by: TN Media News Riyadh: Najm for Insurance Services recently hosted a workshop titled “Combating Insurance Fraud in the Motor Sector” on February 7th. This event, which took place at the Dana Rayhaan Hotel in Dammam, was held under the auspices of the Insurance Authority and in collaboration with the General Department of Traffic.
The workshop served as a platform to discuss strategies and initiatives aimed at combating fraud and illicit practices in the motor insurance sector. It highlighted the detrimental effects of fraud on the economy at large and emphasized the importance of addressing these issues for the benefit of all stakeholders.
Key topics addressed during the workshop included the identification of fraudulent activities, the impact of such activities on insurance companies and service providers, and the implementation of effective solutions to mitigate these risks. The participants engaged in a panel discussion focusing on the damages caused by fraudulent operations and explored various strategies to combat financial crimes effectively.
This workshop is part of a series of similar events planned by Najm across several cities in the Kingdom, including Riyadh and Jeddah, in collaboration with its strategic partners from the insurance industry. The initiative aligns with Najm’s overarching goal of combating fraud, a major challenge facing the Saudi insurance sector, and aims to raise awareness about its negative repercussions on customers, insurance companies, and service providers.
Mohammed Y. Al Shehri, CEO of Najm, highlighted the company’s commitment to supporting the Kingdom’s motor insurance sector. He emphasized the importance of integrity, credibility, and safety in the industry and reiterated Najm’s dedication to combatting fraud through various initiatives and services.
During the workshop, representatives from the Insurance Authority also emphasized the importance of cooperation among relevant authorities to combat fraud effectively. They highlighted the Insurance Authority’s efforts to develop advanced systems for detecting fraudulent activities and implementing solutions to protect the rights of policyholders and beneficiaries.
Overall, the workshop provided a valuable platform for industry leaders and experts to exchange knowledge and ideas, strengthen cooperation between regulatory authorities and the insurance sector, and advance efforts to combat fraud effectively in the Kingdom’s insurance industry.
