3i Infotech a global leader in information technology solutions for insurance, ERP, banking, e-commerce and retail industries announced Tuesday that it has signed two new customers from the insurance sector in Oman. Premia, 3i Infotech’s leading enterprise business software catering to the specific needs of the insurance industry, now boasts the largest market share of insurance solutions in Oman. Premia today is used by leading insurance companies who cumulatively write more than 55% of the premium in the region.
“Successfully achieving this consistent level of growth in the Omani market is a good indicator of our understanding of the specific needs of this market,” says Kalpesh Desai, Chief Operating Officer, Europe Middle East & Africa of 3i Infotech. “Premia, boasts highly flexible & scalable features, catering to the diverse and sophisticated needs of the regional insurance industry.”
Recognizing the efficiency, effectiveness and adaptability of the Premia solution, Falcon Insurance is the latest company in the General Insurance sector to choose this solution. With a specialization in providing risk management, Falcon required an enterprise business solution that could meet & exceed the diverse and unique needs of its clientele both now & into the future.
Premia will enable Falcon Insurance to integrate seamlessly, the functions of quotations, Policy issuance, Claims processing, Reinsurance and Accounting so that customer needs are met in the most standardized and complete manner.
Further adding the company’s success in the Omani market, Armour Insurance Services LLC has selected Premia Broker to manage all classes of its insurance needs. Designed as a complete end-to-end solution covering insurance and reinsurance broking solutions as well as the integration across underwriting, broking and accounting
The adaptability of Premia Broker is also in-tune with Armour Insurance’s structure, which brings together four premier business houses with one combined vision to provide Oman with a ‘cost effective and innovative insurance solutions’ tailor-made to suit their needs. The four renowned partners are Shiriram Financial Services Holdings ltd, Eint Trading and Contracting Company L.L.C (associate company of W.J Towell Group), Middle East Investments L.L.C (part of Suhail Bahwan Group) and Mohsin Haider Darwish L.L.C
“The implementation of Premia, a state-of-the-art IT platform has greatly improved the efficiency of our business processes and minimized considerably the response time to our customers,” said Mr Anwar Ali Sultan, Chairman of Armour Insurance Services LLC.
3i Infotech’s international reputation for excellence in the Insurance sector was recognized when the company was awarded the 2005 Asia Insurance Provider Award for excellence in the insurance industry. The award, handed to 3i Infotech by a panel of respected industry leaders, recognized the pioneering work, contribution and commitment that the company has shown to the worldwide insurance market.
