Bupa Arabia marks 25 years of health insurance leadership

Bupa Arabia marks 25 years of health insurance leadership
Tal Nazer, CEO of Bupa Arabia
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Updated 07 February 2023

Bupa Arabia marks 25 years of health insurance leadership

Bupa Arabia marks 25 years of health insurance leadership

For 25 years, Bupa Arabia for Cooperative Insurance has been at the forefront of the Kingdom’s health insurance sector, contributing to the development of the sector at all levels through the provision of distinguished healthcare services for millions of its customers.

Bupa Arabia offers a customer-centric experience that is fully tailored to each individual customer’s needs, using the most sophisticated technological tools. The company’s efforts are in line with its strategic vision as well as Vision 2030’s goals of improving the quality and efficiency of health services in the Kingdom.

Tal Nazer, CEO of Bupa Arabia, said: “The company has completed a quarter of a century with remarkable achievements, earning huge experience by serving the community. Bupa Arabia is today one of the most prominent, popular and innovative companies in the Kingdom. It plays a leadership role in the insurance market by focusing on customers’ needs.”

He added: “The company, in the beginning, faced certain challenges in a market driven by high costs, but we navigated through them successfully to become a leader in the health insurance sector in Saudi Arabia and the region.” 

Since its inception in 1997, Bupa Arabia has played a major role in the development of the insurance sector by providing the highest levels of innovation in its products and services, organizing campaigns and awareness events, as well as focusing on digital transformation. 

Bupa Arabia invested substantially in technology, where it established a department dedicated to digitization in 2018, incorporating a range of new capabilities and in turn, contributing to a significant increase in productivity.

The company constantly innovates its products and services taking into account the latest technologies to offer a seamless, digitally satisfying customer experience. For instance, the “Bupa Click” program offers a range of services through a single touch of the button while the Bupa Tebtom program provides services such as home vaccination, telemedicine, consultation, etc. 

The Rahatkom program provides an integrated end-to-end hospital experience for its members, in addition to a virtual telemedicine platform and exclusive services to facilitate the healthcare journey of its customers.

Bupa Arabia was the first company in Saudi Arabia to launch its services through an app. The “Bupa Arabia” app made it easier for customers to book hospital appointments, select clinics and pharmacies, receive approvals and book visual appointments with specialist doctors — all with the tap of a finger. It was also one of the first companies in the sector to send SMSes to the customer’s phone, updating them on the status of their requests.

Bupa Arabia increased its capital from SR1.2 billion ($320 million) to SR1.5 billion in December 2022, while the company’s issued shares increased from 120 million to 150 million.

It is worth noting that the health insurance sector has made good progress in terms of its contribution to the Saudi economy. Private health insurance is now alone expected to contribute more than SR60 billion to the Kingdom’s GDP by 2030, with the number of beneficiaries reaching 21.7 million.

“Bupa Arabia’s strategies have changed the face of the insurance industry in the Kingdom,” the CEO said, highlighting the insurer’s 3-billion-strong customer base, and its acquisition of more than 45 percent of the health insurance market.

Bupa Arabia received several accolades for its notable achievements in 2022 from both national and regional organizations, the latest of which are the Council of Health Insurance’s Excellence Awards in three categories, including the “C-Suite of the Year” award, which was presented to CEO Nazer. In addition, it also won the “Best Customer Service” and “NPHIES Health Insurance Services” awards. Overall, Bupa Arabia won 23 awards from 12 regional and local organizations in a variety of categories in 2022.