How would you setup a car insurance company in Saudi Arabia?
I think it would be very difficult to setup a company or business for car insurance in Saudi Arabia since the accident rates are very high. I don’t know the policies of existing insurance compaines. I was insuring my car with full insurance in Turkey before coming to Saudi Arabia. I did it for the first year here but not anymore. It is very strange feeling and a question that must be answered by decision analyzers. Usually when the accident rates are becoming more, there are more insurance papers sold by insurance companies. But in Saudi Arabia, it is reverse. When there is more probability of having accidents, people become more reluctant to insure their cars. How would you explain this?
For the accident rates, please refer to article Are the worst drivers in the world in Saudi Arabia?
