Market Overview

The Qatar General Insurance Market reached a market size of USD 2.0 Billion in 2024. The market is forecasted to grow to USD 3.4 Billion by 2033, driven by factors such as growing infrastructure developments, mandatory health insurance, and increasing awareness about insurance benefits. These elements, together with a well-regulated financial landscape promoting stability and user protection, contribute to the market expansion. The growth is expected during the forecast period of 2025-2033 at a CAGR of 5.50%.

How AI is Reshaping the Future of Qatar General Insurance Market

• AI-driven data analytics enable insurers to customize products and improve service quality, enhancing customer satisfaction and retention.

• Government initiatives for mandatory health insurance enhance the integration of AI in claims processing and risk management, boosting efficiency.

• AI-powered chatbots and digital platforms help insurers offer personalized and prompt customer service, as seen with companies introducing seasonal campaigns like Sharq Insurance's Ramadan discount offer.

• Enhanced AI algorithms support the tourism and hospitality sector by providing tailored insurance products for travel and liability coverage, aligning with Qatar's growth as a tourist destination.

• Insurance companies, such as Aetna International and QGIRCO, leverage AI technologies to comply with local health regulation benefits, offering seamless coverage without deductibles.

• Awards and recognition, like Qatar Insurance Company (QIC) being named Best Travel Insurance Company in the Middle East, reflect the adoption of digital and AI-enhanced customer-centric services.

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Market Growth Factors

With the Qatar economy mainly driven by further economic diversification, and a large infrastructure investment program under the national visions, the Qatar general insurance market is expected to grow considerably, as demand increases for property and engineering insurance for new developments, commercial buildings and construction activities. Growth in urbanization and expatriate population is driving motor and liability business. There was increased awareness of risk management practices through regulatory improvements, leading to increased market demand for coverage for business and personal needs. Ease of access through digitalization and stabilized economic conditions as indicated by stable premium penetration for various classes of insurance contributed to overall growth in the sector.

General insurers continue to embrace technology, with digital tools, artificial intelligence and data analytics supporting improved efficiency and customer experience through online claims processing, policy issuance and online servicing of customers. The trend attracts a tech-savvy consumer accustomed to buying and managing insurance coverage through a quick and easy online user experience. Insurtech products often have a higher degree of customization, faster response times and lower costs. In contrast, regulatory support for digital insurance frameworks can result in faster innovation and market entry, better customer satisfaction and retention, greater competitiveness for the industry, and greater participation from underserved groups and communities.

Rising enrolment makes motor insurance one of the fastest growing segments of general insurance. Tighter conditions for ownership of all vehicles mandate third-party liability coverage for adherence to compliance requirements and protection if a policyholder is involved in an accident. Economic growth increases income and consumption levels, leading to an increase in vehicular traffic, vehicle registrations and thorough insurance. Urbanization and road infrastructure development also increase the risk level of assets and awareness of asset protection. Specific subcategories of motor business packages for certain groups of drivers have evolved and publicity has been created around the idea of having the appropriate policy. Motor lines of business remain a key area of coverage for insurers.

Market Segmentation

Type Insights:

• Property
• Motor
• MAT
• Miscellaneous

Regional Insights:

• Ad Dawhah
• Al Rayyan
• Al Wakrah
• Others

Recent Development & News

• April 2025: Qatar Insurance Company (QIC) won the Best Travel Insurance Company in the Middle East for the second consecutive year, highlighting their commitment to enhancing travel insurance through innovative digital technology and customer-centric services.

• March 2025: Sharq Insurance launched a Ramadan discount campaign offering up to 15% off on selected online insurance policies using the code Ramadan2024, enhancing customer engagement and convenience during the sacred month.

• October 2025: Cigna Healthcare partnered with AlKhaleej Takaful Insurance to improve healthcare insurance accessibility through digital tools and local expertise, supporting the government’s objective of advancing health insurance for expatriates and tourists.

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