Saudi Arabia’s healthcare and insurance industries are in the middle of their most transformative chapter in decades. The national push towards fulfilling the ambitious diversification strategy “Vision 2030” is reshaping how people receive care, how employers support employee health, and how technology integrates into every step. In this evolving landscape, the insurance broker’s role is being redefined. No longer just a middleman, today’s broker is also expected to be a strategic partner who understands regulation, manages complex benefits, leverages technology, and delivers a human experience.
The Kingdom’s insurance sector is poised for rapid expansion, with health coverage and regulatory reforms driving record growth across the market. The health insurance market is projected to nearly double by 2030, with premiums expected to rise from SAR 42 billion in 2024 to SAR 83 billion, according to the Saudi Insurance Sector Review 2024 from Bupa Arabia for Cooperative Insurance.
The surge is driven by diversification initiatives, regulatory reforms, digital transformation, and expanding healthcare infrastructure. Health insurance accounts for 55% of the market, and mandatory coverage is being extended to new groups, including domestic workers and gig economy employees, potentially adding SAR 9.4 billion in GWP (Gross Written Premiums). Tourism is also expected to boost premiums by SAR 4.5 billion as Saudi Arabia targets 150 million visitors annually by 2030.
The sector has tripled over the past decade, growing from SAR 21.3 billion in 2012. Post-pandemic, insurers adopted digital platforms such as the InsurTech Sandbox, Nafis platform, and the “Virtual Hospital,” helping the sector maintain growth at a 22% compound annual growth rate (CAGR). The establishment of the Insurance Authority (IA) in the Kingdom has marked another chapter of fundamental development, aligning with “Vision 2030” and the “Financial Sector Development Programme.” This regulatory overhaul also aims to create a robust, stable, and dynamic insurance sector, fostering clearer regulations, enhanced supervision, and increased opportunities for innovation and expansion. Considering this context, Almamoon Insurance Broker has established itself as a market leader.
Since receiving its operating license in 2008, Almamoon Insurance Broker has established itself as one of the pioneering Saudi companies in the insurance sector, specialising in providing comprehensive solutions for businesses. Partnering with leading insurance providers, Almamoon offers various coverage options, including property, liability, and employee benefits insurance. With a focus on understanding the unique needs of each business, Almamoon ensures that companies receive customised, cost-effective insurance solutions to protect their assets and operations. Recently, the company was named “Most Innovative Health Insurance Broker – Saudi Arabia 2025” by International Finance, further cementing its transformation from a transactional service provider into a value-driven health partner.
In addition to winning the International Finance Award, Almamoon marked another significant milestone in 2024 by obtaining an electronic insurance brokerage license. The company also received Sharia Certification from Sharia Review House LLC, affirming its strict compliance with Islamic Sharia principles in all operations. Further underscoring its commitment to excellence, Almamoon earned both ISO 9001 and ISO 10002 certifications, reflecting its dedication to quality management and outstanding customer service.
In an exclusive interview with International Finance, Almamoon Insurance Broker CEO Mamdouh Tantawi said, “Heath Lambert was our joint venture partner operating in Saudi Arabia in 2001. After Almamoon’s management acquired its license in Saudi Arabia, we established our brokerage, Almamoon Broker, in 2005, further strengthening our commitment to delivering reliable insurance services tailored to the local market.”
Building trust before technology
Almamoon leadership understood one truth early: innovation without trust is fragile. In an industry where lives and livelihoods are at stake, credibility is the currency that buys permission to innovate. Based on that reality, Almamoon made the task of delivering excellence in insurance brokerage its main mission.
“To provide exceptional insurance brokerage services by combining our expertise, integrity, and dedication, we are committed to achieving the best outcomes for our clients, ensuring their financial well-being and peace of mind in every transaction. We aspire to be the most trusted partner for our clients, guiding them through the complexities of the insurance landscape with innovative solutions. Our goal is to build a legacy of trust and empowerment, ensuring our clients’ financial security and success for generations,” Mamdouh Tantawi noted.
