Latest news with #NewAgeBankingSummit
Zawya
3 days ago
- Business
- Zawya
Liva Insurance sets new benchmark with ‘Innovative Insurer of the Year' Award at the New Age Banking Summit 2025
Muscat – Recognized for reshaping the future of insurance in the Sultanate of Oman through bold innovation and digital excellence, Liva Insurance was crowned 'Innovative Insurer of the Year' at the New Age Banking Summit 2025 – affirming the brand's leadership in transforming Oman's insurance sector for the modern era. Celebrating its milestone 10th edition, the New Age Banking Summit has solidified its position as Oman's premier platform for banking, insurance and financial innovation. Held under the esteemed patronage of His Excellency Ahmed Al Musalmi, Governor of the Central Bank of Oman, this year's summit brought together an influential cross-section of industry leaders, regulators, fintech pioneers, and technology experts. The event was anchored around two key themes – 'Navigating the New Era of Banking, Payments, and Customer-Centricity' and 'Innovating Financial Horizons: AI, Digital Transformation, and Beyond'. The summit served as a dynamic forum for strategic dialogue, where panel discussions and thought-leadership sessions explored how financial institutions are adapting to a rapidly shifting landscape. Topics such as artificial intelligence (AI) and machine learning, digital transformation, cybersecurity, ESG integration, InsurTech, and changing consumer behavior took CenterStage – all of which are areas that closely align with Liva Insurance's strategic goals and vision for the future. These focal points also resonate deeply with the brand's commitment to innovation and modernization – and several of these initiatives are already well underway. For instance, Liva Insurance was the first insurer to successfully integrate with Dhamani through the FSA's regulatory sandbox in December 2023. Since then, the company has processed more than 1.2 million electronic transactions, responded to over 765,000 eligibility requests, delivered upwards of 333,000 approval responses, and received more than 150,000 electronic claims, including a peak of over 21,000 transactions in a single day. These achievements reflect a tangible transformation in healthcare delivery, creating a smarter, faster, and more transparent experience for citizens and residents across Oman. Liva Insurance's Transformation Director – Khalid Al Zadjali said: 'Receiving the 'Innovative Insurer of the Year' award is a proud milestone for our team and a reflection of our unwavering commitment to innovation and customer-centricity. Our digital transformation journey is closely aligned with the broader goals of Oman Vision 2040, as we strive to support the nation's economic diversification and technological advancement. 'We are dedicated to delivering smarter, seamless insurance experiences that are future-ready to enhance the financial ecosystem in Oman. This recognition inspires us to continue leading with vision, agility, and a strong sense of responsibility to our community and country.' The honours came as part of the Oman Banking & Finance Awards at the flagship event, which formed a key highlight of the summit. Spanning banks, insurance providers, investment firms, and fintech providers, the awards recognised 27 high-performing institutions that have demonstrated innovation, resilience, and strategic excellence over a four-year review period from 2021 to 2024. About Liva Insurance: Established in 2023 through the integration of Al Ahlia Insurance and National Life & General Insurance Company (NLGIC), Liva Insurance is the region's leading multi-line insurance company that provides Motor, Home, Travel, Health, Life and various business insurances serving the GCC region for over 80 years. Liva Insurance is redefining insurance for today's realities, combining local knowledge, passion and presence with global expertise to go beyond premiums, products and policies, providing smart, quick and reliable solutions.
Zawya
3 days ago
- Business
- Zawya
Bank Nizwa honored as Islamic Bank of the Year and Best Mid-size Bank at New Age Banking Summit
1 June, Muscat: Demonstrating its relentless pursuit of excellence, Bank Nizwa, the leading and most trusted Islamic bank in the Sultanate of Oman, secured two prestigious accolades at the 10th Edition of the New Age Banking Summit – 'Best Islamic Digital Bank in Oman' and 'Best Bank – Mid-size Banks Category'. The distinguished event, themed 'Banking Beyond Boundaries: Redefining Innovation and Sustainability,' was held under the auspices of His Excellency Ahmed Al Musalmi, Governor, Central Bank of Oman. Drawing an elite assembly of senior banking executives, industry experts, influential policymakers, and fintech specialists, the summit provided an exclusive platform characterized by high-caliber discussions and premium networking opportunities. The awards were received by Mr. Mujahid Al Zadjali, GM - IT at Bank Nizwa on behalf of the bank. Mr. Mujahid Al Zadjali, engaged in an insightful panel discussion titled 'The Future of Banking: Navigating Disruption, Sustainability & Customer-Centric Innovation' that explored strategic avenues around fintech integration, digital transformation, open banking frameworks, advanced payment solutions enabling real-time, cross-border, multi-currency transactions, and the deployment of advanced technologies such as blockchain and AI. Highlighting the significance of the bank's participation and achievements, Mr. Mujahid Al Zadjali, remarked, 'Consistent participation in esteemed thought leadership forums such as the New Age Banking Summit reflects Bank Nizwa's enduring commitment to shaping the future of banking through purposeful dialogue and forward-looking insight. By contributing to high-level panel discussions, the bank continues to play a vital role in driving conversations that matter—those that define progress, resilience, and a future-ready financial ecosystem in Oman. The prestigious awards, meanwhile, serve as a powerful affirmation of our strategic clarity and the trust and credibility we have built over the years.' As the largest conference of its kind for the banking and non-banking financial sector in Oman, the event brought together technology companies—underscoring its significance, influence, and scale. Within this dynamic setting, Bank Nizwa underscored its strategic commitment to harnessing innovation as a catalyst for elevating customer experience and operational efficiency. The bank advocates for aligning technological advancements with sustainable and customer-centric banking practices, viewing digital transformation as integral to its strategic growth. Moreover, the bank stressed the importance of collaborative ecosystems, advocating closer partnerships among financial institutions, regulators, and technology providers. The recognition received at the New Age Banking Summit further cements Bank Nizwa's status as a leading force within Oman's Islamic banking sector. These awards not only underscore the bank's strategic prowess and agility but also reinforce its dedication to driving meaningful innovation and fostering a resilient, sustainable financial landscape in the Sultanate.
