The insurance industry growth trajectory is expected to continue in the long term, fueled by sustained economic diversification initiatives, population growth, and substantial infrastructure development within the region. GCC insurance companies are looking to invest in Artificial Intelligence, Internet of Things, and blockchain in product development to enhance customer support, real-time monitoring of claims and prevent fraudulent claims. M&A activity in the region is expected to continue with expectations of focus on collaborations with Insurtech companies to create new models and enhance operational efficiency.
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