Latest news with #NeelmaniBhardwaj
Muscat Daily
26-02-2025
- Business
- Muscat Daily
Takaful Oman drives digital innovation in insurance
Muscat – In its continuous pursuit of leadership in Oman's insurance sector, Takaful Oman Insurance SAOG has launched its comprehensive digital transformation strategy to enhance efficiency, transparency and customer experience by leveraging the latest technologies. The strategy was unveiled during a press conference organized by the company to introduce its newly upgraded website and a suite of smart solutions aimed at streamlining policy issuance, claims processing and customer interactions, marking a significant advancement in the sector. With over 200,000 digitally issued policies since 2023 on its digital insurance platform and more than 1,000 claims processed since December 2024 on its digital claims platform, Takaful Oman continues to set new standards for speed, efficiency, and reliability. Its digital-first approach aligns with Oman Vision 2040, reinforcing its role in driving financial technology and national economic progress. As part of its commitment to ongoing innovation, the company is also implementing a next-generation ERP system to streamline financial operations and improve efficiency at scale. Additionally, by leveraging data-driven insights, Takaful Oman is working towards hyper-personalized insurance solutions that cater to individual customer needs, ensuring a tailored and seamless experience. The company is also developing a next-generation policy administration system for life and medical insurance, reinforcing its foundation for future growth. Commenting on these advancements, Mr. Sulaiman Hamed Al Harthi, Board Chairman of Takaful Oman Insurance SAOG, stated, 'Innovation is embedded in our approach. Our digital transformation is not just about operational improvements—it is about equipping our customers with secure, efficient and transparent insurance solutions tailored to their evolving needs thereby reshaping the industry and supporting Oman's transition to a knowledge-based digital economy.' Echoing this commitment, Mr. Neelmani Bhardwaj, Chief Executive Officer of Takaful Oman Insurance SAOG, added, 'Our digital transformation is a testament to our relentless focus on customer experience. We are building an ecosystem where ease of access and security are paramount. This evolution cements our leadership in digital insurance and underscores our drive to set new industry standards.' Takaful Oman's digital innovations include iCAS (Intelligent Claims Administration System), an integrated claims registration system that has significantly reduced claim processing time by over 50% and a live video streaming tool for vehicle inspections, eliminating the need for physical assessments while improving accuracy and reducing costs. The company has also introduced a state-of-the-art website and customer portal, enabling seamless policy purchases, renewals and real-time claims tracking. Furthermore, the Instant Policy Distribution System (IPDS) seamlessly integrates brokers, agents, and banks, enabling rapid policy issuance. Meanwhile, an AI-driven pre-policy digital inspection system ensures policy authenticity through real-time verification and automated damage detection, allowing policies to be issued in under 3 minutes. With an eye on the future, Takaful Oman continues to explore emerging technologies and innovative solutions that will redefine the insurance landscape. By staying ahead of industry trends and anticipating evolving customer needs, the company remains poised to drive meaningful change, ensuring that insurance in Oman remains agile, secure and customer-centric.
