Najm launches first unified database for motor insurance information in Kingdom

Najm Insurance Services, the leading traffic support service provider in Saudi Arabia, has launched the "Insurance record" service, which has been established as a dedicated source of comprehensive information related to insured individual vehicles.

The Insurance record retains information related to insured vehicles, valid and expired insurance policies, third party claims registered under the same policies, as well as information on vehicle claims that have been settled, rejected or are under progress.

The objective of this service is to gather, conserve and exchange insurance information necessary to increase the capabilities of insurance and reinsurance companies in the Kingdom in analyzing risks associated with motor insurance, maintaining information confidentiality, increasing the quality of insurance information, as well as minimizing the potential of motor insurance fraud.

Fahad Bin Ibrahim Al-Akeel , chief executive officer of Najm, explained that this information has been gathered with accuracy, and maintained in the Comprehensive Auto-Insurance Management Solutions (CAMS), developed by Najm to serve as a database for all motor insurance information in accordance with the rules on Collection & Exchange of Motor Insurance Information by the Saudi Arabian Monetary Agency.

He added: Najm is actively investing in advanced techniques and technologies that will enable it to effectively develop and deliver the kingdom's insurance systems, to meet the needs of its users, in line with its vision to upgrade the standards of traffic management support services, and enhance the traffic safety”.

Najm Company was established in 2007 in support of the development of the vehicle insurance industry in the Kingdom of Saudi Arabia, in accordance with the joint cooperation between the Saudi Arabian Monetary Agency and the General Directorate of Traffic in connection with traffic accidents and related insurance services.