Saudi Arabia – Competition decreases motor insurance prices
Thursday, 07 06 2017, Category: Insurance and Reinsurance, Country: Saudi Arabia
Motor insurance prices decreased at different rates during the past period due to the strong competition among insurers following the recommendations of actuaries about the necessity of decreasing prices in order to maintain market shares according to experts quoted by “Al Eqtisadia”.
Moreover, the expert added that some insurance companies that rely on the quality of provided service maintained high motor insurance prices. However, the majority of insurance companies offered attractive services to old and new customers by decreasing prices by 30 to 40 percent but this affected negatively the quality of service.
Source: Al Eqtisadia