Challenges Facing the Saudi Arabian Life Insurance Market

Economic Fluctuations: Economic downturns can impact consumer spending and insurance demand.
Regulatory Challenges: Adhering to complex regulations related to insurance, data privacy, and consumer protection can be challenging.
Limited Financial Literacy: Low levels of financial literacy among the population can hinder the adoption of life insurance products.
Infrastructure Development: Improving infrastructure, such as telecommunications and technology, is essential for the growth of the insurance industry.
Competition: Intense competition among insurers, both domestic and international, can put pressure on pricing and profitability.