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  2. Concord Insurance to expand market share in Saudi Arabia

Concord Insurance to expand market share in Saudi Arabia

NOHA.GAD
Sep 4, 2024
Concord Insurance Brokerage plans to expand its businesses and market share across Saudi Arabia

Riyadh - Exclusive Sharikat Mubasher: Concord Insurance Brokerage, a key player in the Saudi insurance landscape, plans to increase its market share and expand its businesses to cover all Saudi cities, Haitham Qadri, Deputy General Manager for Administrative Affairs and Internal Control, revealed in an interview with Sharikat Mubasher on the sidelines of 24 Fintech summit.

He noted that the company adopts the leading-edge technologies in the insurance brokerage industry to keep pace with the latest advancements.

Qadri noted that Concord Insurance Brokerage has become one of the key players in the insurance sector throughout the past seven years, triggered by its dedication to adding value, enhancing customers’ experience, and meeting the needs of the Saudi market.

With branches across the Eastern Western and Central regions and over 150 employees, Concord Insurance Brokerage offerings include medical insurance, vehicle insurance, property insurance, and Money and fidelity insurance.

Concord Insurance Brokerage, founded in 2016, provides best-in-class services, including risk assessment, innovative solutions, proposing necessary coverages, and issuing policies from the top credible insurance firms.

24 Fintech takes place in Riyadh from 3 to 5 September, with the participation of more than 300 exhibitors and over 350 investors. It gathers regulatory bodies, policymakers, investors, technology experts, and industry leaders from around the world.

It serves as a platform for global thought leaders across finance, policy, technology, investment, and academia to discuss several topics, including, fintech regulation and governance, artificial intelligence and machine learning in financial operations, financial inclusion, cybersecurity and big data, embedded finance, and more.

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Savvy Group, Alfaisal University to launch new Game Design program
Riyadh - Sharikat Mubasher: Savvy Games Group, the Saudi gaming and e-sports company owned by the Public Investment Fund (PIF), signed a memorandum of understanding (MoU) with Alfaisal University to foster local talent entering the Saudi gaming industry.Under the MoU, both entities will launch a new Game Design program that will be delivered by Alfaisal University in partnership with Savvy Academy, Savvy’s flagship talent development initiative, according to the official statement.The collaboration includes developing curriculum and industry insight, and enhancing training facilities, including advanced hardware and laboratory upgrades.Majed Al-Muhanna, Chief Human Resources Officer of Savvy Games Group, said: “Through Savvy Academy, we are creating educational pathways that help students progress to professional careers in game development. This supports the National Gaming and Esports Strategy and Vision 2030’s ambition to establish Saudi Arabia as a global hub for games.”Savvy Group is committed to driving long-term growth and innovation in the games and esports industry through strategic acquisitions, investments, and partnerships. It manages a substantial $38 billion fund dedicated to bolstering this growing sector.In January, the PIF-owned group signed an MoU with NEOM to nurture Saudi gaming startups from incubation to acceleration.
Riyadh Air partners with Mastercard to reshape global travel experience
Riyadh - Sharikat Mubasher: Saudi Arabia’s new world-class airline, Riyadh Air, formed a strategic partnership with Mastercard to elevate the global travel experience for people and businesses.The partnership aims to introduce a wide range of innovations spanning consumer payments, premium airport experiences, and next-generation B2B travel payments, the airline announced in a press release today.As part of this collaboration, Riyadh Air will launch Riyadh Air-branded Mastercard credit and prepaid cards, enabling cardholders to earn flights, upgrades, lifestyle rewards, and exclusive experiences, all seamlessly embedded within the Riyadh Air ecosystem.Set to roll out to Saudi residents in late 2026, the cards will be fully integrated into the Riyadh Air mobile application, enabling guests to apply, activate, manage features, and track rewards effortlessly.Adam Boukadida, Chief Financial Officer at Riyadh Air, affirmed that the partnership will allow Riyadh Air to deliver exceptional journeys for our guests around the world. “Our deep collaboration with Mastercard clearly reflects not only our commitment to be a digital native airline but strong confidence in our future trajectory. It allows us to build a travel experience that is seamless, digital, and distinctly differentiated,” he said.In turn, Dimitrios Dosis, President for Eastern Europe, the Middle East, and Africa at Mastercard, stated that the partnership underscores Mastercard’s role in creating meaningful solutions, paving the way for smart, secure, and seamless payments. “Together with Riyadh Air, we are creating an integrated digitally-native ecosystem that delivers value at every touchpoint, for guests, travel agents, airlines, and hospitality partners, while reinforcing Saudi Arabia’s role as a global travel hub.”Riyadh Air and Mastercard will also establish a joint center of excellence focusing on agentic innovation, shared data insights, and upskilling the next generation of talent.The hub will leverage cutting-edge technologies and real-world use cases to design, test, and scale new solutions, ultimately helping both entities to respond rapidly to market needs.
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