Riyadh – Mubasher: Tree Digital Insurance Agency has officially launched the first Pet Insurance service in Saudi Arabia, marking a new era in the digital insurance industry.
The groundbreaking product is designed to meet the growing needs of pet owners in Riyadh and beyond while being part of Tree’s broader strategy to expand its digital offerings, according to a press release.
Initiating this pet insurance product also comes in line with the objective of the Saudi Vision 2030 to enhance digital infrastructure and improve the quality of life for residents across the Kingdom.
Member of Tree’s Executive Management, Bader Alhathal, said: “This product is more than just insurance; it’s a commitment to the well-being of our pets and the peace of mind of their owners.”
Alhathal added: “By offering Pet Insurance, we are taking a significant step toward providing comprehensive, accessible, and digitally-driven solutions that cater to the modern lifestyle of our customers.”
Tree’s Pet Insurance is the only product of its kind licensed by the Saudi Insurance Authority (IA), providing comprehensive insurance coverage for cats and dogs. It further offers financial protection for pet owners against the costs of veterinary care, surgeries, medications, and more.
CEO of Tree Digital Insurance, Preeti Mundhra, said: “Today’s launch of Pet Insurance marks a pivotal moment in the evolution of Saudi Arabia’s insurance sector.”
Mundhra elaborated by saying: “As the first digital insurance agency in the Kingdom, we are committed to driving digital transformation and bringing innovative products to market that address the unique needs of our customers.”
She noted: “This product not only protects pets but also enhances the overall support system available to pet owners, contributing to the quality of life improvements envisioned in Vision 2030.”
The company noted that the Kingdom’s Insurance Authority played a crucial role in enabling it to bring this innovative product to the Saudi market; a step carried out by lifting regulatory restrictions and granting Tree a perpetual license earlier in 2024.
Mundhra concluded: “We are grateful for the continued support of the Insurance Authority, which has been instrumental in our journey to becoming a leader in digital insurance…. Their commitment to innovation and public-private collaboration has been key to our success.”
Launching Tree’s Pet Insurance comes at a time when Saudi Arabia is seeing rapid growth in pet ownership, namely in urban centres like Riyadh.
It is worth noting that Tree is Saudi Arabia’s first digital insurance agency that was established in 2022 with the goal of transforming the insurance sector through digital innovation. The company aims to offer different products like motor insurance, travel insurance, and now pet insurance.
According to a previous interview with Mubasher.info, Saudi Arabia has been witnessing different services in the veterinary field like Vetwork which operates in the Kingdom in addition to Egypt and the UAE as revealed by its Founder and CEO Fady Azzouny.
