Najm Organizes The Second Edition Of Anti-Insurance Fraud Workshop In Jeddah

Najm for insurance service has organized a workshop in Jeddah, on Thursday, March 7.2024 that sheds light on anti-fraud in the motor insurance sector. It was held under the sponsorship of the Insurance Authority and in cooperation with the General Traffic Department.

This workshop emphasized that fraud is one of the most important challenges facing the insurance industry in Saudi Arabia. It discussed the impact of fraud on insurance companies, customers, and service providers.

The workshop also sheds light on three bases that form the foundations of criminalizing insurance fraud in the Kingdom: the regularity base, the material base, and the moral base.

Additionally, this workshop comes as a continuation of the series of workshops organized by Najm on combating fraud in the vehicle insurance sector, with the first workshop being organized last February in Dammam. Najm also plans to hold many other workshops in the future in several regions across the Kingdom.

The main objective of holding these workshops is to raise societal awareness on fraud and financial crimes. They also contribute to enhancing the role of the media by raising awareness on the negative impact of the insurance fraud as well as highlighting its economic effects and developmental repercussions on society, in addition to unifying the efforts of the insurance sector, the General Traffic Department, and the concerned authorities to come up with solutions to control fraud.

Commenting on this initiative, the CEO of Najm, Mohammed Y. Al Shehri, said, “Despite the high confidence index in the Kingdom’s insurance sector, the insurance fraud is one of the main challenges facing the insurance industry not only in Saudi Arabia but also worldwide. Therefore, it is important to strengthen our efforts to combat the fraud and protect the rights of insurance companies and policyholders, promote fair practices, adopt a wise pricing mechanism that is compatible with risk levels, improve the quality of services and apply transparency standards.

We appreciate our partners’ efforts, including the Insurance Authority, the General Traffic Department, the Traffic Department in the Western Region, and insurance companies, for their effective participation in this workshop, and their distinguished role in promoting fair practices. At Najm, we seek to enhance our cooperation with the insurance companies to activate services that detect and combat fraud, such as Rasd and Tahaqaq Services,” he added.

Najm for insurance services is a closed and unlisted joint stock company established in 2007. It aims to promote the vehicle insurance sector and achieve road traffic safety in the Kingdom of Saudi Arabia. Najm offers an integrated system of insurance solutions and services to citizens, residents, and visitors in 44 cities around the Kingdom through a skilled Saudi workforce.