Oman firms adopting 3i Infotech’s Premia

Two Omani insurance companies are to streamline their businesses processes using 3i Infotech’s Premia ent- erprise resource planning (ERP) solution.

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By  Diana Milne Published  January 1, 2006

Two Omani insurance companies are to streamline their businesses processes using 3i Infotech’s Premia ent- erprise resource planning (ERP) solution. The solution, which is tailored to the specific needs of the insurance industry, has now been implemented by Falcon Insurance and Armour Insurance Services. Falcon implemented the Premia business enterprise solution, to enable it to integrate the functions of quotations, policy issuance, claims processing, re-insurance and accounting. Insurance brokers, Armour Insurance Services, chose to implement Premia Broker — as an end-to-end solution covering insurance and reinsurance broking as well as the integration of underwriting, broking and accounting. Hari Padmanabhan, executive director and president of 3i Infotech, explained why these solutions are so beneficial to the insurance industry. “These solutions essentially integrate the whole operation so that there is direct flow from one aspect to another — from the time the policy document is printed. It allows these com- panies to make their entire business process a lot more responsive to customers,” he noted. “It can reduce the transaction time because it makes information easily available for decision making. And you can easily study data to determine premiums for different customers,” Padmanabhan added. Armour Insurance Services is a collaboration between Shiriam Financial Services Holdings, Eint Trading and Contracting Company, Middle East Investments and Mohsin Haider Darwish. Anwar Ali Sultan, chairman of the company said: “The implementation of Premia, a state of the art IT platform, has greatly improved the efficiency of our business processes and minimised considerably the response time to our customers.” 3i Infotech claims that 55% of the total premium written in the GCC countries and in Africa is done using the Premia solution and that it holds 90% market share in Oman. Its other customers from the Omani insurance sector include Dhofar, Oman United and Ahlia Insurance. “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,” said Kalpesh Desai, CEO of Europe, Middle East and Africa at 3i Infotech.

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