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Najm for Insurance Services took part in the Insuretek Middle East 2021 International Conference and Golden Shield Excellence Award ceremony held on June 9 at the Dusit Thani Dubai hotel, where it was presented with 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 Al-Suliman delivered a presentation under the topic “Tapping Digital Opportunities for a Future-Ready Insurance.”
“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,” he said.
“Being supervised and supported by the Saudi Central Bank and in constant coordination with the General Department of Traffic, the strategy entailed integrating automation and artificial intelligence, 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 aims at enhancing 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.”
Al-Suliman explained how the company will soon acquire capabilities to exchange, store and process data through telematics devices in an initiative that will contribute to Najm’s complete digital transformation and automate all its services by relying on big data.
Commenting on Najm’s anti-fraud efforts, he pointed out that the company 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 SR82 million ($22 million).
Al-Suliman said: “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 the Najm app that considerably elevated the quality of services for customers, particularly in terms of response time, in addition to the new IVR service, which offers advanced call services. Automating more than 95 percent of the services through the company’s digital platforms has resulted in delivering an array of products and services such as forwarding the data of insurance documents to the National Information Center, 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.”
Considered to be the MENA region’s leading international event dedicated to addressing prominent issues in the insurance industry, Insuretek Middle East 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.