Going beyond banking: Sohar International Onboards BIMA to Enhance Insurance Offerings

03-12-2024 Back to Newsroom

Sohar International, the fastest-growing bank in Oman, recently entered into a strategic partnership with Insurance House LLC (BIMA), the only digital insurance aggregator licensed to operate in Oman. This collaboration aligns with Sohar International's mission to transcend conventional banking boundaries and establish itself as a world-leading Omani service company with a holistic ecosystem dedicated to enriching lives. By onboarding BIMA to the 'My Life/My Goals' section of Sohar International’s mobile banking app, the bank aims to offer individuals enhanced access to a multitude of insurance solutions that cater to their diverse needs. BIMA's extensive network includes partnerships with 13 out of the 18 insurance companies operating in Oman, presenting Sohar International mobile banking users with a plethora of options and flexibility when it comes to choosing insurance coverage.

Mr. Abdul Qader Ahmed Mohammed Al Sumali, Chief Retail and Premier Banking Officer, and Mr. Said bin Salem Al Rashidi, CEO and founder of Bima, have officially endorsed the strategic partnership. The signing ceremony was attended by several executive members from both organizations.

Commenting on the partnership, Mr. Abdul Qadir Al Sumali, Chief Retail and Premier Banking Officer at Sohar International said, “The integration of BIMA's platform into our digital ecosystem reflects our dedication to harnessing technology for the benefit of the broader community. By enabling effortless access to insurance products, Sohar International endeavours to elevate the convenience quotient for individuals by facilitating easy comparison and purchase of insurance policies through a centralised platform. These enhancements significantly streamline processes, ultimately leading to time savings and enhance overall efficiency.”

Mr. Abdul Qadir Al Sumali added, "At Sohar International, we recognise the crucial role of the insurance sector in promoting socio-economic development. Through our partnership with BIMA, we aim to contribute to this progression by offering proactive protection in a seamless and competitive manner. Our innovative approach and commitment to digitalization not only transforms the banking landscape but also empowers individuals and businesses to navigate uncertainties with confidence."

Mr. Said bin Salem Al Rashidi, CEO and founder of BIMA, expressed his enthusiasm about the collaboration, stating, "Partnering with Sohar International is a significant step towards revolutionizing insurance accessibility in Oman. Our digital platform, integrated seamlessly into Sohar International’s mobile banking app, not only offers a diverse range of insurance solutions but also emphasizes the importance of innovation in enhancing customer experience. This strategic alliance aligns with BIMA's mission to make insurance simple, affordable, and accessible to all, contributing to the broader goal of financial inclusion in Oman. We are excited about the positive impact this partnership will have on individuals across the country, providing them with greater financial security and peace of mind."

This partnership demonstrates Sohar International's commitment to delivering value-added services and elevating the overall banking experience for all. By nurturing long-term relationships built on trust and reliability, while also empowering individuals with greater control over their financial futures, Sohar International continues to pave the way for a brighter and more prosperous future for the community.

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