Arab Reinsurance Company: a new dimension
Home   |   Sitemap   |   Contact us
Follow us on
Is Climate Litigation Covered by Insurance? - Social Inflation or Science: What Is Fueling Climate Litigation? - Fortegra Europe Opens Branch in Czech Republic - Vantage launches Construction and Political risk business - UK Insurers Cautiously Willing to Underwrite Fire Safety Risks - Insurtech Foxquilt Raises $8M to Expand Small Business Offering in U.S. and Canada - Speciality Re/Insurer Convex Launches European Subsidiary With A- Rating From S&P - Debt surge in emerging markets may hurt insurance outlook: Swiss Re - Zurich Insurance Weighs Selling Some Australian Non-Core Assets - Reinsurers Face Major Claims Uncertainties, but Reap Benefits of Pricing Tailwinds - Corvus, SiriusPoint announce investment & underwriting capacity partnership - Munich Re backs energy storage systems provider ESS - Climate Change Could Force 200 Million People to Leave Their Homes by 2050 - Work of the scientific community and re/insurers needed to assess climate change: Lloyd’s - Gallagher Re Touts Advanced Integrated Reinsurance Analytics Platform - London Financial Employees Return to Offices Despite Rising Virus Cases - P/C Reinsurers Maintain Underwriting Discipline, Despite Rising Capacity: Guy Carpenter - Britain Looks to Revisit Data Privacy Regulations - WTW, Applied Systems target real-time pricing enhancements - Reinsurance environment “most attractive in a decade”: SCOR’s Launay - Willis Towers Watson’s New CEO Says It Has $5 Billion for Possible Acquisitions - Lloyd’s Reports H1 2021 Profit of £1.4B ($1.9B), with 92.2% Combined Ratio - Global Reinsurers Shoulder ‘Considerable Burden’ of COVID-19 Claims - “Inflation is the enemy of the re/insurance industry,” says Swiss Re CFO Léger - Global Reinsurance Rates, Demand to Continue Rising in 2022: Moody’s - Prudential’s Michael Koller joins MS Amlin as Chief Risk Officer - Rates need to and will harden further: Swiss Re CEO Mumenthaler - Russia’s Renaissance Insurance Plans $1 Billion IPO in Moscow: Reuters
Search Search
World News & Events
Enlarge Font Minimize Font

KSA - TAQEEM, Najm launch electronic system for vehicles

Saturday, 03 28 2020, Category: Insurance and Reinsurance, Country: Saudi Arabia
The Saudi Authority for Accredited Valuers (TAQEEM) and its strategic partner Najm for Insurance Services have jointly launched the first phase of the “Taqdeer” system for electronically evaluating minor damages in 40 different cities throughout the Kingdom. The system will contribute toward shortening and facilitating procedures for vehicles involved in minor traffic accidents and completing all assessment processes directly at accident sites.

TAQEEM said the new initiative was launched in support of the Saudi government’s astute preventative measures to combat the novel coronavirus (COVID-19) outbreak through providing electronic services that enable the continuity of offerings to clients. It will enable clients to finalize assessment procedures at accident sites by allowing Najm’s traffic surveyors to upload images of minor accidents via TAQEEM and Najm’s electronic valuation system to be analyzed and valuated by “Taqdeer” through a team of qualified assessors who will analyze them and issue reports to parties involved, who will in turn be able to request appropriate financial compensation from insurance companies.

TAQEEM pointed out that vehicles with minor damages account for 60 percent of all vehicles arriving at Taqdeer centers, and involve all damages that do not negatively impact the vehicle's structure, fuel tank, sensors, or steering system, and can be assessed via images by a number of qualified assessors who can recommend befitting compensation to protect the rights of all involved parties.

The beta phase is managed and operated by Najm for Insurance Services who has partnered with Taqdeer as part of its strategy to develop convenient and world-class smart tool services to clients. Najm will also enable the electronic submission of financial compensation requests and the direct transfer of compensation funds to beneficiaries’ accounts, thus fully digitizing all assessment and compensation processes. Following the completion of this phase, the procedures will be expanded and offered via Taqdeer centers.

Taqdeer is an electronic platform launched jointly by the Saudi Arabian Monetary Fund, the General Department of Traffic, TAQEEM, and insurance companies represented by Najm for Insurance Services. It seeks to protect rights and assess vehicle damage at the highest standards to guarantee vehicle safety following repair, as well as provide top services to clients through gathering all relevant entities within a unified electronic system in what will shorten and simplify post-accident procedures based on world-class standards and by highly qualified professionals at specialized technical centers.

Source: Saudi Gazette
All copyrights reserved, Arab Reinsurance 2016 ©