Closing the Policy Cleanly: How AI Supports Cancellations and Premium Refunds for GCC Insurers

A cancellation ends a contract and returns the customer's unearned premium — and the amount depends on who cancelled, why, and the basis in the wording. This article shows how OCR/IDP, RAG and agentic AI help GCC insurers process cancellations consistently and calculate refunds correctly on the policy's own terms: applying the right basis, showing the working, and closing downstream obligations — while people authorise every cancellation and every refund.

This InsurTech Gulf article discusses insurance technology, underwriting operations, and market developments relevant to insurers and brokers in KSA, the wider GCC, MENA, and international markets. It is part of the site's ongoing coverage of underwriting automation, digital insurance workflows, and practical implementation trends in insurance software.