Najm for Insurance Services participated in the recent SAS Global Forum 2019, an international platform showcasing the latest technologies from the artificial intelligence (AI) sector, including technologies used to uncover and detect fraud.
The event took place between Oct. 21 and 23rd in Milan, Italy. It was organized by SAS, a leading global entity in the field of business intelligence and AI analysis, and the largest global independent source for data analysis software and services.
Najm’s participation in this event comes alongside some of the world’s leading technology and AI companies from around the world, highlighting its keenness to be present at 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 provided 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.
4,500 - fraud cases valued at around SR47.8 million were detected by Najm through a vigorous plan it developed to combat fraud.
Najm’s CEO Dr. Mohammad Al-Suliman, who attended the event, reiterated the significance of Najm’s partnership with SAS, which he said had resulted in improved levels of fraud detection and faster claim responses, alongside enhanced awareness that aims 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 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 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.