High written premiums driven by hospital exploitation of health insurance customers: Bupa CEO

Tal Nazer, CEO of Bupa Arabia for Cooperative Insurance Co.

The insurance sector is experiencing an increase in written premiums, especially the health insurance sector, due to unhealthy lifestyle, efforts to recover from COVID-19 pandemic, and hospitals’ exploitation of health insurance customers, Tal Nazer, CEO of Bupa Arabia for Cooperative Insurance Co., told Argaam.

On the sidelines of the Sixth Saudi Insurance Symposium held recently, Nazer said this is also attributed to the update of insurance policies by the Council of Health Insurance, as the new insurance policies came into effect as of October 2022.

During the last decade, the local insurance companies expanded in providing electronic services to customers, as well as developing digital solutions and artificial intelligence techniques, in order to improve customer experience and contribute to satisfying customer needs with ease and flexibility, the top executive said.

Bupa Arabia was among the first healthcare services providers that initiated the establishment of a special department to lead its digital transformation, in order to improve client services. The company invested largely in the development of digital solutions.

The number of transactions executed through Bupa Arabia application reached 22 million, while the digital adoption of payment claims and demand for digital healthcare services among clients hit 98% and 59%, respectively, he added.

The company witnessed a 20% rise year-on-year in the number of insurance policies this year, Nazer added, concluding that Bupa Arabia provides services for over three million clients.