The Insurance Authority launched the hackathon as part of its innovation ecosystem, which also includes an incubator, an accelerator and a regulatory sandbox, the authority said on its website. Teams will turn sector problems into prototypes in one of four tracks: customer experience and digital services, artificial intelligence and data, embedded and on-demand insurance, and mega events and mass gatherings.
Registration is open until 7 November, and the hackathon takes place at The Garage in Riyadh on 12-14 November. Three winners in each track share SAR 560,000, with first prizes of SAR 80,000, and the best projects can move into the authority's incubation and acceleration programmes and its regulatory sandbox. Winners will be honoured at the Global Insurance Conference and Exhibition.
The authority links the event to the National Insurance Sector Strategy and Vision 2030. It is open to students, developers, start-ups, insurtech firms and industry experts.
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Saudi Insurance Authority — news ↗This is an original summary of the linked report, selected by our GCC market monitor. Facts are attributed to the publication.