Latest news with #SulaimanHamedAlHarthi
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.
Mid East Info
11-02-2025
- Business
- Mid East Info
Oman Arab Bank Launches a New Suite of Digital Commercial Banking Service - Middle East Business News and Information
Muscat: As part of its ongoing efforts to lead the banking sector, Oman Arab Bank (OAB) unveiled a new suite of banking e-services for small and medium enterprises (SMEs), corporate clients and government entities on Sunday, February 9. The launch took place at a special event hosted by the bank under the patronage of H.E. Dr. Said bin Mohammed bin Ahmed Al-Saqri, Minister of Economy, with the presence of more than 800 bank clients and high-profile guests. The newly introduced digital commercial banking solutions from OAB provide businesses with seamless, real-time access to their financial transactions, enabling them to process payments, authorise transactions and manage payroll efficiently. The new e-services include: 1. Mobile Commercial Banking Application: o This will allow the bank's valued customers to manage their banking accounts and conduct business transactions such as payments, payroll and transaction approvals at any time and from any location. 2. Host-to-Host Payment Solutions: o A direct connection system linking the clients' systems with the bank's payment system, incorporating the latest developments in this field, significantly saving time and effort while reducing banking transaction costs. 3. Global 'SWIFTNet' System: o A global system that offers simplified connectivity for securely, quickly and efficiently transferring messages and financial transactions from the client to the bank. By leveraging these advanced technologies, OAB empowers businesses with greater financial control, operational efficiency and a future-ready digital banking experience. Speaking about the bank's vision for innovation in banking solutions, Sulaiman Hamed Al Harthi, CEO of Oman Arab Bank, stated, 'In light of the rapid technological developments in banking, Oman Arab Bank continues its diligent efforts to adopt and localise the latest technologies, exploring the best digital solutions and utilising them. Its focus is serving the nation and supporting its development journey, setting an example of excellence and leadership in the banking sector. From this perspective, we have been eager to provide innovative banking services that cater to the needs of various sectors, beginning with micro-enterprises and progressing to small and medium-sized enterprises, which form the backbone of the national economy and are an essential part of the vital resources in advancing this generous nation and extending to large companies and public and private institutions that play a role in driving development.' Meanwhile, Sulaiman Ali Al Hinai, Chief Wholesale Banking Officer, commented, 'These solutions have been meticulously designed following comprehensive studies to offer you the highest levels of security, flexibility and ease in managing your businesses, thereby enhancing your capacity to grow and evolve in a world facing shifts in needs and accelerating challenges. The launch of these solutions reaffirms our continued leadership in digital commercial banking services, where we do not merely keep pace with trends but consistently strive to be at the forefront of innovation, elevating the standards in delivering this type of service and becoming the model to emulate and the reference point to acknowledge.' OAB is recognised for its strong commitment to leading the banking sector through ongoing investment in cutting-edge technology and efforts to meet and exceed customer expectations.
Zawya
11-02-2025
- Business
- Zawya
Oman Arab Bank launches a new suite of digital commercial banking services
Muscat: As part of its ongoing efforts to lead the banking sector, Oman Arab Bank (OAB) unveiled a new suite of banking e-services for small and medium enterprises (SMEs), corporate clients and government entities on Sunday, February 9. The launch took place at a special event hosted by the bank under the patronage of H.E. Dr. Said bin Mohammed bin Ahmed Al-Saqri, Minister of Economy, with the presence of more than 800 bank clients and high-profile guests. The newly introduced digital commercial banking solutions from OAB provide businesses with seamless, real-time access to their financial transactions, enabling them to process payments, authorise transactions and manage payroll efficiently. The new e-services include: Mobile Commercial Banking Application: This will allow the bank's valued customers to manage their banking accounts and conduct business transactions such as payments, payroll and transaction approvals at any time and from any location. Host-to-Host Payment Solutions: A direct connection system linking the clients' systems with the bank's payment system, incorporating the latest developments in this field, significantly saving time and effort while reducing banking transaction costs. Global "SWIFTNet" System: A global system that offers simplified connectivity for securely, quickly and efficiently transferring messages and financial transactions from the client to the bank. By leveraging these advanced technologies, OAB empowers businesses with greater financial control, operational efficiency and a future-ready digital banking experience. Speaking about the bank's vision for innovation in banking solutions, Sulaiman Hamed Al Harthi, CEO of Oman Arab Bank, stated, 'In light of the rapid technological developments in banking, Oman Arab Bank continues its diligent efforts to adopt and localise the latest technologies, exploring the best digital solutions and utilising them. Its focus is serving the nation and supporting its development journey, setting an example of excellence and leadership in the banking sector. From this perspective, we have been eager to provide innovative banking services that cater to the needs of various sectors, beginning with micro-enterprises and progressing to small and medium-sized enterprises, which form the backbone of the national economy and are an essential part of the vital resources in advancing this generous nation and extending to large companies and public and private institutions that play a role in driving development.' Meanwhile, Sulaiman Ali Al Hinai, Chief Wholesale Banking Officer, commented, "These solutions have been meticulously designed following comprehensive studies to offer you the highest levels of security, flexibility and ease in managing your businesses, thereby enhancing your capacity to grow and evolve in a world facing shifts in needs and accelerating challenges. The launch of these solutions reaffirms our continued leadership in digital commercial banking services, where we do not merely keep pace with trends but consistently strive to be at the forefront of innovation, elevating the standards in delivering this type of service and becoming the model to emulate and the reference point to acknowledge.' OAB is recognised for its strong commitment to leading the banking sector through ongoing investment in cutting-edge technology and efforts to meet and exceed customer expectations. For more information about the bank's products and services for individuals and businesses, please visit the official website:
