Abu Dhabi-based InsurTech company, Shory Group, has received regulatory approval to operate in Saudi Arabia.
The subsidiary of the technology group, First.tech, stated in a press release, “This marks a significant milestone in Shory’s regional growth strategy and positions the company to become a key player in Saudi Arabia’s rapidly evolving InsurTech ecosystem.”
The approval from Saudi Arabia’s Insurance Authority allows Shory to introduce its AI-driven insurance solutions, including scalable digital insurance platforms, to one of the largest and most dynamic markets in the Middle East.
Shory’s entry into Saudi Arabia comes following the introduction of a newly established InsurTech framework in the country, launched in mid-2023. The framework is designed to foster innovation, enhance consumer protection, and ensure data privacy within the insurance sector.
Founded in 2021 by the former founders of the Tameeni platform, Shory provides integrated digital insurance solutions across the travel, automotive, and healthcare sectors.
First.tech is a subsidiary of the Abu Dhabi-listed investment company, International Holding Company (IHC).