Bank Muscat, AXA widen partnership to offer innovative insurance solutions
March 6, 2018 | 6:32 PM
by Times News Service
Photo: Supplied

Muscat: Bank Muscat, the flagship financial services provider in the Sultanate, and AXA, the number one global insurance brand, signed an agreement to widen partnership to offer a bouquet of innovative insurance solutions to the bank’s customers.

Abdul Razak Ali Issa, chief executive, and Cedric Charpentier, chief executive officer, AXA Insurance Gulf, signed the agreement at a ceremony held at the bank’s head office, attended by senior officials from Bank Muscat and AXA Insurance.

Abdul Razak Ali Issa said, “Bank Muscat is proud to reinforce the unique partnership agreement with AXA and widen the scope of partnership in order to offer a wide range of bespoke bancassurance products for customers. The Bank Muscat - AXA partnership is a fine example of co-operation between companies aimed at serving customers with niche products and services. The synergy emanating from the partnership is unparalleled and the unique value proposition for customers is designed to elevate the banking and insurance experience in Oman.”

Marking a milestone in the strategic partnership in place between Bank Muscat and AXA Insurance since 2013, the one-stop facility for bespoke bancassurance products now include auto, home, savings and SME solutions, in addition to life and health. With the new agreement, Bank Muscat customers can now buy insurance of motor, home, yacht, high-value home contents (Art) and SME solutions through dedicated insurance advisers on the bank premises.

“The insurance market in Oman is rapidly evolving and we are happy to play a pivotal role in its progression. We are very proud to strengthen our relations with Bank Muscat and extensively offer new products to its customers,” said Charpentier. “At AXA, we have always focused on our defined purpose of empowering people to live better lives, and we hope that through this collaboration, customers will enjoy peace of mind by having all the services they need under one roof.”

Abdullah Tamman Al Mashani, DGM – Institutional Sales and Product Development, said, “As the Sultanate’s flagship bank which accords priority to the needs of customers, the focus of the partnership with AXA is to offer comprehensive insurance and savings products catering to all customer needs. The unique products are in response to the genuine requirement for comprehensive insurance plans in Oman. The bank’s unique and largest distribution footprint and the global know-how of AXA add significant value to the partnership.’’

Bank Muscat customers will be able to purchase the new insurance solutions through dedicated insurance advisers based in 30 select branches of Bank Muscat spread across Oman and a team of dedicated account executives for quality service.

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