tailored to the evolving needs of consumers and businesses in the Kingdom.
Shory Group, established in 2021 by Tameeni co-founders, has positioned itself as a leader among regional InsurTech firms. A major part of Shory’s plan involves implementing cutting-edge, AI-powered solutions aimed at enhancing consumer experiences. Shory is a First.tech company and one of the fastest growing insurtech firms in the region. It is committed to transforming the way people access and manage insurance through technology.
