Saudi Arabia's Insurance Authority has launched an InsurTech hackathon offering SAR 560,000 in prizes across four innovation tracks. Applications remain open until 7 November 2026, with the competition scheduled for 12–14 November in Riyadh.
On 18 October 2026, Saudi Arabia's Insurance Authority unveiled a new Insurance Hackathon, inviting startups, developers, technology professionals and insurance industry experts to build answers to problems facing the insurance sector.
A combined cash pool of SAR 560,000 is up for grabs, and the event sits within the Innovation Ecosystem that the regulator unveiled recently.
The initiative focuses on four areas: customer experience, artificial intelligence, embedded insurance and insurance for major events.
Participants can register through the Insurance Authority's official Innovation Ecosystem platform until 7 November 2026.
What Is the Saudi Insurance Authority's Hackathon?
In this competition, teams build technology solutions and prototypes aimed at problems the insurance industry faces.
The event belongs to a wider Innovation Ecosystem run by the Insurance Authority, alongside four other programmes: a Business Incubator, an Accelerator, a Regulatory Sandbox and a Perks Platform.
The regulator links the initiative to Saudi Vision 2030 and its National Insurance Sector Strategy, with the aim of driving wider use of technology, data and artificial intelligence.
Selected projects can be referred to further development programmes within the ecosystem.
However, participation or success in the competition does not automatically provide an insurance licence or authorisation to launch a regulated insurance product.
How Is the 2026 Hackathon Different From the Previous Edition?
The Saudi Insurance Authority previously conducted an Insurance Hackathon in 2024.
That edition focused on two tracks: insurance services automation and insurance technology companies.
Romanah topped the insurance services automation track and took home SAR 50,000, with Waei (SAR 30,000) and Dafa (SAR 20,000) finishing second and third.
In 2026 the number of tracks doubles from two to four, and the winner of every track now receives SAR 80,000.
| Competition Detail | 2024 Edition | 2026 Edition |
|---|---|---|
| Number of tracks | 2 | 4 |
| First prize | SAR 50,000 in the automation track | SAR 80,000 per track |
| Second prize | SAR 30,000 in the automation track | SAR 40,000 per track |
| Third prize | SAR 20,000 in the automation track | SAR 20,000 per track |
This year's edition is also tied into the regulator's wider innovation programme, giving selected projects a route to further support.
What Are the Four Innovation Tracks?
The Insurance Authority has announced four competition tracks.
1. Customer Experience and Digital Services
This track focuses on developing digital solutions related to insurance services and customer experience.
It gives participants an opportunity to propose technology-based approaches within this area.
2. Artificial Intelligence and Data
The second track focuses on artificial intelligence and data-driven insurance innovation.
Potential applications could include underwriting support, fraud detection and claims processing. These are illustrative use cases, not specific projects mandated by the regulator's announcement.
For a practitioner's view of where AI delivers the most value, read our founder story on why AI's biggest wins in insurance are in distribution and claims, featuring former Ola and Paytm insurance leader Pranshu Diwan.
3. Embedded and On-Demand Insurance
This track focuses on insurance models that can be integrated into other customer journeys or made available when coverage is required.
It provides an opportunity for participants to develop technology concepts connected to these insurance models.
4. Mega Events and Mass Gatherings
This final track covers technology and insurance solutions for major events and large gatherings.
The authority has identified this as one of its strategic areas for the competition.
The October 18 announcement does not specify the detailed judging criteria for each track.
How Much Prize Money Is Available?
The SAR 560,000 pool is split evenly across the four competition tracks.
Each track offers three cash prizes.
| Position | Prize Per Track | Total Across Four Tracks |
|---|---|---|
| First place | SAR 80,000 | SAR 320,000 |
| Second place | SAR 40,000 | SAR 160,000 |
| Third place | SAR 20,000 | SAR 80,000 |
| Total | SAR 140,000 | SAR 560,000 |
Beyond the money, prize-winning teams also move on to the ecosystem's incubation and acceleration support.
