Abu Dhabi-based InsurTech firm Shory Group has secured regulatory approval to commence operations in Saudi Arabia, marking a significant milestone in the company’s regional expansion strategy.
The subsidiary of the technology investment group, First.tech, announced in a press release:
“This achievement positions Shory as a prominent player in Saudi Arabia’s rapidly evolving InsurTech ecosystem, reflecting our commitment to delivering innovative and AI-driven insurance solutions across the region.”
The approval from Saudi Arabia’s Insurance Authority enables Shory to launch its suite of AI-powered insurance offerings, including fully scalable digital insurance platforms. The move provides the company access to one of the Middle East’s largest and most dynamic insurance markets, characterised by growing consumer demand for digital-first solutions.
Shory’s entry into the Kingdom coincides with the implementation of a newly established InsurTech regulatory framework, introduced in mid-2023. The framework aims to stimulate innovation, strengthen consumer protection, and uphold stringent data privacy standards within the insurance sector, creating a favourable environment for tech-enabled insurers.
Founded in 2021 by the former founders of the Tameeni platform, Shory specialises in providing integrated digital insurance solutions across multiple sectors, including travel, automotive, and healthcare. Its platforms leverage artificial intelligence to automate claims processing, enhance underwriting precision, and deliver personalised insurance experiences.
The company operates under First.tech, a subsidiary of the Abu Dhabi-listed investment group International Holding Company (IHC), which manages a diversified portfolio spanning technology, healthcare, and financial services.
Key Details: Shory Group Expansion
| Category | Details |
|---|---|
| Company | Shory Group |
| Parent Group | First.tech (subsidiary of IHC) |
| Headquarters | Abu Dhabi, United Arab Emirates |
| Saudi Arabia Regulatory Body | Insurance Authority |
| Market Entry | Approved to operate in Saudi Arabia |
| Founding Year | 2021 |
| Founders | Former founders of Tameeni platform |
| Focus Sectors | Travel, Automotive, Healthcare |
| Technology | AI-driven insurance platforms, scalable digital solutions |
| Regulatory Context | Saudi InsurTech framework launched mid-2023; focuses on innovation, consumer protection, and data privacy |
Shory Group’s expansion into Saudi Arabia represents a strategic step in consolidating its presence across the Gulf Cooperation Council (GCC) region. By combining technological innovation with regulatory compliance, the company aims to redefine digital insurance delivery and foster broader adoption of InsurTech solutions in the Kingdom.