Middle East - Oman: Insurance association outlines 2016 plans
Source: Middle East Insurance Review | May 2016
The Oman Insurance Association (OIA) is keen to focus on insurance training, career growth, certifications and improved professionalism in the insurance sector to attract young and ambitious Omani talent.
Mr Nassir Bin Salim Al-Busaidi, Managing Director of Oman United Insurance Company, is the new Chairman of OIA. He said: “A new seven-member board has been elected and we are finalising the set of objectives that we hope to achieve during our two-year tenure. By regular consultations with the Capital Market Authority, the government and other stakeholders, we aim to improve the quality of insurance services in Oman to benefit consumers, improve professionalism, consistency and raise standards.”
The new board met for the first time on 3 April to decide on its agenda for the insurance sector of Oman for 2016.
OIA, whose mission is to “Underwrite Oman’s Progress”, is also keen to increase awareness of insurance by highlighting the role of insurance in the economy, available product offerings and benefits, and ways to improve customer experiences.
The Association’s co-Deputy Chairman, Mr Lloyd East of RSA Middle East, said that once the proposals have been finalised, consultations will be held with members to decide on an agenda.
Mr East said: “Since the formation of the Association, we have seen some improvement in the standardisation of the insurance network in Oman. The progress in the field of e-insurance, new regulatory changes, the new unified motor policy, etc, is extremely rewarding. We look forward to more years of good work and success. We are also looking at the professionalisation of the Association itself by setting up a permanent office and hiring resources to further achieve the goals of the Association.”