MURTADHA BUSINESS SOLUTIONS L.L.C - MBS

27/10/2021

20/05/2020

انتظرونا!
اليوم الساعه ١١ مساء بتوقيت القاهرة لمتابعه برنامج

لمناقشه تجربه التحول التكنولوجي في سلطنه عمان و اخر المستجدات و المبادرات المطروحة للتعاون الإقليمي المشترك
https://youtu.be/pS2CrB_n5o8

– الضيوف : 1-الأستاذ احمد بن علي المعمري : نائب الرئيس لقطاع التامين بالهيئة العامة لسوق المال بسلطنة عمان . من سلطنه عمان 2-الأستاذ مرتضى ب...

01/05/2020

Edelweiss-Gallagher facilitates pandemic group insurance for informal sector, frontline workers https://www.thehindubusinessline.com/money-and-banking/edelweiss-gallagher-launches-pandemic-group-insurance-for-informal-sector-frontline-workers/article31469983.ece?utm_campaign=amp_article_share&utm_medium=referral&utm_source=whatsapp.com

“ It is now golden opportunities for the insurance & reinsurance underwriters in Sultanate collectively , to come up with new insurance products for various market segments and serve the public and insurance & reinsurance capital for core business i.e. Insurance & Reinsurance Activities.
Indian Insurance Market is a good example.
I hope our Insurance industry in Oman may benefit from Indian Market experience .
“Think Global . Act Local “.
With compliments
Murtadha M J Ibrahim Al Jamalani,
🇴🇲Muscat - Sultanate of Oman 🇴🇲

As sectors gradually resume operations with the easing of lockdown conditions, Edelweiss-Gallagher, a composite insurance broker, has facilitated a pandemic group insurance product for informal sector

30/04/2020

https://www.asiainsurancereview.com/News/View-NewsLetter-Article/id/61470/Type/eDaily/India-Unified-regulator-established-for-international-financial-services-centres/1/sid/30003?utm_source=News&utm_medium=Email&utm_campaign=AIR_eDaily
هذا نموذج اعادة هيكلة التنظيمي لنظام المالي في جمهورية الهند .
This is a business model of financial sector restructuring in Republic of India.
With compliments
Murtadha M J Ibrahim Al Jamalani,
Muscat- Sultanate of Oman
🇴🇲🌹🇴🇲🌹🇴🇲🌹🇴🇲🌹🇴🇲🌹🇴🇲🌹🇴🇲🌹🇴🇲🌹🇴🇲

The Finance Ministry has issued a notification establishing the International Financial Services Centres Authority (IFSCA) to unify supervision over all financial services in international financial services centres (IFSCs) in the country.

29/04/2020

https://www.reuters.com/article/us-health-coronavirus-insurance-pandemic/u-s-insurers-want-taxpayers-to-back-pandemic-coverage-for-businesses-idUSKCN22B1J8?utm_source=twitter&utm_medium=Social
With compliments
Murtadha M J Ibrahim Al Jamalani,
Muscat- Sultanate of Oman 🇴🇲

The U.S. insurance industry is promoting the idea of an insurance plan backed by the federal government that would help businesses that in the future suffer losses from a pandemic, people familiar with the effort told Reuters.

16/02/2020

نموذج تجربة حكومة جمهورية الهند في تنظيم قطاع الصحي في الهند.
مع أطيب التحيات وأسعد التمنيات.
مرتضى بن محمد جواد بن ابراهيم الجمالاني
فIRDAI expresses concern over high hospital tariffs, plans to standardise charges - https://www.moneycontrol.com/news/india/irdai-expresses-concern-over-high-hospital-tariffs-plans-to-standardise-charges-4946451.html

The Insurance Regulatory and Development Authority of India is striving for standardisation of charges of medical procedures, she said, adding that it will take some time as this is a "tough challenge".

22/09/2019

16/09/2019

نموذج اخر من إدارة ممارسة نشاط التأمين الصحي الإلزامي
Asia Insurance Review

News Life and Health
16 Sep 2019
India:Authorities recommend measures for effective healthcare through health insurance
16 Sep 2019

India Life & Health Technology

The National Health Authority (NHA) and the IRDAI in a joint report released last Saturday have recommended best practices, common standards, collaborative measures and IT framework for effective healthcare through health insurance in India.

The report states that such an arrangement will benefit all stakeholders – beneficiaries, policyholders, insurers, state health agencies, healthcare providers, implementing agencies and intermediaries, etc.
A joint working group of IRDAI and NHA was formed to work on key areas of mutual interest and co-operation, reported Press Trust of India. The group focussed on four key areas:

hospital network management;
data standardisation and exchange;
common IT infrastructure for health insurance claims management; and
fraud and abuse control.
In the segment on hospital network management, the experts recommend building a national database of empanelled hospitals under insurance/government schemes with defined standards for quality and package rates and codes.

