AP Plus

What AP Plus does

AP Plus (legal name: Authorized Policy Insurance Brokers Ltd.) is a Saudi Arabia-based insurance brokerage firm established in 2004 and licensed by the Insurance Authority (IA), formerly SAMA, in 2010. The company operates as an intermediary between IA-licensed insurers and end clients, designing risk management solutions for SMEs and corporate clients across more than 20 industry verticals including construction, energy, healthcare, manufacturing, transportation, hospitality, and financial services. The firm is headquartered in Jeddah with a second branch in Riyadh, employs over 100 people, and holds ISO 9001:2015 Quality Management System certification.

The firm's product portfolio spans approximately 30 insurance lines organized into Property, Engineering, General Accident, Health/Protection & Saving, Marine, Motor, and Miscellaneous categories, complemented by structured advisory Programs (Package A full risk transfer, Package B tailored, Package C mandatory minimum) and an online Industry Risk Assessment tool. The underlying technology stack is a brokerage platform and risk management advisory service accessible via a company website that displays insurer product prices, enables quotation booking held for four hours, and operates 24/7; no proprietary AI, ML, or data flywheel capabilities are disclosed. Pricing is quote-based and not publicly disclosed, and the platform supports a self-service motion in addition to a dedicated SME and Corporate sales function with CII-certified specialists.

AP Plus earns revenue through brokerage commissions on insurance policies placed with insurer partners, operating on a transaction-fee model. The go-to-market motion is sales-led and enterprise-field-sales driven, with multi-channel distribution including direct sales, in-person consultation, a 24/7 self-service website, toll-free phone lines, email, live chat, and a free community insurance clinic. The company is privately held, founder-led (Eng. Mohannad Eed as Founder/General Manager), with no disclosed institutional investors, funding rounds, M&A, or parent company structure.

Name

AP Plus

Legal name

Authorized Policy Insurance Brokers Ltd. (APPLUS)

Website

https://applus.com.sa

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

51–100 employees

Short description

AP Plus is a Saudi Arabia-based licensed insurance brokerage firm (founded 2004, IA-licensed 2010) that designs and places risk management solutions for SMEs and corporate clients across 20+ industries, operating from Jeddah and Riyadh with 100+ employees.

Ownership category

akta.pro rank

Product category

Insurance Brokerage Services

NAICS

Insurance Agencies and Brokerages (524210), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411), Fire, Marine & Casualty Insurance (6331)

akta.pro industry

PRIMARYFSAGAGAL

Embedded Insurance & Affinity Distribution Platforms

Financial & Insurance/Financial Technology (Fintech)/Insurtech Platforms (Digital Insurance Enablement)

SECONDARYFSAJAGAC

Professional Liability (E&O)

Financial & Insurance/Insurance — Motor, Property & Casualty/Specialty & Excess/Surplus Lines (E&S)

SECONDARYTHALALAA

Embedded Travel Insurance Distribution & APIs

Travel & Hospitality/Travel Technology & Distribution Services/Travel Insurance & Protection Technology (Embedded, Assistance Platforms)

Keywords

• Insurance brokerage
• Commercial insurance
• Risk management
• Insurance consulting
• Corporate insurance

Headquarters

HQ city

Jeddah

HQ country

Saudi Arabia

HQ region

Middle East

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Insurance Brokerage Commissions: AP Plus operates as an insurance intermediary/broker, displaying and presenting insurance products from insurers licensed by the Insurance Authority. The company earns commissions from insurance carriers for placing business. The website displays product prices allowing customers to choose desired coverage, and books quotations for four hours until payment is completed. Revenue is generated through brokerage commissions on insurance policies placed with insurer partners.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

AP Plus is an insurance brokerage firm that distributes insurance products from Insurance Authority-licensed insurers across multiple categories including Property, Engineering, Marine, Motor, Health/Protection, and General Accident lines. The company serves SMEs and corporate clients in Saudi Arabia through direct consultation, an online quotation platform, and structured risk management programs, earning revenue through brokerage commissions.

Product overview

AP Plus is a Saudi-based insurance brokerage firm offering a comprehensive portfolio of insurance products and risk management solutions. The company operates as a licensed insurance broker (authorized by the Insurance Authority since 2010) serving corporate clients and SMEs across Saudi Arabia. The product portfolio spans multiple insurance categories including Property Insurance (Business Interruption, Fire and Allied Perils, Machinery Breakdown, Property All Risk, Sabotage/Terrorism), Engineering Insurance (Contractors All Risk, Contractors Plant and Machinery, Electronics Equipment, Erection All Risk, Inherent Defects Liability), General Accident Insurance (Comprehensive General Liability, Cyber Security, Deterioration of Stocks, Environmental Liability, Event Liability, Fidelity Guarantee, Medical Malpractice, Money Insurance, Personal Accident, Professional Indemnity, Trade Credit, Travel Insurance, Workmen's Compensation), Health/Protection Insurance (Group Health, Group Life, Group Credit Life), Marine Insurance (Marine Cargo, Marine Hull, Pleasure Boats), Motor Insurance (Comprehensive and Third Party Liability), and Miscellaneous Insurance (Aviation, Energy, Forestry, Livestock). AP Plus also offers structured risk management programs (Packages A, B, and C) and an industry risk assessment tool to help clients identify appropriate coverage.

Differentiator

Problem solved

Functional benefit

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Lockton: Lockton is the world's largest independent insurance broker with MENA operations. It serves corporate and mid-market clients with multi-line property, casualty, and specialty placements, directly comparable to AP Plus's corporate division in both target customer and product offering.
• Howden: Howden is a London-headquartered international insurance broker that has aggressively expanded across the MENA region through acquisitions. It is a direct competitor to AP Plus in the Saudi insurance brokerage market, placing multi-line commercial risks for SMEs and corporates through local offices.

Broad incumbents

• Willis Towers Watson (WTW): WTW is a global advisory and insurance broker with established Middle East operations. It places the same multi-line commercial insurance products as AP Plus and competes for Saudi enterprise clients, though its value proposition extends to broader consulting, actuarial, and benefits services.
• Aon: Aon is a global professional services firm with a major insurance brokerage arm and substantial Middle East operations. It serves large Saudi corporates with multi-line placements and risk advisory, directly overlapping with AP Plus's corporate division offerings but at significantly larger scale.
• Marsh: Marsh is the world's largest insurance broker and risk advisor, with a significant Middle East and Saudi Arabia presence. It competes with AP Plus for large corporate accounts in Saudi Arabia, offering a much broader suite of services (risk consulting, captive management, claims analytics) but is headquartered globally rather than locally.
• Arthur J. Gallagher (AJG): Gallagher is a global insurance brokerage and risk management firm with growing Middle East operations. It places multi-line commercial insurance for corporate and SME clients, overlapping with AP Plus's service model and target customer segments in Saudi Arabia.

Regional players

• Al Etihad Cooperative Insurance: Al Etihad Cooperative Insurance is a Saudi-listed insurance carrier operating in the Saudi market. While not a broker like AP Plus, it competes for the same Saudi corporate insurance spend as both an underwriter and increasingly as a direct distributor of its own products.

Market position

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/ap-plus

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AP Plus