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August 27, 2020

Oman Insurance rolls out new automated motor claims system

By Verdict Staff

Oman Insurance Company, in line with its ‘customer first’ strategy, has launched an automated motor claims system that is said to cut down the claim process time by 50%.

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Gain valuable insight on the Motor Insurance industry outlook for Asia Pacific

Asia-Pacific was the fastest-growing region globally during the review period (2016-2020), recording growth at a CAGR of 2.7%. China was the market leader, accounting for 52.9% of the region’s motor insurance premiums in 2020. To help you make the most of this significant growth, GlobalData’s has put together a comprehensive overview of the Asia Pacific motor insurance industry, including market sizing and forecasts. Read ‘Motor Insurance Industry Outlook in Asia Pacific’ for:
  • Analysis of leading insurers in the region
  • Details on regulatory requirements, including licensing rules, capital requirements, taxation regimes, and ownership quotas
  • Analysis of the impact of COVID-19 on the industry
  • Insight into key trends, technology developments, and potential disruptors in the motor insurance industry
  • Recent M&A activity in the motor insurance industry
Improve your business strategy with our extensive report. Download it for free, now.
by GlobalData
Enter your details here to receive your free Report.

The company is said to be the region’s first to offer First Notification of Loss to its customers directly at the garage, eliminating the need for manual intervention by its staff.

This will result in reduced approval time and the approval of a number of repairs in a few hours.

It will provide the surveyors with the digital capability to grant approvals faster as the entire claim-related information is available on the cloud.

The customers will receive automated SMS notifications throughout the process, which will keep them updated about each step till they receive the vehicle.

Furthermore, the new automated motor claims system requires little to no paperwork, doing away with over one million print outs annually.

Oman Insurance Company CEO Jean-Louis Laurent Josi said: “This key initiative is part of our digital transformation strategy whose objective is to provide our customers with simple, fast and transparent processes and deliver them a remarkable experience.

“Our ultimate aim is to become the reference in the region for exceptional customer service and the only way to achieve that is to keep customers at the heart of everything we do. Our customer satisfaction index at mid- year shows that we have 87% of satisfied and very satisfied customers reflecting the continuous improvements at Oman Insurance.”

The launch of the automated motor claims system follows a series of digital initiatives by Oman Insurance this year. This includes a real-time motor insurance purchase portal and a corporate website.

Last year, Oman Insurance partnered with Generali Global Pension to offer a group savings and retirement insurance plan to companies and their employees in the UAE.

 

Free Report
img

Gain valuable insight on the Motor Insurance industry outlook for Asia Pacific

Asia-Pacific was the fastest-growing region globally during the review period (2016-2020), recording growth at a CAGR of 2.7%. China was the market leader, accounting for 52.9% of the region’s motor insurance premiums in 2020. To help you make the most of this significant growth, GlobalData’s has put together a comprehensive overview of the Asia Pacific motor insurance industry, including market sizing and forecasts. Read ‘Motor Insurance Industry Outlook in Asia Pacific’ for:
  • Analysis of leading insurers in the region
  • Details on regulatory requirements, including licensing rules, capital requirements, taxation regimes, and ownership quotas
  • Analysis of the impact of COVID-19 on the industry
  • Insight into key trends, technology developments, and potential disruptors in the motor insurance industry
  • Recent M&A activity in the motor insurance industry
Improve your business strategy with our extensive report. Download it for free, now.
by GlobalData
Enter your details here to receive your free Report.

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