Riyadh, KSA: In a display of its commitment to world-class excellence, Najm for insurance services took part in the third edition of the Insuretek Middle East 2021 conference held on Wednesday June 9, 2021 at the Dusit Thani hotel, in Dubai. Earning one of the Golden Shield Excellence Awards in insurance for 2021, Najm was granted the “Leading Claims Manager of the Year” award.
Discussing the company’s strategy and pivotal role in leading the development of insurance services in the Kingdom through a digitally-integrated system, Najm’s CEO Dr. Mohammad AlSuliman delivered a thorough formal presentation under the topic “Tapping Digital Opportunities for a Future-ready Insurance.” He further indicated that “in cooperation with the insurance ecosystem, Najm pursued a new strategy that led the auto insurance sector in the Kingdom to blaze a trail in the industry, ensuring that all stakeholders equally benefit through a neutral and non-discriminatory approach. Being supervised and supported by the Saudi Central Bank (SAMA) and in constant coordination with General Department of Traffic, the strategy entailed integrating automation and AI and adopting big data analysis technologies which boosted the quality of insurance data and its accuracy. Aligning with Saudi Vision 2030, Najm is keeping pace with the Kingdom’s wide-scale digital transformation after launching its strategy BASE which is aimed to enhance the sector’s performance levels and its services. As it rests on two major pillars, BASE covers, first, fixing and building the foundations by improving business performance and, second, growing the core to streamline the customer experience.”
With reference to the cutting-edge Telematics technology, Dr. AlSuliman explained how the company will soon acquire such capabilities to exchange, store and process data through Telematics devices in an initiative that will immensely contribute to Najm’s complete digital transformation and automating all its services by relying on big data. As for Najm’s anti-fraud efforts, he pointed out that Najm has made a tremendous contribution to mitigating insurance fraud over the past period and reducing fraud cases significantly, uncovering numerous confirmed cases worth more than SAR 82 million. He then reiterated that “development covered field system services and advanced methods of responding to the customers’ claims. Some of the top solutions provided by the company for this purpose is Najm App that considerably elevated the quality of service for customers, particularly in terms of response time, in addition to the new IVR service which offers advanced call services, and automating more than 95% of the services through the company’s digital platforms, delivering an array of products and services such as forwarding the data of insurance documents to the National Information Center (NIC), providing online discounts based on the customer’s insurance record, and receiving claims digitally. Such developments have coincided with a complete transformation in insurance services, changing the approach of gaining revenues from traffic accidents and their percentages to the extent of traffic and general safety that insurance can uphold. In other words, as the rate of adherence to the insurance document rises, revenues continue to grow and at the same time insurance costs drop overall.
Notably, being the MENA region’s leading international event dedicated to addressing the most prominent issues in the insurance industry, the Insuretek Middle East 2021 conference provides insight into the field through high quality research and generates practical far-reaching plans. The event also offers the ideal meeting place to exchange information, learn about the various aspects of collaboration and come across opportunities enabling commercial growth.
© Press Release 2021
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.