Q&A with Eng. Ali Sheneamer on Bupa Arabia’s participation at the Global Insurance Conference and Exhibition

● To begin, could you tell us more about the reason behind Bupa Arabia’s participation at the recent Global Insurance Conference and Exhibition?

Bupa Arabia's participation stems from its unwavering commitment to supporting the development of the insurance and healthcare sectors in Saudi Arabia. We believe this conference serves as a valuable platform that brings together leading executives and decision-makers in the industry to exchange insights about the future of insurance. Through our participation, we aim to present an advanced model of healthcare that aligns with the national transformation toward a more efficient and innovative health future.

● How does this participation reflect Bupa Arabia’s commitment to supporting the development of the insurance sector in line with Vision 2030 objectives?

Bupa Arabia’s participation reflects its commitment to supporting Vision 2030, particularly in developing the health and insurance sectors. The company aims to move from traditional insurance to an advanced model that integrates healthcare services within a digital ecosystem by adopting cutting-edge technologies and providing innovative solutions that enhance operational efficiency and improve customer experience.

● What are the main areas of Bupa Arabia’s participation in the conference — including sessions or leadership panels?

Bupa Arabia’s participation centered around a leadership session featuring CEO Tal Nazer titled “Leadership Insights – Driving Growth in the Saudi Insurance Sector,” which discussed priorities for the next phase and explored ways to achieve sustainable growth in line with Vision 2030, focusing on balancing regulation, innovation, and risk management.

Bupa Arabia also signed 17 new agreements with healthcare providers across the Kingdom to expand the “Bupa No Approvals” initiative and enhance public-private integration, supporting the sector’s financial and operational stability in alignment with Vision 2030.

● From your perspective, how important is the Global Insurance Conference in building a more sustainable and competitive insurance ecosystem in Saudi Arabia?

The first edition of the conference represents a strategic milestone in developing Saudi Arabia’s insurance sector, bringing together experts and decision-makers to exchange knowledge and shape a more sustainable future. It showcases global best practices in risk management and innovation and enhances integration between insurance providers and the healthcare sector, strengthening national and international collaboration.

● How will these partnerships support Bupa Arabia’s digital transformation strategy and service development?

These partnerships strengthen Bupa Arabia’s digital transformation by enhancing integration within the healthcare ecosystem through advanced technologies that improve efficiency and customer experience. They enable smarter systems for data and operations management, expand the digital ecosystem, and support Vision 2030’s digital transformation goals.

They also extend the role of Bupa CareConnect, which provides over 400,000 digital consultations annually along with home-care services, lab tests, vaccinations, and prescription refills. This integration simplifies the patient journey from diagnosis to medication delivery through partnerships with Al Borg Laboratories and Al Nahdi Pharmacies.

● How would you describe Bupa Arabia’s current position in the market, and what indicators reflect its continued leadership?

Bupa Arabia continues to strengthen its position as the leading health insurance company in the Kingdom, achieving a market share of 45.7% as of the first half of 2025 — the highest in the sector in recent years. This reflects the strong trust our customers place in our services and our commitment to delivering comprehensive healthcare solutions that meet world-class standards.

Reports from the Insurance Authority also highlight Bupa Arabia’s excellence in customer satisfaction indicators, with the company achieving an 81% customer satisfaction score, compared to an industry average of just 52%. This demonstrates our continued dedication to enhancing the customer experience, providing services that meet their expectations, and contributing to the overall improvement of the healthcare system in the Kingdom.

● How does Bupa Arabia view the Saudi health insurance sector as an investment opportunity, and what factors support its growth in the coming years?

The insurance sector represents a major investment opportunity, driven by Vision 2030 reforms and increased awareness of health insurance. Reports indicate health insurance is the main growth engine, with GWP expected to rise from SAR 42 billion in 2024 to around SAR 83 billion by 2030 due to telemedicine expansion, regulatory development, and rising demand for integrated and personalized care.

Bupa sees this growth as an opportunity to reinforce its leadership through Bupa CareConnect and investments in digital health, analytics, and strategic partnerships.

● What future trends in digital health and insurtech does Bupa Arabia expect to shape the future of health insurance?

The sector is rapidly moving toward comprehensive digital transformation driven by advanced technologies and evolving customer expectations under Vision 2030. Bupa Arabia sees key trends such as AI-powered risk management, integrated care models through Bupa CareConnect, increased adoption of telemedicine, and a strong focus on preventive health and wellness.

● What are the key features of the “Bupa No Approvals” initiative, and how does it improve customer experience?

The initiative allows beneficiaries to receive treatment directly at participating hospitals without prior medical approvals, making visits faster and more convenient and improving customer experience.

● What is the expected size of Saudi Arabia’s insurance market by 2030?

Estimates indicate that total gross written premiums (GWP) will rise from SAR 75.9 billion in 2024 to more than SAR 129 billion by 2030, with health insurance remaining the primary driver of growth. Health insurance currently accounts for 55% of the market, valued at SAR 42 billion in 2024, and is expected to reach nearly SAR 83 billion by 2030, representing around 64% of total insurance premiums in the Kingdom.

This growth is fueled by a combination of factors, including Vision 2030 programs, digital transformation, strong regulatory oversight, enforcement initiatives, and the expansion of healthcare infrastructure across the Kingdom.

● What are the key growth drivers of Saudi Arabia’s insurance market?

Vision 2030 is a major driver through mega-projects exceeding SAR 1 trillion and digital and healthcare infrastructure development. Health insurance remains the main growth engine at SAR 42 billion in 2024 with potential to nearly double by 2030, supported by value-based care models and digital healthcare expansion. Telemedicine improves accessibility and reduces costs, while Riyadh drives growth through major projects and international business expansion.

● What are the main challenges facing the health insurance sector, and how has Bupa Arabia addressed them?

A significant enforcement gap remains in insured individuals, driven by regulatory and operational challenges and posing a risk to the sustainability of the health insurance ecosystem. Medical inflation also represents a major challenge, along with digital disparity for smaller companies that may be forced to merge or exit the market.

Bupa Arabia has successfully overcome these challenges by embracing digital innovation and adopting data-driven preventive care models, enhancing service quality and ensuring sustainable market growth.

● How is digital transformation shaping the future of health insurance, and what role is Bupa Arabia playing?

The market is expanding rapidly, supported by Vision 2030 and strict enforcement. Digital transformation provides tools to create new value for patients. Bupa emphasizes that data is the new currency and value-based care is key to controlling medical inflation. Through Bupa CareConnect, the company continues redefining healthcare via digital innovation, AI-powered care management, and preventive programs.

● What are the projected growth scenarios for health insurance through 2030?

Base Scenario (TSE): 15 million insured individuals and SAR 65.2 billion in health premiums by 2030.

Regulatory Tightening & New Segments Scenario: Additional SAR 9.8 billion in mandatory coverage (2026–2030) plus SAR 2 billion for domestic workers, with total premiums potentially reaching SAR 83 billion by 2030.

                 
                    
            

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