Gulf Insurance Group-Jordan has signed an agreement with credit information provider CRIF Jordan for credit inquiry services.
The aim is to expand the use of credit information and reports in the insurance sector, and enhance the insurer’s ability to assess customers, manage risks and make decisions based on reliable data, reported Petra News Agency.
The agreement reflects efforts led by the Central Bank of Jordan, in cooperation with the Jordan Insurance Federation, to develop the regulatory and digital environment for the insurance sector, enhance its integration with the national credit information system, and expand the use of data in risk assessment and the development of insurance services.
The credit inquiry services support assessment processes, improve the ability to determine risk levels, and raise the quality of the insurance company’s credit decisions.
CRIF Jordan’s General Manager Dr Ahmed Amoudi, speaking at the agreement signing ceremony, said that integrating insurance companies into the credit information system contributes to building a more integrated picture of customers’ financial behaviour and supports the development of more accurate risk assessment models.
CRIF Jordan was established to provide credit information services in Jordan. It received a licence from the central bank to launch its operations in 2015.