RIYADH — Saudi Arabia is exploring the prospect of scrapping insurance approvals for health insurance services. Eng. Naji Al-Tamimi, CEO of the Saudi Insurance Authority, revealed that the authority, along with relevant entities and specialists, is carrying out a study with regard to scrapping insurance approvals for health insurance services. "This study aims to remove beneficiaries from the loop that links hospitals and healthcare providers to insurance companies operating in the Kingdom, causing harm to beneficiaries due to delayed approvals," Al-Riyadh newspaper reported quoting him as saying. Al-Tamimi said that there is an apprehension about the excess and waste in healthcare costs, which would negatively impact insurance prices, in the event of scrapping of approvals. He emphasized that the authority seeks to achieve balance in this matter. "Careful study will be a helpful factor in making the appropriate decision, which will undoubtedly be in the best interest of the beneficiary," he said. Al-Tamimi revealed that the authority had received more than 400,000 complaints against insurance companies during the year 2024. "The complaint closure rate increased to over 99 percent, with a satisfaction rate exceeding 95 percent," he said. Al-Tamimi said that the authority received more than 2,000 applications for licensing and approval during the past period, while the number of companies licensed in insurance, brokerage, consulting, and other insurance activities reached 220. Moreover, licenses were granted to seven new insurance technology companies, as well as preliminary licenses to six foreign companies and final licenses to five foreign companies to practice insurance activities. The authority chief indicated that performance indicators related to insurance companies will be published in the coming period, starting with publishing the percentage of complaints against the number of individual beneficiaries, as well as health and vehicle insurance policies for each company. "This is aimed at motivating companies to improve the quality of services and achieve customer satisfaction," he added.