The segment on data standardisation and exchange stresses creating standard data formats across health insurance payers for analysis and policy-making by developing standardised data tables to capture and report data, identifying data elements common with IRDAI and PMJAY. It also includes setting up a framework for capturing and exchanging data.

The section on fraud control focuses on detecting and deterring fraud through capacity building by developing a standard reporting format for fraud and abuse to be used across the industry and government schemes. It also recommends creating a database of fraudulent transactions, modus operandi and entities and developing standards for field verification and investigation and developing "name and shame" guidelines.

The section on common IT infrastructure for health insurance claims management focuses on increasing service efficiency and transparency among stakeholders in the delivery of health insurance services by defining the roadmap for electronic, paperless, codified data exchange between payer and provider, collation and analysis.

Dr Indu Bhushan, CEO of NHA, said, "The recommendations in the report are a step forward in enabling quality healthcare and access for patients. These reports would help further strengthen the transparency, efficiency and effectiveness of PMJAY, benefitting millions in India directly." The NHA manages the Pradhan Mantri Jan Arogya Yojana (PMJAY) or the national health protection scheme launched last year.

IRDAI chairman Mr Subhash Khuntia said, “We are confident that implementation of these recommendations shall create a positive impact and lead to further growth of health insurance in the country.”
With Compliments
Murtadha M J Ibrahim Al Jamalani, Muscat - Sultanate of Oman 🇴🇲

09/07/2019

الرواد الأعمال مؤسسات الصغيرة والمتوسطة في السلطنة يبذلون الجهود للاعتماد على أنفسهم في مصادر الدخل من خلال تنويع الاستثمار في مشاريع قطاع الخدمات (الصحة والتأمين و إعادة التأمين )

15/06/2019

VAMED Engineering GmbH (Vienna, Austria), a leading international specialized in Healthcare industry and Spa Sector held annual regional strategy staff get together conference from 10th to 13th June 2019 in Burr El Jissah Shangri-la Resort in Muscat, Sultanate of Oman.
It is worth mentioning that VAMED is been awarded a "Turnkey- Contract, Build, Design & Operate" a Specialised Spine & Orthopedic Hospital and Rehabilitation Centre " in Wilyat Saham, North Batinah,@@ Sultanate of Oman, as face one, followed by University General Hospital face two.
VAMED is also been awarded part of Royal Oman Police Hospital contract.

26/04/2019

Al Roya Daily Newspaper entered into strategic partnership with Oman Chamber of Commerce and Industry for Al Roy Economic & Oman Chamber of Commerce and Industry Award 2019 - 2020.
This was the first time in Al Roy's history to include Insurance Sector in this event. Special entry form was designed & prepared for the participation of insurance company including such as a performance and growth of the company as to quality of the services, Prompt settlement of claims, nationalization of jobs, social corporate responsibilities, Dividends & contribution to the GDP.
Al Roya Business Award (winner ceremony award event) took place on Thursday April 25th 2019 at Muscat Grand Hyatt Hotel under auspices of His Highness Sayyid Dr Faris bin Turki Al Said where the winner Insurance Company was announced was Muscat Insurance Company SAOG as the Best Company in the year 2019.

26/04/2019

قامت الصحيفة الرؤية بتوقيع اتفاقية الشراكة الاستراتيجية لجائزة الرؤية الاقتصادية مع غرفة تجارة وصناعة عمان للفترة ٢٠١٩-٢٠٢٠. حيث ابدت الصحيفة اول مرة رغبتها في إدخال في مشاركة قطاع التأمين بالنسخة الثامنة من جائزة الرؤية الاقتصادية وتم إعداد استمارة خاصة لمشاركة مؤسسات قطاع التأمين تتضمن عدد من البنود منها أداء و تطور ونمو الشركة من حيث جودة خدمات التأمين وسرعة سداد المطالبات و توطين الوظائف و المسئولية الاجتماعية وتوزيع الأرباح و مساهمة الشركة في الناتج المحلي.

02/03/2019

News MiddleEast28 Feb 2019
Asia Pacific:Mutual & cooperative insurance mart grows by 21% in 10 years from 2007
By MEIR team | 28 Feb 2019
5

Global Takaful

Asia and Oceania was the only region where the growth of the mutual insurance market in the 10 years from 2007 did not exceed that of the total market. Mutual insurers in the region collectively grew by 21.0% between 2007 and 2017, which was weaker than the total market expansion of 77%, according to the "Global Mutual Market Share 10" report by the International Cooperative and Mutual Insurance Federation (ICMIF).

In Asia and Oceania, the mutual and cooperative sector experienced a loss in market share, falling from 19.4% in 2007 (and a peak of 22.6% in 2011) to 13.2% in 2017. The decline in mutual share in the region can be attributed to: the depreciation of the Japanese yen, which adversely impacted the regional mutual figures due to a larger contribution of Japanese mutual business; and the emergence of China as one of the largest insurance markets in the world, where mutual pe*******on is currently very low.

