Riyadh – Mubasher: Haitham Adel Qadri, Partner and Deputy General Manager for Administrative Affairs and Internal Control at Concord, talked with Mubasher.info in an interview during the 24 Fintech event, which made its debut in Saudi Arabia on 3 September 2024.
Qadri noted that Concord is a Saudi insurance brokerage company incorporated in 2016 by experts who brought more than 25 of experience in the insurance market and currently has more than 150 employees.
“We cover all insurance brokerage services in different fields, including the medical, auto, properties, and others,” the Partner elaborated.
The company is coping with the technology in the insurance market and has inaugurated a platform to buy and sell insurance policies through insurance companies.
Qadri added that the company has partnerships with the majority of insurance companies. He noted: “We aim to change the culture and therefore we have initiated a platform that has a different language, we chose Urdu.”
Concord’s official said: “With our seven years in the insurance brokerage market, we have proven ourselves in the industry by improving the customer experience to a better level that goes in line with the Saudi market’s demands.”
Challenges and Strategy for Expansion
The company faced challenges in the past period but managed to overcome them through the changes, upgrades, and developments that were in favor of the insurance brokerage market and with the foundation of the Insurance Authority (IA) and the Saudization of the business development sector by 100% since 2023.
Qadri concluded: “We plan to have insurance covering medical occupational risks.”
Looking forward, the current strategy is to expand and grow the business, increase the market share, have brokerage partners across the Kingdom, and improve customer experience.
It is worth noting that Hamza Abusitta, Co-Founder and CEO of Reachware, as well as Omar Khaled, Chief Commercial Officer (CCO) at EzPay, discussed their companies’ objectives, plans, and strategies in interviews with Mubasher.info during the three-day event.
