Showcasing its Innovative Digital Solutions and Ecosystem Najm Joins Global Insurance Fraud Summit

Najm for Insurance Services participated in the fourth Global Insurance Fraud Summit (GIFS), which took place on October 17 and 18, 2022, in Lisbon, Portugal.

Outlining its incremental contributions to the Saudi motor insurance sector, Najm’s participation in the GIFS highlights the company’s well-designed road safety initiatives and strategies, which have bolstered economic growth and prosperity, boosting Saudi citizens’ quality of life across the Kingdom.

During his participation in the panel sessions, Najm CEO, Dr. Mohammad AlSuliman presented a working paper titled: ‘How Najm leverages technology to highlight blind spots.” Al Suliman commended the company’s efforts in building a customer-focused approach and accelerating the insurance sector’s growth, demonstrating its commitment to leveraging digital technology and enhancing revenue streams and operational efficiency.

Al Suliman touched on Najm’s successful framework of initiatives and the role of its smart ecosystem in achieving the company’s anti-fraud objectives. He also emphasized the significance of the AI and data analytics adopted in accident investigations for effective fraud prevention. This includes the flagship body cam initiative for documenting accident procedures and supporting Liability Determination.

Demonstrating Najm’s commitment to combating insurance fraud, Al Suliman focused on the company’s distinctive digital solutions to transform fraud management through a compelling suite of services including Najm Repair Network, RASD service and Tahaqaq. Between 2017 and July 2022, Tahaqaq saved nearly SAR 106 million by detecting around 60,000 potential fraud cases valued at SAR 638 million, including 10,000 confirmed fraud claims. 

Held in cooperation with the International Association of Special Investigation Units (IASIU), the annual Global Insurance Fraud Summit brings together relevant parties and provides a platform for experts and specialists to discuss and share their professional expertise in combatting fraud.