GapCorp KSA LLC receives SAMA Licence

Company authorized to provide Third Party Administration and Claims Handling by Saudi Arabian Monetary Agency

GAPCORP KSA LLC, part of GAPCORP – the leading and largest international extended warranty provider – today announced that it has been granted a licence from the Saudi Arabian Monetary Agency [SAMA] to operate in the Kingdom and offer its world-class warranty business in the country.

The licensing is a major step in the company’s growth and expansion plans in the region, aimed at building on its international reputation and expertise in extended warranty, especially in the automobile sector.

GAPCORP KSA is the one of the few companies in Saudi Arabia to receive the SAMA license. With the licence, the company plans to work with various insurance companies to provide Third Party Administration and Claims Handling Services.

In his comments on the prestigious license, Mr. Nasser Watar, Chairman of GAPCORP KSA LLC, said: “The licence from Saudi Arabian Monetary Agency exemplifies our capabilities as a world-class organization and reinforces our ability to deliver to the market demands within the Kingdom. It is a testimony to our world-class quality delivery standards, our operational efficiency in providing extended warranty to the sector and our adherence to the rigorous legal requirements associated with the same.”

He added: “To be among the few companies in the Kingdom to receive the license is in itself a great responsibility bestowed on us. We remain committed to fully abide by the requirements.”

GAPCORP is a leading entity in Third Party Administration across the GCC, MENA, South East Asia and USA. The company’s superior know-how in claims handling of automotive products enhances the ability for insurers to provide the ultimate customer satisfaction.

The company currently handles Third Party Administration in more than 32 countries worldwide and is used by multiple automobile companies for the extended warranty products and automotive insurance administration.

The company offers the F&I platform scheme - a mechanism that provides auto dealers with a platform to manage the needs of their customers by creating a one-stop-shop for the consumer at the time of purchasing a vehicle.

GAPCORP already have a joint venture with Zuellig Group – one of the largest privately-held companies in South East Asia covering Thailand, Philippines, Singapore, Hong Kong, Malaysia and Indonesia under Asia Warranty Services and in the Gulf Council Countries under GAPGULF and in Europe through its European arm, the UK-based Euro Warranty.

About GAPCORP:

GAPCORP is a global market leader in leading sales, marketing and third party administration and marketing, operating in the GCC, Middle East, North Africa, Asia, Europe and the USA. GAPCORP is recognized for servicing well known Automotive Dealerships in and around the region with its extended warranty schemes and innovative expertise. The company also sells and develops a complete range of extended warranty programs and insurance services for the millennium customer.

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About GAPCORP:

GAPCORP is a global market leader in leading sales, marketing and third party administration and marketing, operating in the GCC, Middle East, North Africa, Asia, Europe and the USA. GAPCORP is recognized for servicing well known Automotive Dealerships in and around the region with its extended warranty schemes and innovative expertise. The company also sells and develops a complete range of extended warranty programs and insurance services for the millennium customer.

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This release was published on openPR.