Najm for Insurance Services plans to sign deals with insurance firms to be included in its anti-fraud program during Q1 2020, Al-Eqtisadiah reported, citing CEO Mohammed Alsuliman.
The firm will be financially compensated for the program, as it aims to restructure income in order to contribute to fighting fraud.
Such cooperation previously existed on an unofficial level, but a legal framework will be set to support and develop the initiative which aims to benefit the insurance sector, he said.
In July, Alsuliman said that his company has suspected 26,000 fraud cases worth SAR 245 million since 2017. The total of 4,000 cases worth over SAR 40 million were proved.
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