Spokesperson: Sebastian Fuchs
Title: Managing Director of Digital Products and Services at Auto Data Middle East
Company: AutoData Middle East

In the recent InsureTek KSA 2024 held in Riyadh, Sebastian Fuchs, Managing Director of Digital Products and Services at AutoData Middle East, shared expert insights on KSA’s growing automotive insurance market. Fuchs indicated the expected market size of the sector to reach $3.14 billion in 2024. Fuchs emphasised the sector’s compound annual growth rate (CAGR) is anticipated to rise by 1.56%, showcasing the substantial potential for insurance companies in the Kingdom.

Fuchs discussed key factors impacting KSA’s sector, including determining price points and attaining a better understanding of vehicle history. The leading automotive data solutions provider’s innovative solutions address these market concerns and have augmented operations for multiple industry players in KSA. He demonstrated how the integration of AutoData services leads to streamlined operational efficiencies, potentially resulting in millions of SAR for insurance companies. 

With the average spend per capita in KSA’s motor vehicle insurance sector estimated at $83.67 for 2024; Fuchs addressed the challenges of AI integration, and showcased the AI benefits that will disrupt the sector in the near future. These include improved valuation accuracy and real time pricing. He explained that achieving substantial improvements requires more than just connecting existing tools. It involves hard work and continuous learning to avoid common pitfalls such as AI hallucinations or misinterpretation of trends.

Furthermore, AutoData Middle East recently launched VehicleReport.me, a new product that supports buyers and sellers navigate market uncertainties through transparency and confidence, making well-informed decisions. The company is seeking partners in the banking, insurance aggregation, and pre-purchase inspection sectors to collaborate and offer this innovative tool in KSA.

AutoData Middle East offers a comprehensive suite of B2B and B2C services including insurance advising, financing, buy and trade-in price advising, buying and selling platform tools, and more. The automotive data solutions leader also attained the ‘AI-based Estimating Solutions Provider Award’ at the InsureTek Golden Shield Excellence Awards 2024.

“Saudi Arabia’s automotive market is on the cusp of significant growth. With the right tools and integration, we can support insurance companies optimise operations and provide better services to consumers. AutoData Middle East is committed to bridging the market gap with our innovative solutions and supporting the industry in realising its full potential,” concludes, Sebastian Fuchs, Managing Director of Digital Products and Services at AutoData Middle East. 

For further information on buying and selling vehicles with confidence, please visit AutoData Middle East’s innovative Vehicle Report platform: www.vehiclereport.me

-ENDS-

About Sebastian Fuchs

Sebastian Fuchs is the Managing Director of Digital Products and Services at Auto Data Middle East, driving strategic initiatives for multi-million-dollar growth across the GCC region and North America. With a focus on customer-centric strategies and technology integration, he oversees organisational expansion and improves financial performance.

Fuchs pioneers technological advancements like augmented reality and leads GulfCars.ae to revolutionise the automotive retail landscape. Leveraging over two decades of experience, he played a pivotal role in Auto Data Middle East’s expansion across the UAE, KSA, and Oman.

Before joining Auto Data Middle East, Fuchs led successful digital initiatives at Manheim and RMS Continental Europe – Cox Automotive, notably launching Manheim Express in Germany. With extensive expertise across strategic leadership, sales and marketing, business development, risk management, technological advancements, ensuring customer satisfaction and driving innovative strategies for business growth. Fuchs has played an integral role in augmenting the European automotive sector with development and implementation of used car schemes, and OEM Used Car Schemes for renowned brands such as Jaguar Land Rover Germany, Hyundai Motor Europe, Volvo Car Group and Europcar International.

Committed to philanthropy, he supports children’s orphanages in Thailand. Fuchs holds academic credentials from the Graduate School of Business Administration Zurich and VWA Wiesbaden.

With a focus on solidifying Auto Data Middle East’s leadership in automotive data services, Fuchs remains dedicated to navigating the company towards international success in an evolving digital landscape.

About AutoData Middle East

AutoData Middle East, a subsidiary of World Automotive Group, is the leading automotive data solutions provider in the Gulf Cooperative Council (GCC) region. Headquartered in the UAE, AutoData ME is a pioneering force in automotive policy issuance and claims management and is dedicated to empowering professionals and facilitating informed decision-making. The leading automotive data solutions provider instils confidence in its partners and the automotive market, fostering trust through innovative solutions.

Launched in the region in 2010, and currently operating across the GCC, AutoData Middle East provides comprehensive vehicle history reports in the UAE, KSA, Kuwait, Oman, Qatar, and Bahrain. The company is part of the Skelmore Group, which boasts over 35 years of experience in the Middle Eastern and North American automotive business, positioning it as a leading provider of accurate and detailed vehicle information. AutoData Middle East offers a comprehensive suite of B2B and B2C services including insurance advising, financing, buy and trade-in price advising, buying and selling platform tools, and more, resulting in the leading automotive data solutions provider attaining the AI-based Estimating Solutions Provider Award at the InsureTek Golden Shield Excellence Awards 2024.

In May 2024, AutoData Middle East partnered with CARFAX, leveraging extensive data from over 100,000 sources across 22 markets in the US, Canada, and Europe. Driven by a commitment to excellence, its data-driven solutions empower confident decision-making in insurance pricing, vehicle transactions, and dealership operations, enhances transparency and confidence across the automotive landscape. Grounded in accountability, data-driven decision-making, and clarity of communication, the company continuously seeks to innovate and shape the future of mobility.

For further information on AutoData Middle East’s innovative automotive data solutions, please visit: www.autodatame.com 

Media Contact

Juman Alataki | juman.a@qcomms.ae
+971 58 873 0216