Insurance agency

Study request

It is a company establishment for an insurance agent where the company provides insurance services of various types, such as (vehicle insurance policy – comprehensive,

Capital

rate of return

Recovery period Second year

Project Description

The project involves establishing an insurance agency that offers various types of insurance services, including (vehicle insurance policies – comprehensive, health insurance, property insurance, engineering insurance, and marine insurance). The insurance agent is the first point of contact between consumers and insurance companies. The agency assists businesses, individuals, and families in identifying the insurance policies that best meet their needs. The aim of an insurance policy is to provide the best protection for health, life, and property. Insurance is a system designed to mitigate the risks people face regarding their well-being or assets throughout their lives, reducing the impact of potential damages. It is a practical tool that allows individuals to reduce the effects of disasters, whether they occur due to personal negligence, accidents, or actions of others. Insurance is a safety mechanism that aligns with the modern era, where life’s demands are ever-increasing, and the risks associated with technological advancements are becoming more evident.

Project services

Vehicle insurance document
Medical insurance document
Property insurance
Engineering insurance
Marine insurance

Why Mashroo3k ?

Mashroo3k has over 10 years of experience in preparing feasibility studies, conducting market research, and providing comprehensive consulting services.
Mashroo3k has offices in 7 international branches, located in Saudi Arabia, the UAE, Egypt, Qatar, Oman, Yemen, and Iraq, in addition to its agents in China, Singapore, and other countries.
Having delivered over 7,000 feasibility studies, Mashroo3k has helped thousands of clients achieve their investment goals.
Mashroo3k’s services are accredited and trusted by all financial institutions and funding entities across the Middle East.
The company’s geographic reach spans 35 countries across all continents.
Mashroo3k holds membership in over 100 prestigious international organizations specializing in market research and business management.
Its team consists of 350 consultants with deep expertise in promising economic sectors, ensuring tailored solutions and strategies that meet clients’ needs.
Mashroo3k is partnered with more than 10,200 suppliers across 22 countries, providing logistical support for projects, including production lines, raw materials, machinery, and equipment.
With an extensive database, Mashroo3k enhances the accuracy of its forecasts and analyses, strengthening its risk management capabilities.

A means of ensuring the security of the insured
means of capital formation
means of credit
A protective factor against the risks that individuals may be exposed to.

Executive Summary

About the project
Financial Indicators
Rationale for the project
Government investment incentives in the project field
Target Markets
Project indicators and final results

Study of project services/products

Project description and all its products/services.
Project advantages and production requirements.

Market size study.

Understanding distribution channels.
Consumer behavior, preferences, and tendencies.
Competitors’ products or services, along with their strengths and weaknesses.
Market nature and its characteristics.
The demand size for the offered product or service.
The available share of the target market.
The optimal marketing strategy.

Risk assessment study.

Risk identification.
The impact of risks on the project.
Risk prevention methods.

Technical study

A detailed description of the project’s products, expected production capacity, and determination of investment costs.
Determining the required electricity and water capacity.
Determining the project’s labor requirements.
Determining the project’s requirements.
Calculating construction and building costs.
Calculating the total capital
Determining the annual operating costs.
Determining the amount of working capital.

Financial study.

Total investment costs required for the project.
Organizing cash flow statements, income statements, and the balance sheet for the first ten years of operation.
Determine the expected annual revenues of the project in light of the specified operational capacities
The optimal financing structure for the project in light of investors’ capabilities and financing conditions.
The project’s financial indicators and sensitivity analysis.

Organizational and administrative study.

Project workforce.
Organizational structure.
Job responsibilities.

The service sector does not rely on raw materials or goods for sale; rather, its activities are centered around providing intangible services. Like this: Transportation services, hospitality services, healthcare services, and others. This sector is considered the main driver of major economies; for example, in the United States, the service sector accounts for 85% of the GDP. As for the service sector in Saudi Arabia, statistics and indicators confirm its contribution of about 48.02% to the GDP. This vital sector includes five main activities.
Namely:
- Wholesale and retail trade, restaurants, and hotels:
The Gross Domestic Product (GDP) in Saudi Arabia reached 2,625,442 million SAR, with the “Wholesale and retail trade, restaurants, and hotels” sector contributing approximately 10.8% (284,579 million SAR).
- Transport, storage, and communications services:
Contributes approximately 6.6% (172,304 million SAR).
- Financial, Insurance, Real Estate, and Business Services:
The Financial, Insurance, Real Estate, and Business Services sector contributes approximately 6.4% (SAR 377,725 million) to the Gross Domestic Product (GDP).
- Collective, social and personal services:
This sector contributes approximately 2.5% (SAR 65,729 million) to the Gross Domestic Product (GDP).
- Government services:
It contributes 21.9% (SAR 576,089 million) to the Gross Domestic Product (GDP).

The service sector is expected to contribute approximately 58% to Saudi Arabia’s GDP by 2026.