Al-Rajhi Takaful expects higher motor policy sales, GWPs on automated detection of violations

09/07/2020 Argaam

Al-Rajhi Company for Cooperative Insurance (Al-Rajhi Takaful) said that motor insurance sales could rise after the General Department of Traffic (GDT) completed the automatic linking of motor insurance procedures in its records at the National Information Center.

 

The decision will have a positive impact on motor gross written premiums (GWPs), the company said in a bourse statement, adding that it is difficult at the meantime to determine the exact financial impact.

 

The move will result in the automated detection of vehicles with expired insurance policies starting from July 22, 2020, the statement added.

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