Riyadh, Saudi Arabia – Saudi Arabia saw an 18% surge in health insurance beneficiaries in 2022, reaching a total of 11.5 million individuals by year-end, a report by the Saudi Council of Health Insurance revealed. The target is to reach 25 million beneficiaries by 2030, aiming for health insurance to contribute approximately 2% of the GDP, estimated at SR61 billion ($16.27 billion) by the same year.
The expansion in the sector is largely propelled by the introduction of the mandatory health insurance for private sector workers and their dependents.
The council initiated the rollout of Nphies, a unified electronic platform aimed at revolutionizing health insurance services. This national platform streamlines insurance exchanges, governs claims processing, facilitates financial transactions, and ensures secure information sharing among insurance operations.
Its objectives include establishing a consolidated health profile for insured individuals, streamlining approval processes, and cutting down both costs and time involved by electronically connecting financial transactions between healthcare providers and insurance companies.
