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UAE: OIC enhances online product offerings

Source: Middle East Insurance Review | Nov 2017

United Arab Emirates Life & Health

To make life insurance solutions conveniently available to people, Oman Insurance Company (OIC) recently launched online term insurance and critical illness plans – DigiTerm and DigiCi. The portal allows individuals to buy either one of the plans or a combination of both to get a comprehensive insurance cover. 
 
   The products have been designed in partnership with Swiss Re and can be accessed through the company’s website. Apart from them being available online, the plans offer the flexibility to select the levels of sum assured and policy term. With covers up to AED1 million (US$272,216), the company has pre-underwritten the products so customers only need to fill a simple online declaration and do not spend time and money to go for a medical test, which is compulsory in most life insurance plans.
 
   Mr Emmanuel Deschamps, Head of Life at OIC, said: “Our aim was to create a complete online experience for our clients and make life insurance covers readily available. With this launch, we have also become the first company in UAE to offer online products across all our business lines.”
 
   Mr Christos Adamantiadis, CEO of OIC said: “Strongly believing in the quality and value of our products, I was the first customer to buy the plan online. With simple steps and documentation process, I was insured in less than 10 minutes. I am sure buying a term or critical illness life insurance plan has never been so easy.
 
   “We have successfully added another feather in our cap of digital enhancements to improve customer experience. We will continue to strive for excellence and lead the market with ground breaking innovation.” M 
 
AED1 = US$0.27
 
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