Muscat Insurance Company Selects Beyontec Suite

25

Muscat, Oman: ME NewsWire: Beyontec, a leading insurance information and technology firm specializing in providing configurable solutions to the P & C Insurance industry announced today that Muscat Insurance Company (MIC), one of the leading insurance companies in Oman has selected Beyontec as their preferred technology partner. Beyontec will implement their award-winning insurance solution Beyontec Suite for MIC.

After evaluating various available solutions, MIC concluded that the Beyontec Suite, a core solution suite that supports the complete policy lifecycle across wide variety of products, would help MIC achieve their goals to obtain market leadership. Beyontec’s proven delivery proposition will also provide MIC with the ability to introduce new products to market quickly.

“After a comprehensive evaluation and selection process that included Tender and Detailed Demonstration of Beyontec Suite, MIC chose Beyontec Suite in order to achieve our vision of becoming Oman’s leading Insurance Company” said Mr. Philip K Philip, Group CEO at MIC. As our Industry is in the process of consolidation, we have set certain ambitious growth plans for our group. It was important for us to select a right technology partner with an established delivery record and industry expertise to help us achieve our objectives.”

“Our workflow-driven Beyontec software, with its fully integrated modules crossing all activities in insurance transactions, will enable Muscat Insurance Company to quickly and completely respond to their Customers. It was a pleasure to meet people as committed to customer care as we are at Beyontec. We warmly welcome Muscat Insurance Company to the Beyontec family and we’re looking forward to long-term relationship,” said Mr. Vivek Sethia, Cofounder at Beyontec Solutions DMCC.

Beyontec Suite supports all lines of insurance business such as General, Life and Medical, enabling carriers to explore new product offerings and hybrid designs.

Beyontec and Muscat Insurance Company signed a strategic agreement to implement the Beyontec

Suite on June 21, 2017.

About Muscat Insurance Company:

Muscat insurance company was founded in 1995 as a public share holding co. In 1999 the company was restructured into an investment company Muscat National Holding S.A.O.G. listed on the Muscat Securities Market and its two 100% owned subsidiaries as Muscat Insurance Company SAOC (MIC) which markets all classes of general insurance and Muscat Life Assurance Company SAOC (MLAC) which markets life and health insurance products.

The Company has twenty locations and its head office is in Al Khuwair. New locations are being added to the current network. MIC’s focus is not to be the biggest in terms of market share but to maintain excellent service at all times, and to be ‘the best’ in Oman.

About Beyontec Solutions:

Beyontec Solutions is a global insurance solution provider, addressing all aspects of insurance business including general insurance, Takaful, life insurance, medical insurance and Insurance Broking. The Beyontec Suite is a workflow driven solution designed to provide cost-effective solutions by focusing on our customers’ requirements and business challenges. Our diverse insurance experience and knowledge has enabled us to create solutions that incorporate the world’s best insurance practices. Supported by experienced insurance professionals and support centres equipped with secure infrastructure, we provide the best service and support to global insurance companies.