Oman's first online platform to provide insurance services launched

Muscat: A press conference was held to announce the official launch of Oman's first online platform to provide insurance services. The name of this platform is 'Bima' and it can be reached by the URL. 

The platform allows the customers to insure their vehicles directly through the site by presenting them with various offers from multiple insurance companies, the offers are instant and visitors can proceed to pay within minutes. Bima also provides a practical comparison between the benefits of each insurance policy and makes the addition of extra coverage, such as extending the geographical area, easy and clear.

Regarding the subject, Eng. Said bin Nasser Al Rashdi, Founder of Insurance House, the owner and developer of the platform, said, “We are glad to launch “Bima” platform, a trial "soft" operation for a few months. “Bima” platform is now ready to take on a large number of customers, with operations that extend for the whole day till 12am.

The Covid-19 pandemic affecting the whole world increased the awareness about the benefits the online platforms provide, as not only it is safer to use, but faster and easier in most cases. Standing in line to get insurance for your car will be something of the past and forgotten within a couple of years.

Bima will expand to cover no automotive insurance on the platform, domestic workers coverage was already introduced last month, with travel, property and term life insurance lined up to be included next.

Al-Rashidi added. “During the past four months, during which we launched the initial operation of the platform, which coincided with the spread of Covid-19 pandemic, “Bima” platform managed to issue thousands of insurance policies for vehicles online easily and successfully around the clock on behalf of five insurance companies, Arabia Falcon, Al Madina Takaful, New India, Oman Qatar, and Oman United Insurance. Besides, we have recently signed up with three new companies to provide their services through the site shortly.”

He also added, "We worked hard with the insurance providers to provide an accurate premium calculation mechanism that takes in consideration a large number of factor, 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."

Al Rashdi thanked the Capital Market Authority for its support to a new idea, specifically ones that utilise the technology to ease the consumers' experience and guarantee safe and smooth transactions. He also applauded the role of Royal Oman Police for implementing the (e-insure) system that connects the insurance companies with the police database, allowing customers to renew their vehicles immediately after issuing the insurance policy, and stated the solutions as Bima would not have been the same without it.