Latest news with #iCAS
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.
Zawya
20-02-2025
- Business
- Zawya
Takaful Oman Insurance opens new Sohar branch, expands digital services with intelligent claims Administration System iCAS
Muscat: Takaful Oman Insurance is advancing its leadership in Oman's insurance market by expanding its digital and physical presence. As part of its ongoing commitment to digital transformation, the company opened its new Sohar branch on January 20, 2025, while also enhancing its service offerings with the launch of the Intelligent Claims Administration System (iCAS). This new branch marks a strategic milestone in Takaful Oman Insurance's effort to provide a seamless blend of physical and digital services. The branch features a modern design and a spacious layout, providing customers with a comfortable environment to complete their insurance transactions. It includes dedicated sections for Takaful insurance products and a separate area for claims. The company's new, pioneering digital claims platform, iCAS, is designed to streamline the motor claims process with real-time updates, digital surveys, and automated payments. The opening ceremony was attended by prominent figures, including H.E. Sheikh Mohammed bin Abdullah Al Busaidi, Wali of Sohar; Ahmed bin Ali Al Maamari, Vice Executive President of the Financial Services Authority; and Ali bin Saif Al-Mani, Board Member of Takaful Oman Insurance. Additionally, community leaders from Sohar joined in celebrating the company's efforts to strengthen the insurance sector's development in the region. Speaking at the event, Mr. Neelmani Bhardwaj, CEO of Takaful Oman Insurance, stated, 'We are thrilled to open this branch in Sohar, which is an important region for us due to its growing economic influence.' He also added, 'Our digital services, like iCAS, are transforming the way we serve our customers. However, we understand that some may prefer to engage with us in person, which is why this branch is designed to bring the best of both worlds together. Whether customers visit us in person or interact with us online, they will experience the same high level of service, convenience, and efficiency.' He continued, 'The launch of this branch is part of our broader digital transformation strategy that aligns with the Financial Services Authority's national plan to modernize Oman's insurance sector. It reflects our commitment to providing faster, more secure, and accessible insurance solutions to customers across the Sultanate.' Takaful Oman Insurance remains dedicated to expanding its digital footprint while enhancing its physical presence to meet the evolving needs of its customers. Through the strategic combination of cutting-edge technology and a growing network of branches, the company is further reinforcing its leadership in the Omani insurance market.
