SAS, the market leader in Analytics & Anti-fraud Technologies, and Najm for Insurance Services have announced a technology collaboration that will aim to bring SAS expertise to counter and reduce instances of fraud in Automobile and Motor insurance claims. Officials from both companies signed the agreement at a SAS event in Fairmont Riyadh on 18th September 2019.
With the goal of streamlining claims through application assessment and taking a proactive approach to detect & deter fraud in the business, Najm is looking to improve efficiency in fraud identification, fast claims resettlement as well as the development of better-quality alerts, by utilizing the latest analytics & fraud detection technologies. Utilizing Artificial Intelligence and Machine-Learning technologies, SAS will automate aspects of Najm’s claimant profiling, and will aim to complement existing manual processes to detect fraud claims through behavioral responses and automatically assess risk patterns.
During the event, Najm CEO, Dr. Alsuliman, spoke about the partnership with SAS and the company’s future plans. Other speakers at the event included Regional Director of SAS, Abed Hamandi, who delved deeper into the Najm project, and spotlighted the ways in which SAS can offer automation & analytics solution in the automotive insurance field, and Maher Ahmed, SAS Sr. Customer Advisory Manager who presented the cross-practice value of analytics and how SAS can offer solutions to multi-platform industries.
Dr. Mohammad Alsuliman, CEO of Najm said: “There was no doubt that AI and machine learning could provide the next wave of assurance against fraud and risk detection within our business, and we are happy to have partnered with the best in the business, SAS. Their understanding of our business, and clear view of trends that will impact, will enable us to focus on our core business while the SAS technology solution supports the team with critical insights, alerts, and updates.”
Alaa Youssef, Managing Director at, SAS Middle East, said: “Insurance is an industry that is significantly exposed to fraud and financial risk, yet does not receive as much attention as the banking sector. It is great to see that Najm is taking a strong stride towards business predictability and profitability, and we are pleased to play a role in their transition to a high-technology-enabled insurance service provider.”
Headquartered in KSA, Najm offers comprehensive insurance services plans to its customer base across Saudi Arabia. Their investment in technology, strategic partnerships, and innovation in anti-fraud project will see them emerging as a pioneer within their field. This technology will impact the dynamics of how claims are handled, while also ensuring customer and data security.