Mid East Info
25-02-2025
- Business
- Mid East Info
Takaful Oman Drives Digital Innovation in Insurance - Middle East Business News and Information
Muscat, 24 February 2025: In its continuous pursuit of leadership in Oman's insurance sector, Takaful Oman Insurance SAOG has launched its comprehensive digital transformation strategy to enhance efficiency, transparency and customer experience by leveraging the latest technologies. The strategy was unveiled during a press conference organized by the company to introduce its newly upgraded website and a suite of smart solutions aimed at streamlining policy issuance, claims processing and customer interactions, marking a significant advancement in the sector. With over 200,000 digitally issued policies since 2023 on its digital insurance platform and more than 1,000 claims processed since December 2024 on its digital claims platform, Takaful Oman continues to set new standards for speed, efficiency, and reliability. Its digital-first approach aligns with Oman Vision 2040, reinforcing its role in driving financial technology and national economic progress. As part of its commitment to ongoing innovation, the company is also implementing a next-generation ERP system to streamline financial operations and improve efficiency at scale. Additionally, by leveraging data-driven insights, Takaful Oman is working towards hyper-personalized insurance solutions that cater to individual customer needs, ensuring a tailored and seamless experience. The company is also developing a next-generation policy administration system for life and medical insurance, reinforcing its foundation for future growth. Commenting on these advancements, Mr. Sulaiman Hamed Al Harthi, Board Chairman of Takaful Oman Insurance SAOG, stated, 'Innovation is embedded in our approach. Our digital transformation is not just about operational improvements—it is about equipping our customers with secure, efficient and transparent insurance solutions tailored to their evolving needs thereby reshaping the industry and supporting Oman's transition to a knowledge-based digital economy.' Echoing this commitment, Mr. Neelmani Bhardwaj, Chief Executive Officer of Takaful Oman Insurance SAOG, added, 'Our digital transformation is a testament to our relentless focus on customer experience. We are building an ecosystem where ease of access and security are paramount. This evolution cements our leadership in digital insurance and underscores our drive to set new industry standards.' Takaful Oman's digital innovations include iCAS (Intelligent Claims Administration System), an integrated claims registration system that has significantly reduced claim processing time by over 50% and a live video streaming tool for vehicle inspections, eliminating the need for physical assessments while improving accuracy and reducing costs. The company has also introduced a state-of-the-art website and customer portal, enabling seamless policy purchases, renewals and real-time claims tracking. Furthermore, the Instant Policy Distribution System (IPDS) seamlessly integrates brokers, agents, and banks, enabling rapid policy issuance. Meanwhile, an AI-driven pre-policy digital inspection system ensures policy authenticity through real-time verification and automated damage detection, allowing policies to be issued in under 3 minutes. With an eye on the future, Takaful Oman continues to explore emerging technologies and innovative solutions that will redefine the insurance landscape. By staying ahead of industry trends and anticipating evolving customer needs, the company remains poised to drive meaningful change, ensuring that insurance in Oman remains agile, secure and customer-centric.
Yahoo
17-02-2025
- Business
- Yahoo
Takaful Oman Insurance, Oman Arab Bank seal bancassurance deal
Takaful Oman Insurance has entered a bancassurance partnership with Oman Arab Bank, according to a press release posted on Zawya. The alliance is set to be effective in the first quarter of 2025 (Q1 2025), with plans to introduce insurance products tailored to both individual and corporate clients. It will allow Oman Arab Bank customers to access Takaful Oman's insurance offerings through the bank's branches and digital platforms. This collaboration aims to improve customer access to integrated financial solutions by using the resources and expertise of both organisations. Takaful Oman Insurance CEO Neelmani Bhardwaj stated: 'This partnership with Oman Arab Bank reflects our shared commitment to serving the community with exceptional financial and insurance solutions. We aim to provide Oman Arab Bank's customers with products that align with their values while ensuring peace of mind and security for their families and businesses. Together, we aim to build a stronger, more inclusive financial ecosystem.' Oman Arab Bank retail banking deputy head Juma Al Fulaiti said: 'At Oman Arab Bank, we offer comprehensive financial solutions that empower our customers and contribute to Oman's economic progress. This partnership with Takaful Oman Insurance is a testament to our shared commitment to innovation, quality and customer-centric services.' Oman Arab Bank was set up in 1984 after acquiring all Arab Bank branches in the sultanate. In 2020, the bank acquired Alizz Islamic Bank (AIB) and merged its Islamic banking services with AIB. The same year, it became a publicly listed company on the Muscat Stock Exchange. Takaful provides a range of insurance products through multiple distribution channels, including crop, engineering, fire, health, liability, marine, motor and personal accident insurance. "Takaful Oman Insurance, Oman Arab Bank seal bancassurance deal " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
