Saudi insurance firms have started to prepare new claims centers that will be allocated for women. This is taking place at the time when the Kingdom is getting ready to implement the resolution allowing women to drive, which will take effect at the end of June. The decision to allow women to drive is expected to positively affect the local insurance firms which will witness an increase in insurance requests and companies will become more competitive in providing better services. Insurance on vehicles in Saudi Arabia represent a third of the total value of this vital sector. Official figures, issued in 2016, revealed that the insurance sector in the Kingdom is continuing to grow. Paid claims pertaining to insurance on vehicles represent 35 percent of the total paid claims in 2016. These figures coincide with the beginning of Saudi plans to provide more job opportunities in the insurance sector and the kingdom’s saudization of vacancies in the vehicles’ claims departments. The program to develop the financial sector in Saudi Arabia works on boosting the capital markets in the Kingdom and improving the experience of operators and users, as well as advancing the capital markets status on the regional level.
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