CMA approves four firms to provide e-insurance

CMA approves four firms to provide e-insurance

Muscat: The Capital Market Authority (CMA) has approved four companies to provide integrated insurance services online through approved platforms.These companies are Arabia Falcon Insurance Company, Gulf Insurance Group, Integrated Solution Insurance Broker and Insurance House.CMA said that the approval of these platforms came after studying and analyzing their requests and ensuring that they fulfill all the requirements in the regulation regulating electronic insurance operations, which was approved in the last quarter of 2023.It represents a regulatory and legislative framework for providing digital insurance services in the Sultanate of Oman, and the regulation obligates every insurance company to establish its electronic platform concerned with providing integrated digital insurance services and allowing insurance broker offices to create an electronic platform to provide licensed services.CMA said the insurance services provided by electronic platforms include selling insurance policies, marketing products, collecting premiums, managing claims, submitting complaints, and following them up through an electronic digital platform, whether through websites or smartphone applications.

CMA approves four firms to provide e-insurance