News Middle East23 Jul 2020

Oman:1st online insurance aggregator platform started

23 Jul 2020

Oman's first online insurance aggregator platform, Bima, was launched formally earlier this week, allowing customers the option of comparing and choosing insurance services from a variety of insurers.

Mr Said bin Nasser Al Rashdi, founder of Insurance House, the owner and developer of the Bima platform, said, “We are starting off with a trial/soft operation for a few months. The platform is, however, ready to take on a large number of customers, with operations that extend till 12 midnight.”

According to a report in Muscat Daily, he said that motor and domestic worker plans have been introduced, with travel, property and term life insurance lined up to be included next.

Mr Al Rashidi added, “During the past four months, when we conducted the initial operation of the platform, Bima managed to issue thousands of insurance policies for vehicles online, easily and successfully, on behalf of five insurance companies – Arabia Falcon, Al Madina Takaful, New India Assurance, Oman Qatar and Oman United Insurance. In addition, we have recently signed up with three new companies to provide their services through the site in the near future.”

He added that the company worked hard with the insurance providers to provide an accurate premium calculation mechanism that takes into consideration a large number of factors, all calculated at the backend of the platform with instant results. “This allows consumers to enjoy a transparent experience to choose exactly what they need.”




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