On Sunday, the Saudi Arabian car insurance entity Najm for Insurance Services signed an agreement to cooperate with Saeed, the traffic control firm based in the United Arab Emirates.
The agreement was signed in the presence of Dr Mohammad Al Suliman, the chairman of Najm for Insurance Services, and Saeed’s chairman Eng. Ibrahim Yousef Ramel at Riyadh’s Crowne Plaza hotel.
Various media personalities were also present at the signing.
The agreement intends to enhance quality of life with the improvement of procedures relating to accident management and the insurance services that accompany them.
The two entities will augment the exchange of skills and knowledge in a number of service areas.
The new agreement will also further the development of strategic plans, the construction of effective partnerships, the establishment of joint research and development attempts, and the pursuit of investment opportunities in the two nations.
Najm for Insurance Services has been a pioneer in the car insurance industry, contributing to the increased quality of offerings and helping customers to access services with the adoption of automation and a guarantee of transparency.
Al Suliman says that the agreement will be a starting point for the two countries to engage in more fruitful cooperation within the traffic systems sector.
Al Suliman adds that the work of Saeed complements that of Najm, which specialises in car insurance services, while Saeed has solid accident management expertise.
This has resulted in a chance for the two entities to achieve a beneficial exchange of knowledge and create a successful collaboration that will give extra value to the two nations’ insurance sectors.
Ramel says that he is delighted that the agreement has been signed, noting that it is a reiteration of the significance of integration to ensure customer satisfaction.
The agreement will also enhance both entities’ positions and increase their contribution to a quality of life improvement in the UAE and Saudi Arabia via the traffic systems sector, according to Ramel.
Ramel adds that cooperation between two entities that each has their own field of expertise will give both additional value and form a strong foundation for the building of a bright future.
The partnership will also help to achieve the development targets that have been outlined in both the UAE and Saudi Arabia’s astute visions.
Saeed is a national company of the UAE that was launched last year with guidance from His Highness Sheikh Saif bin Zayed.
The company provides innovative solutions in a number of traffic areas such as traffic services, inspections, smart systems and parking systems.
Najm for Insurance Services is a national company of Saudi Arabia launched 12 years ago back in 2007 following cooperation between the General Authority of Traffic and the Saudi Arabian Monetary Authority.
The aim of the company is the facilitation of road traffic activity and to support the Kingdom’s car insurance industry.
Car insurance is actually a legal obligation in the UAE.
Anyone who drives a motor vehicle needs to be covered by car insurance for the sake of their own financial safety.