The Saudi Arabia Insurance Authority licensed Eltizam Electronic Brokerage Company for an official launch and Wazin Electronic Insurance Brokerage Company for a pilot launch, allowing both to conduct electronic insurance brokerage activities. The licenses support technology-based insurance services, including automated processes, easier comparison of quotations and coverage, faster policy issuance and improved customer access. The authority also emphasized that customers should deal only with licensed companies.
2025-01-08Saudi Arabia Insurance Authority
Saudi Arabia Insurance Authority licenses two electronic insurance brokers for official and pilot launches
The Saudi Arabia Insurance Authority licensed Eltizam Electronic Brokerage Company for an official launch and Wazin Electronic Insurance Brokerage Company for a pilot launch. The firms will provide electronic insurance brokerage services intended to improve access, comparison and policy issuance.