AXA Gulf Takes Proactive Actions To Limit Fraud Through Cooperation With Motori

AXA Gulf, recently acquired by GIG (Gulf Insurance Group), has announced a plan to launch proactive artificial intelligence-based services to limit fraud, in collaboration with MOTORI, to identify fraudulent car insurance claims and automatically calculate the risks for new customers.

AXA Gulf collaborated with MOTORI, an Insurtech company, on a new UAE-based initiative that allows insurers to rapidly identify the risk of new clients, including extensive analysis of their claims’ history, car values and accident history. This additional insight will allow AXA Gulf to identify potential fraudsters, as well as inflated or false car claims across the region, where insurance fraud is a multi-million-dollar concern.

And commenting on the new initiative, Franck Heimburger, Chief Personal Lines Officer at AXA Gulf said: “Insurance fraud is not a victimless crime. The costs associated with fraud are borne by honest customers whose premiums go towards meeting the costs of claims. We believe we should do everything we can to protect ourselves and our customers from those fraudsters who would deliberately and dishonestly seek to take advantage of the service we provide.  

“By embracing the technology available to us via MOTORI, we are taking a more aggressive approach to the issue of fraud, supporting the valuable work done by law enforcement and ensuring that customers’ premiums are fair and more affordable.”

MOTORI will provide AXA Gulf with a risk score, helping the insurer assess claims and detect fraud by analysing the vehicle’s history inside and outside the country and the owner’s and driver’s accident history.

AXA Gulf will use the MOTORI AI technology to determine the risk score for the vehicle chassis and Traffic Code Number (TCN), and will receive a score indicating whether the level of risk is low, medium, high or critical based on data about the car and its owner. Similarly, in the event of a claim, the insurer will receive a score reflecting the level of risk based on the accident specifics when filing the claim.

Ahmed Eissa, CEO of MOTORI, said: "MOTORI was established in Masdar City, UAE, and is one of the most innovative services providers of smart digital services for the region's insurance sector. We are pleased to have such a strategic partnership with AXA Gulf and to be given the opportunity to contribute to their services. We aim to help the motor insurance industry identify potential incidents of fraud with an innovative solution based on Artificial Intelligence. This will protect the insurance companies from any potential fraud and provide high quality of services to their customers.”