Shory Group, a First.tech company and a fast-growing InsurTech firm in the region, has secured regulatory approval from the Saudi Insurance Authority (IA) to commence operations in the Kingdom of Saudi Arabia.
With significant experience in the market and a track record of creating scalable digital insurance platforms, Shory is now able to offer its AI-driven insurance solutions to one of the Middle East’s largest and most active markets.
The company’s entry into Saudi Arabia follows the introduction of a new insurtech framework in mid-2023, designed to support innovation while maintaining consumer protection and data privacy in the insurance industry.
This development is in line with Saudi Arabia’s Vision 2030, which seeks to modernise financial services and encourage innovation through increased private sector engagement. By providing AI-powered insurance solutions, Shory contributes to the Kingdom’s objectives of fostering a more technologically advanced and inclusive economy.
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.
“With a platform designed to integrate seamlessly into digital ecosystems, we’re enabling fast, compliant and customer-centric insurance experiences. We’re excited to bring our technology and expertise to Saudi Arabia and contribute meaningfully to the Kingdom’s vision for a modern, inclusive financial sector.”
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