Tree Digital Insurance Agency has launched the first pet insurance service in Saudi Arabia, to meet the needs of pet owners and to add innovation to the digital insurance market.
This product is part of Tree’s broader strategy to expand its digital insurance offerings, in line with Saudi Arabia’s Vision 2030 goals of enhancing the Kingdom’s digital infrastructure and improving the quality of life for its residents.
In a statement, Tree says that as the only insurance product of its kind licensed by the Insurance Authority in Saudi Arabia, its pet insurance provides comprehensive coverage for cats and dogs, offering financial protection for pet owners against the costs of veterinary care, surgeries, medications, and more.
Mr Bader Alhathal, a member of Tree’s executive management, 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. 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.”
The launch of pet Insurance takes place when Saudi Arabia is witnessing rapid growth in pet ownership, particularly in urban centres like Riyadh.
Role of the Insurance Authority (IA)
Tree says that the Insurance Authority (IA) played a crucial role in enabling the agency to market pet insurance. “By lifting regulatory restrictions and granting Tree a perpetual licence earlier this year, the IA has demonstrated its commitment to fostering a vibrant, diversified private sector, in alignment with the objectives of Vision 2030,” Tree said.
Established in 2022, Tree is Saudi Arabia’s first digital insurance agency. Tree offers a range of products that include motor insurance, travel insurance, and now pet insurance.