Bank Sohar signs agreement with Vision Insurance

Muscat: As part of its consistent efforts to provide a diverse bundle of products and services to customers across the Sultanate, Bank Sohar recently signed an agreement with leading Omani insurer Vision Insurance to offer motor, home and travel insurance, as part of its non-life insurance products under the Bank Sohar A’ Tameen Al Mumayaz brand.

The agreement, which was signed bilaterally by Bank Sohar’s Acting CEO Sasi Kumar and CEO of Vision Insurance P.R. Ramakrishnan, paves the way to offer comprehensive insurance solutions, with a flexible and hassle-free claims process.

“We are more than glad to partner with Oman’s leading experts in insurance, so that our customers can benefit from a comprehensive suite of non-life insurance products. It forms part of the focus of the bank’s life cycle approach towards product research and development to address every banking requirement of our customers," said Sasi Kumar.

“Vision is immensely honoured to have been chosen as the preferred partner by Bank Sohar in recognition of the company’s financial strength, customer-centric professional team supporting these offerings and its strong product structuring capabilities. This strategic alliance is in furtherance of Vision’s aspiration to enhance the company’s retail customer segment reach and will further expand the direct customer touch points from Vision’s country wide network of 15 branches,” explained Ramakrishnan.
“This partnership reaffirms our commitment to form strategic industry alliances, so we can offer the best combination of products and services to our customers. With the launch of these extensive non-life insurance products under A’ Tameen Al Mumayaz, we are offering reliable, flexible and hassle-free solutions that take the stress out of everyday life decisions, whether it is driving, travelling or safeguarding homes. These products have been developed under careful supervision and planning to offer precise solutions to customers based on the contingencies they encounter at any given time,” remarked Rajeev Arora, DGM and head of Retail at Bank Sohar.

With Bank Sohar’s offering of Vision’s comprehensive travel insurance, customers can travel hassle-free and enjoy complete peace of mind with its comprehensive features such as emergency medical and evacuation up to a limit of $1 million, including 24x7 worldwide emergency medical assistance service, comprehensive personal liability, credit card fraud, ATM thefts, mugging and hijacking.

Home insurance product offers cover for home contents up to OMR25,000 and for personal belongings against perils such as fire, burglary and natural calamities, including personal accident and accidental medical expenses. Further, in the event of a covered house rendered inhabitable, the product will compensate the expenses incurred by the customers on alternative accommodation.

The motor insurance product offered to Bank Sohar’s customers provides comprehensive coverage, including agency repairs up to three years, free road-side assistance and No Claims Bonus on renewal premiums for safe drivers, along with other standard features of motor insurance.