Motory provides it with a tool for evaluating claims and detecting fraud

AXA Gulf: Proactive measures to reduce car insurance claims fraud

Officials of "AXA Gulf" and "Motori" during the signing of the initiative.

From the source

AXA Gulf Insurance Company, which was recently acquired by the Gulf Insurance Group (GIG), announced its plan to launch proactive services based on artificial intelligence, to reduce fraud, in cooperation with Motori Insurance Technology, in order to identify False auto insurance claims, detection, and risk determination for new customers.

risk ratio

"AXA Gulf" revealed that it is cooperating with "Motori", in a proactive initiative based in the UAE, that allows insurance companies to determine the proportion of risks associated with new customers in real time, including a comprehensive analysis of the claims history, vehicle value, and accident history, which helps "AXA Gulf" in Determining the percentage of risks, potential fraudsters, and false or out-of-true claims, especially that the value of false or fraudulent claims in the region amounts to millions of dollars.

scams

Chief Personal Insurance Line Officer at AXA Gulf, Frank Hamburger, said that insurance fraud is not a simple crime, as the costs associated with fraud fall on honest dealers, whose premiums go to cover the costs of claims.

Therefore, we feel it is our duty to do everything in our power to protect ourselves and our customers from these fraudsters who deliberately seek to exploit our service in an unfair manner.

He added, "We seek to take advantage of the technologies provided by Motori to take a stricter approach to facing fraud issues, support the efforts of law enforcement agencies, as well as ensure fair and affordable insurance premiums for customers."

digital services

For his part, the CEO of "Motori", Ahmed Issa, said that the company was established in "Masdar City", and it is one of the companies specialized in providing smart digital services to the insurance sector in the region.

He added, "We are pleased to enter into this strategic partnership with (AXA Gulf) to help it reduce potential fraud."

He continued, "Our proactive services, based on artificial intelligence, aim to help insurance companies develop a way to deal with this problem, using the latest technologies, which allows the provision of high-quality services to customers, and protects insurance companies from potential fraud."

evaluation tool

Motory will provide AXA Gulf with a risk assessment tool to help it assess claims and detect fraud by analyzing the vehicle's history inside and outside the country, as well as the driver and owner's accident history.

By using AXA Gulf’s artificial intelligence technology from Motory, you will be able to check the level of risk, through the vehicle’s “chassis” number, and the traffic code number, and you will receive a standard assessment on the level of risk, whether it is low, medium, high, or severe The risk, based on the available data about the vehicle and its owner.

The insurance company will also receive a scorecard indicating the level of risk, based on the details of the accident when submitting a claim.

It is noteworthy that “AXA Gulf” is part of the Gulf Insurance Group, which is one of the largest insurance networks in the Middle East and North Africa with companies in the UAE, Kuwait, Jordan, Bahrain, Egypt, Turkey, Algeria, Syria, Iraq, Lebanon and Saudi Arabia. Its reported consolidated assets were $2.66 billion as of June 30, 2021.

AXA Gulf has been present in the region for more than 70 years, employs more than 800 employees in 15 branches and retail stores in the region, and serves more than one million customers.

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