Critical Review of Embedded Insurance: Opportunities, Challenges and Sustainability in the GCC

This paper presents a critical analysis of the current state of embedded insurance within the insurance sector in GCC. It discusses embedded insurance evolution, analysing its global impact in addition to its growing relevance to GCC countries. Despite its potential within GCC region, the adoption of embedded insurance remains limited to travel insurances bundled with credit cards lacking personalized offerings. The paper further highlights the opportunities with the rising demand for motor and medical insurance within GCC, emphasizing the importance of a robust ecosystem that relies on strategic partnerships and supportive regulations. Additionally, it highlights how embedded insurance can align with sustainability objectives, specifically financial inclusion. The paper highlights data privacy as the key challenge to embedded insurance, reinforcing the need for a robust regulatory framework that protects customers data and foster innovation for successful implementation of this insurance model.