Since 2007, the 10-year growth of the mutual sector exceeded that of the total insurance industry in the other four regions:

Between 2007 and 2017, Europe was the only region to report negative growth (-14.8%) in premiums for the total insurance industry, while in stark contrast, the mutual insurance sector posted a positive growth of 14.8%.

North American mutuals also recorded stronger growth in premiums (+48.6%), well ahead of the total industry’s regional premium growth (+11.7%).

Although Africa was the smallest region in terms of total mutual premiums written in 2017, it recorded the strongest regional growth for mutuals since 2007, with a 170% premium increase, and significantly outperforming the total industry average (+18.8%).

The Latin American mutual sector also doubled in size between 2007 and 2017 and reported faster growth (+113%) than the rest of the market (+88%).

Global

The 10-year ICMIF research highlights that the mutual and cooperative insurance market has been the fastest growing part of the global insurance industry in the 10-year period since the global financial crisis.

Premium income of the global mutual and cooperative insurance sector grew by a total of 30% compared to 17% growth of the total global insurance industry. As a result, the global market share of mutual and cooperative insurers rose from 24.0% in 2007 to 26.7% in 2017.

In her foreword in the report, Ms Hilde Vernaillen, chairperson of ICMIF, commented on how the start of the last global financial crisis acted as the catalyst for growth for the cooperative and mutual insurance model: “At this financially volatile time, as consumer trust, consumer spending and interest rates plummeted, the cooperative/mutual insurance sector began to emerge, even flourish, outperforming the insurance industry average and capturing more market share. Additional qualitative research carried out by ICMIF during this period suggests that this positive performance is linked to consumers’ preference for providers that can demonstrate characteristics most commonly associated with cooperatives and mutuals: trustworthiness, security and service excellence.”

The ICMIF report also shows that 922m members/policyholders were served by mutual/cooperative insurance companies in 2017, a 13% growth over 2012. The growing positive socio-economic impact of the mutual and cooperative industry was also evident in the increase in the number of people employed by the sector, which reached 1.16m in 2017, a 24% growth since 2007. There were over 5,000 mutual and cooperative insurance companies operating in 77 countries in 2017

Follow Middle East Insurance Review

With Compliments
Murtadha M J Ibrahim Al Jamalani, Muscat - Sultanate of Oman

27/02/2019

08/02/2019

اهم ميزة تنافسية competitive advantage و عوامل جلب الاستثمار هو الأمن والاستقرار قبل امتيازات أخرى.

08/02/2019

نموذج اخر من اعمال Business Model لتخفيض التدفق النقدي لخارج البلاد و احتفاظ أقساط التأمين في داخل البلاد للاستثمار في البنية الأساسية و جلب العملة الأجنبية Foreign Currency للبلاد.
Asia Insurance Review

News Reinsurance
08 Feb 2019
India:Reinsurers seek separate accounting rules
08 Feb 2019

India Reinsurance

Reinsurance companies have approached the IRDAI for a separate set of accounting and reporting standards for their sector.

At present, reinsurers in the country, including state-run GIC Re, use the same reporting standards prescribed by the regulator for insurance companies.

“The industry has been in talks with the IRDAI on a separate set of guidelines for reinsurers for reporting, accounting and end-use,” an executive with a foreign reinsurance company told Hindu Business Line.

The discussions followed the IRDAI's introduction last December of rules for foreign reinsurers, to create a more level playing field with GIC Re. While the state-run reinsurer continues to have the first right of refusal, foreign reinsuers can bid for the contracts and win if they quote lower prices. Apart from GIC Re, there are nine foreign reinsurers that operate in the country through branch offices. They include Swiss Re and Allianz Global Corporate & Specialty.

Experts believe a separate set of reporting guidelines are necessary for reinsurers, as their nature of business and cashflows are different from those of insurers.

“The insurer gets the money as soon as the risk is underwritten; the reinsurer gets the money quarterly in an aggregated form,” said Joydeep Roy, partner and leader, Insurance and Allied Businesses, PwC India, adding that accounting standards need to be tailored to reinsurance to help present the true picture of the accrual of risk and premium in the segment.

With Compliments
Murtadha M J Ibrahim Al Jamalani

08/02/2019

To enable to protect fisherman, financial sector interest (Blue Economy), all stakeholders and boost insurance premium growth & enhance contribution in local GDP. OMAN CHAMBEER of COMMERCE & INDUSTRY represented by Financial & Insurance Committee organized a tailored made Unfied Insurance Policy for Fishing Vessels, Boats and traditional Boats (Omani Product) approved by Capital Market Authority of Sultanate of Oman.