Rasan subsidiary gets IA nod to provide insurance for leased cars

Rasan Information Technology Co.’s (Rasan) subsidiary, Tameeni, received, on Aug. 19, the approval of the Insurance Authority (IA) to sell a comprehensive insurance product specifically designed for leased vehicles, according to a statement to Tadawul.

The new product will allow Tameeni to offer its solutions directly, without the need for intermediaries, including insurance brokers’ services for auto leasing companies and other sectors.

Services that were previously provided under Software as Service “SaaS” or technical support with licensed insurance brokers will now be offered directly by Tameeni, the statement said.

Tameeni will begin implementing this new model effect today, which is expected to positively contribute to revenue growth in parallel with Tameeni’s transition to a full-service model.

The services are likely to positively impact the company’s financial performance for 2024