Najm upgrades its skills to detect insurance fraud

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Najm’s CEO Dr. Mohammad Al Suliman discusses the company’s role in Saudi Arabia’s insurance industry and the importance of adopting the latest artificial intelligence technologies at the SAS Global Forum 2019 in Milan, Italy.
Najm’s CEO Dr. Mohammad Al Suliman discusses the company’s role in Saudi Arabia’s insurance industry and the importance of adopting the latest artificial intelligence technologies at the SAS Global Forum 2019 in Milan, Italy.

RIYADH — Najm for Insurance Services has participated in the SAS Global Forum 2019, an international platform which showcased the latest technologies from the artificial intelligence sector, including technologies used to uncover and detect fraud, which was held last October 21-23 in Milan, Italy. The event is organized by SAS, a leading global entity in the field of business intelligence and artificial intelligence analysis, and the largest global independent source for data analysis software and services.

Najm’s participation in this remarkable event comes alongside some of the world’s leading technology and artificial intelligence companies from around the world, highlighting its keenness to be present at leading global events and activations to keep abreast of the latest technologies with the potential to enhance its digital capabilities and offerings and better serve its clients. Najm is particularly keen on enhancing its operational fraud detection and combat processes and promoting awareness regarding its risks.

The event also offered an opportunity for Najm to exchange knowledge with some of the world’s top innovative companies and service providers such as SAS, in addition to explore new best practices adopted in developed countries to further promote its cooperation efforts with such entities, similar to an earlier cooperation agreement signed with SAS aiming to benefit from its expertise in detecting and limiting fraud within insurance claims.

On this occasion, Najm’s CEO Dr. Mohammad Al Suliman, who attended the event, reiterated the significance of Najm’s partnership with SAS which had resulted in improved levels of fraud detection and faster claim responses, alongside enhanced awareness that aim to organize the submission of claims from clients by adopting a proactive approach and utilizing the latest data analysis technologies to detect and halt fraud attempts.

He added that SAS has achieved automation in defining patterns of insurance claims at Najm, complementing current manual procedures that seek to detect fraud cases through automatic behavioral responses and risk assessment activities.

Najm had developed a vigorous plan to detect and combat fraud, through which it was able to detect around 4,500 fraud cases valued at around SR47.8 million. Moreover, between the beginning of 2018 and up until August 2019, 24,000 cases were identified as suspected fraud cases. Najm combats fraud through an integrated team of well-trained staff members and is expected to complete its comprehensive anti-fraud system within the next two years. — SG


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