MUSCAT: Reinforcing its commitment to offering its valued customers the best digital banking services and solutions, Bank Muscat, the leading financial services provider in the Sultanate of Oman, has announced the launch of new insurance solutions in cooperation with Dhofar Insurance Company, one of the Sultanate’s leading insurers, during the official signing ceremony held recently at Bank muscat’s Head Office. The agreement was signed by Ahmed Faqir Al Bulushi, DCEO – Banking at Bank Muscat, and Sunil Kohli, CEO of DIC, with the presence of senior officials from both parties. As part of the agreement, Bank Muscat has launched the travel insurance solution through its Internet Banking and Mobile Banking (IBMB) channels, as well as a new range of medical insurance solutions for individuals and domestic workers.

The new travel insurance service enables customers to obtain comprehensive travel insurance coverage quickly and conveniently, without the need to visit a branch. Bank Muscat customers can now purchase their travel insurance directly through the Bank’s digital platforms with ease, reflecting the Bank’s ongoing commitment to anticipating customer expectations and delivering services that meet their needs wherever they are. The service also provides customers with financial protection and immediate assistance in the event of unforeseen circumstances before or during their trips. The policy covers medical emergencies that travelers may face during their journey, as well as trip cancellation. Coverage also extends to compensation for lost baggage and personal accidents that may occur while travelling, in addition to emergency evacuation, giving customers complete peace of mind and protection throughout their journey. The Bank offers three tiers of travel insurance plans to suit customers’ varying needs and travel destinations. The Platinum plan provides worldwide coverage, while the Gold and Silver Plans cover all countries worldwide except the United States, Canada, Australia and Japan. Customers can now select the plan best suited to their destination and the nature of their trip.

On the individual health and domestic helper health insurance solutions, the product is designed to address the needs of different segments of society, including individuals and domestic workers, at competitive rates and accessible terms.

The Individual Health Insurance plan offers a comprehensive local and international medical network, covering both in-patient treatment and out-patient care,  at competitive premiums. The plan is available across three flexible coverage packages to suit different needs: the Green package, offering comprehensive coverage with an annual limit of up to OMR 5,000; the Silver package, providing extensive services with an annual limit of up to OMR 10,000; and the Gold package, delivering the highest level of care with an annual limit of up to OMR 15,000.

The Domestic Worker Health Insurance plan provides an extensive, approved medical network, with comprehensive in-patient coverage of up to OMR 4,000 over two years, in addition to out-patient services, all for an attractive premium covering a full two-year period.

On this occasion, Ahmed Faqir Al Bulushi, DCEO – Banking at Bank Muscat, said: “The launch of this comprehensive suite of insurance solutions in collaboration with Dhofar Insurance Company reaffirms Bank Muscat’s strategy of building an integrated banking ecosystem that goes beyond traditional banking services. By making travel insurance available digitally and providing medical insurance solutions for individuals and domestic workers through our network of branches across the Sultanate, we enable our customers to access comprehensive protection that meets their needs at every stage of life, with ease and convenience. At Bank Muscat, we are committed to delivering a smart and proactive banking experience that gives our customers security and peace of mind. This step embodies the Bank’s vision to be the leading financial partner that innovates digital solutions that not only cover traditional banking services, but also extend to cover everything a customer needs throughout their life journey.”

From his side, Sunil Kohli, Chief Executive Officer at Dhofar Insurance Company, noted: “We take pride in our collaboration with Bank Muscat to launch a comprehensive suite of insurance solutions that combines digital travel insurance with medical insurance for individuals and domestic workers. This collaboration reflects our shared vision of leveraging technology to deliver innovative and flexible insurance products that put the customer first. Through this suite, we provide families and individuals across the Sultanate of Oman with comprehensive and easily accessible protection, in line with the demands of modern life and in support of the digital transformation journey within the sector.”

As the Sultanate’s leading financial institution, Bank Muscat remains committed to offering the latest insurance solutions and products at affordable rates that meet the aspirations of all segments of society, as part of a wide range of bancassurance services delivered in partnership with leading insurance providers. Customers can learn more about the travel insurance plans and subscribe in a few simple steps through the Bank Muscat Mobile Banking app or Online Banking, available around the clock.