Before building apps or integrating APIs, the company invested heavily in people, governance, and compliance. Every operational layer has now been aligned with national regulations and Sharia principles. Data is hosted securely within the Kingdom, and transparent audit trails ensure accountability for every action. The company’s ISO 9001 certification signals a commitment to quality management, while ISO 10002 reflects a structured approach to handling feedback and resolving customer concerns. This strong compliance foundation has safeguarded clients and empowered Almamoon to innovate without compromising ethics or legal standards.
“At Almamoon Broker, our mission is simple yet profound: to empower you to achieve your financial goals and aspirations. We understand that navigating the complexities of the financial markets can be daunting, which is why we are committed to providing our clients with the guidance, expertise, and support they need to make informed decisions and seize opportunities. Our success is measured not only by the returns on their investments, but also by the strength of the relationships we build. Client satisfaction and success are our top priorities, and we are dedicated to exceeding expectations at every turn,” the CEO added.
Almamoon provides tailored insurance and risk management strategies that meet the unique needs of its clients across various industries. With extensive local and international experience, the insurance broker combines global expertise with a deep understanding of Saudi market dynamics.
“Our experienced team provides proactive, consultative advice, leveraging deep market knowledge to deliver the best possible outcomes for each client’s business. The team manages every aspect of the client’s insurance needs—from placement to claims management—ensuring efficient, effective, and timely solutions. We prioritise each client’s unique requirements, offering personalised services that align with their business objectives and risk profile. Our strong relationships with top-rated insurance carriers enable the firm to secure competitive pricing and superior coverage for the clients,” Mamdouh Tantawi asserted.
Technology designed for humans
After securing its compliance foundation, Almamoon shifted its focus to technology, ensuring that every innovation served a defined purpose and resulted in a measurable outcome. Every digital solution has been built to solve real client challenges, not just to look impressive in a product brochure.
Almamoon’s proprietary digital platform now brings together services that once required multiple calls, emails, and paper forms. Real-time policy viewing, instant account statements, and an integrated ticketing system for service requests ensure seamless communication. Secure API integrations connect directly to leading insurers, reducing turnaround times and errors. Meanwhile, Microsoft Power BI dashboards transform raw claims data into visual insights, enabling HR and finance teams to make informed, data-driven decisions. In practice, an HR manager can log in, check every employee’s claim status, analyse cost trends, and even request policy adjustments, all within minutes, without the back-and-forth traditionally associated with brokers.
Saudi Arabia’s economic diversification has resulted in the most diverse workforce the Kingdom has ever seen. Employers range from multinational corporations and semi-government bodies to fast-growing SMEs and family-owned businesses. Almamoon recognised that a one-size-fits-all approach fails in such a varied environment. Instead, it developed the expertise to create customised health insurance solutions tailored to each segment.
“Large enterprises benefit from integrated wellness and chronic disease management programmes, SMEs get affordable plans with meaningful benefits, financial institutions receive compliance-driven coverage, and government or semi-government clients are offered fully Sharia-compliant policies. These solutions are not theoretical. They are built after careful analysis of workforce demographics, claims history, and utilisation patterns, ensuring that coverage is relevant, cost-effective, and sustainable,” he added.
Putting people at the centre
While many brokers focus on digital transformation, Almamoon emphasises human transformation, improving the way people experience insurance. Its multi-channel service model reflects modern communication habits: mobile apps for tech-savvy users, WhatsApp for quick interactions, and a dedicated health desk for those who prefer human contact. The company has also redesigned processes like outpatient reimbursements for speed and clarity. Policyholders now receive reimbursements faster, with fewer requests for extra documentation, making health insurance feel like a genuine benefit rather than a bureaucratic task.
Among its core services, Almamoon offers comprehensive insurance risk assessment and management, developing tailored mitigation strategies for its clients. In addition to consulting on cost management, savings, and negotiating better rates, the company has built a strong reputation for exceptional customer service and responsiveness. Through its insurance placement and coverage services, Almamoon helps clients secure suitable policies while customising coverage to meet their specific needs. Under its policy review and optimisation programme, clients receive regular policy evaluations along with expert recommendations for coverage adjustments.
Almamoon also provides the Saudi Arabian market with multiple policy options, making it easier to select the best coverage, even during renewal periods. Additional essential services include claims assistance and advocacy, specialised insurance solutions, and compliance and regulatory guidance.