Who Can Participate?
Participation is not limited to one profession or level of education.
According to the official announcement, eligible groups include:
- University students
- Software developers and technology professionals
- Innovators and entrepreneurs
- Startups and InsurTech companies
- Insurance industry experts
To prepare, teams get access to orientation webinars, hands-on workshops and mentors whose expertise spans insurance, technology, product development, entrepreneurship and business.
Applicants should review the official registration conditions before submitting their entries.
What Support Is Available Beyond Prize Money?
The Insurance Authority has linked the hackathon to its wider set of innovation programmes.
Incubation and Acceleration
Teams that win are guaranteed a spot in the ecosystem's programmes for incubating and accelerating new ventures.
Regulatory Sandbox
According to the authority, the leading projects can also be put forward to its Regulatory Sandbox.
A referral should not be treated as automatic regulatory approval or a guarantee that a solution will be launched commercially.
Perks and Services Platform
Every applicant can use a platform that lists over 172 digital tools and perks.
The authority estimates their combined value at more than US$2 million.
Each provider sets its own eligibility rules for the individual benefits.
What Are the Important Dates?
| Stage | Date |
|---|---|
| Registration opens | 18 October 2026 |
| Registration closes | 7 November 2026 |
| Shortlisting and acceptance | 7–10 November 2026 |
| Hackathon at The Garage, Riyadh | 12–14 November 2026 |
| Winners recognised at ingate 2026 | 16–18 November 2026 |
The three-day competition in Riyadh will involve project evaluation and winner selection.
Prize winners will then be honoured at ingate 2026, the Global Insurance Conference and Exhibition.
What Does the Hackathon Mean for the Insurance Industry?
The launch identifies four areas in which Saudi Arabia's Insurance Authority is encouraging technology-based innovation.
For insurance companies, the programme provides visibility into the types of challenges the regulator wants innovators to address.
For InsurTech startups and technology developers, it offers an opportunity to present solutions, compete for funding through cash prizes and potentially access further development support. For a founder's perspective on making that move, read how an actuary went from calculating risk to building an InsurTech company.
Brokers and distribution businesses may also find the embedded and on-demand insurance track relevant to their operations. Our founder story on how Beshak built its insurance distribution model around customer trust explores how technology is changing the way cover reaches customers.
However, the competition's longer-term business impact will depend on the projects developed and their progress beyond the event.
The Insurance Authority has not announced that any new insurance technology developed through this edition has already received commercial approval.
How Can Participants Apply?
Interested applicants can register through the Saudi Insurance Authority's official Innovation Ecosystem website.
Official Registration: il.ia.gov.sa/programs/hackathon-1
Applications must be submitted by 7 November 2026.
Participants should review the official terms, eligibility requirements and submission instructions on the registration platform.
Frequently asked questions
- What is the Insurance Authority Saudi Arabia Hackathon?
- It is an insurance technology competition organised by Saudi Arabia's Insurance Authority. Participating teams build technology solutions and prototypes that tackle problems facing the insurance industry.
- How much prize money is available?
- Total cash prizes come to SAR 560,000. Within every one of the four tracks, the winner receives SAR 80,000, the runner-up SAR 40,000 and the third-placed team SAR 20,000.
- When and where will the competition take place?
- The hackathon will take place at The Garage in Riyadh from 12 to 14 November 2026. Registration closes on 7 November.
- Who can participate?
- Entry is open to a broad mix of people: university students, developers, innovators and entrepreneurs, startups, InsurTech firms and experienced insurance professionals.
- Will winning teams receive regulatory approval?
- Not automatically. Winners move into incubation and acceleration support, and the top projects may be nominated for the Regulatory Sandbox. Any further regulatory authorisation is a separate matter.
- Is this Saudi Arabia's first Insurance Hackathon?
- No. The Insurance Authority previously held an Insurance Hackathon in 2024, featuring two tracks focused on insurance services automation and InsurTech companies.
Sources
The InsurTech Voice · An Initiative by Insurnest