CRIF Jordan, Middle East Insurance Sign Agreement To Leverage Credit Inquiry Services
AMMAN, Nov. 1 (Petra) – CRIF Jordan and the Middle East Insurance Company signed a bilateral agreement on Sunday to integrate credit bureau inquiry services into the insurance sector, boosting underwriting efficiency, risk assessment precision, and data-driven decision-making.
The agreement was executed by Ahmad Amoudi, General Manager of CRIF Jordan, and Majid Smeirat, General Manager of Middle East Insurance Company.
Under the agreement, Middle East Insurance joins CRIF Jordan's network to leverage credit reports in assessing policyholder financial behavior and outstanding obligations, improving risk classification and decision quality. Concurrently, the insurer will feed CRIF Jordan with installment-based insurance policy data, adhering to legal and technical frameworks to enhance the comprehensiveness and accuracy of national credit records while maintaining data protection and information security standards.
Amoudi stated that the agreement marks a step forward in expanding credit bureau applications within the insurance industry, establishing a holistic profile of customer credit behavior to support advanced risk-modeling systems. He emphasized that digital data exchange adheres strictly to technical and regulatory guidelines to ensure confidentiality and data integrity.
Smeirat noted that the partnership aligns with the company's strategy to digitize core operations and adopt data-backed risk management models. Leveraging verified credit data and advanced analytics enables the insurer to optimize underwriting decisions, refine pricing mechanisms, and deliver flexible insurance solutions tailored to shifting market dynamics.
The agreement reflects a joint commitment to integrating digital financial infrastructure into insurance operations, reinforcing system-wide risk management capabilities and financial stability across the Kingdom's financial services landscape.
//Petra// AA
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