A culture of rapid innovation
Almamoon’s working culture is built on short feedback loops and rapid prototyping. Ideas are tested in real-world conditions, refined based on results, and rolled out without delay, which is a stark contrast to the slower cycles that dominate the industry. Recent innovations by the venture include AI-powered chatbots that provide policy details on demand, interactive wellness programmes that encourage healthy living, and a smart renewal engine that anticipates client needs and simplifies annual updates. Innovation here isn’t a department; it’s a daily habit shared by claims specialists, software engineers, and many others.
Talking about Almamoon’s innovative insurance services, a special mention must be made of the cutting-edge “New Leasing Platform” developed by the venture to comply with IA (Saudi Insurance Authority) regulations and ensure seamless operations for banks and auto-leasing finance partners. In addition to ensuring regulatory compliance, the user-friendly platform is recognised for its fast processing speed, interactive dashboards, and seamless API integration.
Almamoon has established its strong presence across the insurance industry verticals. Be it marine (inland transit, marine cargo, marine hull and machinery insurance), motor (motor comprehensive insurance, motor third-party liability insurance, and motor trade insurance), industrial and energy (boilers and pressure vessel insurance), or aviation (aviation insurance and airport operations liability), Almamoon has its tailored products and services lined up for the industry players.
In the financial field, Almamoon’s solutions cover domains like indemnity, directors and officers’ liability, cybercrime, bankers’ blanket bond, trade credit insurance, and group creditor insurance. For working professionals, the company offers group personal accident insurance, group medical insurance, group life insurance, and a group savings plan.
Growth with a purpose
Almamoon established its main office in 2005, laying the foundation for its regional presence. In alignment with the Kingdom’s Vision 2030, the company inaugurated its Riyadh office in 2019 under the patronage of His Highness Crown Prince Mohammed bin Salman. Almamoon strategically launched a second branch in Riyadh to support the expanding needs of Saudi enterprises, particularly within the emerging government and semi-government sectors, and to accommodate the influx of international companies entering the Kingdom.
Also, opening a new branch in Alkhobar strengthens Almamoon’s presence in the Eastern Province, bringing services closer to clients in one of the country’s most dynamic business hubs. Strategic partnerships with insurers enable Almamoon to offer bundled solutions that combine health coverage with auto and life insurance, streamlining procurement for corporate clients.
Since 2022, Almamoon’s approach has driven double-digit annual growth in Gross Written Premium (GWP). However, the company views growth as a means to an end. Its goal is to extend high-quality, client-focused service to more organisations and individuals across the Kingdom.
“Transformation at Almamoon isn’t just about headline-grabbing strategies. It’s about hundreds of micro-decisions made every week. A claims specialist finds a way to cut processing time in half. A developer refines a mobile app feature after observing user behaviour. A regional manager pilots a new onboarding system that later becomes company-wide policy. These small, consistent improvements accumulate into the large-scale changes that win industry recognition and client loyalty,” Mamdouh Tantawi added.
Another shining example of Almamoon’s innovation is the “Prestige Programme,” which takes care of the healthcare needs of the Saudi market. The programme covers chronic disease management, global assistance, maternity protocol programme, and home child vaccination.
What’s next for Almamoon?
The future of Almamoon is focused on deepening transparency, efficiency, and client empowerment. The next wave of innovation includes a self-service employer dashboard for total policy control, automated claims pre-authorisation to speed up approvals, and enhanced smart renewal tools to simplify policy management. These initiatives are designed to remove friction from the health insurance process, allowing clients to spend less time navigating benefits and more time focusing on their core business and employees’ well-being.
The strength of the Almamoon model lies in its balance. Regulatory discipline builds trust. Technological efficiency streamlines operations. Human-centred service creates long-term relationships. In a traditionally slow and opaque industry, Almamoon proves that brokerage can be fast, transparent, and super supportive.
By reshaping health insurance brokerage, Almamoon isn’t just adapting to change—it’s leading it. This mindset shows that in Saudi Arabia and beyond, the future of insurance brokerage will be built on trust, strengthened by technology, and guided by a focus on people.