Use of technology for better recovery predictions and improvement in KSA legal system act as catalysts for the KSA Debt Collection Industry: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit 1. Total debt collected in KSA is expected to grow at a CAGR of 15% between the period of FY’21 and FY’26. For more information, request a free sample The average ticket size for the industry is ~ SAR 8,000. Financing segment account for majority of debt collected, however, the non-finance segment has major share in total number of cases settled as the non-finance segment has a low ticket size. The major source of revenue for debt collection companies is the commission charged on recovered amount. Providing credit reporting services is a secondary source of revenue for the companies. Growing at a significant pace due to the rise in digital collection techniques, increase in use of customer self-service (CSS) platforms, increasing use of AI and ML for recovery predictions, training collection agents to handle complex cases, the market is expected to grow at a CAGR of 15% in the next five years. 2. Net claims incurred by insurance companies in KSA stood at ~ SAR 6 Bn in 2021, witnessing a growth rate of 20.4% in FY’21. The net claims incurred by insurance companies in KSA witnessed a growth rate of 20.4% in 2021. Claims in motor, property/fire and accident & liability insurance are the major incurred claims that are outsourced to debt collection companies by insurance companies. Although the net claims incurred by insurance companies witnessed a dip in 2020 due to COVID-19, it grew in 2021. 3. Motor Insurance claims form ~ 95% of net claims incurred by insurance companies. Visit A link Request for Custom Report Motor Insurance claims contribute most of net claims incurred by insurance companies, thereby creating market opportunity for debt collection companies, followed by property/fire insurance and accident & liability insurance. Net claims in motor insurance and accident & liability insurance witnessed considerable growth in 2021 after declining in 2020 due to COVID-19. 4. NPLs as % of total gross loans for Saudi Banks is relatively higher than that of other MENA countries like Djibouti, Israel and Kuwait.. The total NPLs by Saudi Banks as % of total gross loans stood at 2.18% in 2020. Total non-performing loans by SAMA licensed Saudi banks stood at ~ SAR 31 Bn in 2021 declining by 3.3% over the previous year. NPLs by Saudi banks as % of total gross loans have witnessed steady rise over the last five years thereby creating market opportunity for debt collection companies catering to the financing segment as around 75% of debt collection is outsourced to third party collection agencies. 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