- Shory Group Announces Receiving Regulatory Approval from the Saudi Insurance Authority to Begin Operations
- The License Enables Shory to Support the Growth of AI-Powered InsurTech Solutions
Shory Group, a subsidiary of First Tech, has received regulatory approval from the Saudi Insurance Authority to operate in the insurance sector within the Kingdom of Saudi Arabia.
Shory specializes in insurance services, and the regulatory approval supports its expansion plans and strengthens its position within the InsurTech sector in both the Saudi market and the broader Middle East region.
The company relies on AI-powered insurance technologies to enhance and deliver its services.
Two years ago, Saudi Arabia introduced a regulatory framework specifically designed for InsurTech companies, aiming to support innovation, protect consumers, and safeguard data privacy within the insurance sector.
This initiative aligns with Saudi Vision 2030, which focuses on developing financial services, fostering innovation, and increasing the private sector’s contribution to the national economy.
Abdullah Al-Ghofaili, Co-Founder and CEO of Shory Group, stated that the company aims to deliver innovative insurance solutions powered by artificial intelligence to meet the needs of individuals and businesses through an integrated digital platform that ensures a seamless and fast user experience aligned with the highest industry standards.
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