Najm and Elm Forge Data Exchange Alliance to Drive Insurance Tech Forward

Malaz Madani

Last updated 22-09-2025

3 min

Najm for Insurance Services and Elm Company signed a deal to enhance Saudi Arabia's insurance sector.

This partnership aims to improve service quality through better data exchange and technology services.

Both companies will collaborate on securing data and developing digital systems to benefit customers.

The agreement aligns with Saudi Arabia’s Vision 2030 for digital transformation and infrastructure security.

By formalising a roadmap, the partnership aims to address trust issues in data handling.

Najm for Insurance Services has inked a cooperation deal with Elm Company during the Money20/20 Middle East conference in Riyadh, which wrapped up on 17 September. The partnership is designed to create a clear legal framework between the two firms around data exchange and technology services, with the end goal of improving service quality for insurance beneficiaries.

The contract was officially signed by Abdullah Abdulrahman Al‑Khalaf, Acting CEO of Najm, together with Mohammed Abdulaziz Al‑Omayer, CEO of Elm. The ceremony also saw the attendance of Mohammed Al‑Mazroua, who heads up Insurance Services Supervision at the Insurance Authority.

At its core, the agreement touches on more than just paperwork. Both organisations are set to collaborate on processing, sharing and protecting data, alongside developing and securing digital systems. Regular consultations are also expected to keep things on track, with each side exploring better ways to execute projects and strengthen cooperation in fields they both care about.

Speaking on the sidelines of the signing, Al‑Khalaf explained that the partnership is in line with Najm’s push towards digital transformation in Saudi Arabia’s insurance sector. He stressed that linking up with Elm should help deliver tech‑driven solutions that protect sensitive data while raising efficiency levels, ultimately benefitting customers. He also tied the deal firmly to the ambitions of Vision 2030, describing it as a step towards “an advanced and secure digital infrastructure for the insurance sector.”

Now, to put it bluntly, agreements like these can sometimes turn into a bit of a faff if they stay only on paper. But from what’s been laid out, there seems to be a genuine intention to get things moving. I reckon it’s spot on timing too—Saudi’s insurance players have been talking for years about upping their digital game, so seeing two established names formalise a roadmap feels more tangible than past chatter.

At Arageek, we often hear founders say their biggest headache is around trust when it comes to data handling. And believe it or not, I once sat in on a workshop where a startup founder shared how a single slip in data exchange cost him both a client and several sleepless nights. Deals like Najm and Elm’s could make such nightmares less likely in future.

That said, the proof will come once systems actually talk to each other without delays or breakdowns. For customers and startups eyeing partnerships with insurance providers, smoother digital pipes could definately make all the difference.

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