Shory obtains IA approval to operate in Saudi Arabia

04:02 PM (Mecca time) Argaam
Logo ofShory Group

Logo of Shory Group

Shory Group, a subsidiary of First Tech, announced that it has received regulatory approval from the Saudi Insurance Authority (IA) to conduct its activities in the Kingdom.

 

The group stated in a statement that this step follows the introduction of the new regulatory framework for insurtech companies in Saudi Arabia in mid-2023, aimed at promoting innovation, protecting consumers, and safeguarding data privacy in the insurance sector.

 

Shory added that it will be able to support the Kingdom’s efforts to build a sophisticated and inclusive digital economy by offering AI-driven insurance solutions.

 

Shory, founded in 2021 by the former founders of the Tameeni platform, provides integrated digital solutions, including insurance in the travel, automotive, and healthcare sectors.

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