Oman Insurance Association (OIA) recently conducted its Members Meeting at the InterContinental Hotel Muscat. This was its first large physical meeting post the pandemic. The event saw a turnout of more than 100 professionals representing insurers, brokers, regulators and other associate organizations.
The dual agenda for the afternoon was one to present the industry professionals with their academic certificates for completing their Certificate in Insurance (Cert CII) qualification from the Chartered Insurance Institute (CII), UK; and the other to update the audience on the activities of the OIA and to encourage for wider industry participation.
The OIA awarded a total of 22 professionals from the industry for the completion of the Cert CII professional qualification during the year and another group of 18 candidates were recognized for completing the relevant training courses in their quest to secure this qualification. It was a moment of pride both for the professionals who successfully completed their qualification and for the Industry as a whole to have more qualified professionals working alongside to take Oman's insurance industry to the next level of expertise and maturity.
Speaking on the ocassion, Husain Al Ajmi – CEO of the Foundation for Insurance and Finance Education (FIFE) and guest of honour for the event said, "It is the enthusiasm of these young professionals today that makes me believe that Oman's insurance industry has a very bright future. With continuous encouragement and guidance from the esteemed Capital Markets Authority and complemented by the proactive industry association (OIA), the Omani market is poised to be the best in the region very soon and at par with leading international markets.”
“This professional qualification and knowledge helps me to progress to the next stage of my career to a senior and specialist role. I thank my trainer and all my mentors who have helped me achieve this qualification”, commented an excited Al Muayad Al Mandhari, who passed the above qualifying certification with flying colours.
The OIA in its presentation also updated the audience on the progress made on key projects covering topics of NAT CAT study, Motor Insurance Study, eROP, etc. Preliminary information about Oman winning the bid to host the GAIF event in 2024 was also shared with the audience.
In terms of furthering the work done by the association, the OIA urged all members and their teams to actively participate in the several sub-committees to bring their subject specific views on board. The OIA also welcomed many specific suggestions from the audience and assured that all their suggestions will be considered in the upcoming sessions of the OIA and all possible efforts will be made to include as many as possible.
The association also acknowledged the valuable guidance and assistance received from the Capital Market Authority and the Ministry of Social Development. The Directors also expressed their gratitude for the continued commitment and dedication of its members.
OIA is a trade body consisting of Insurance Companies, Insurance Brokers, Loss Adjusters and others licensed by Capital Market Authority. OIA was established in 2010 under the Ministry of Social Development with the objectives of facilitating exchange of views amongst all stakeholders of the industry, developing solutions to key priorities like training, underwriting expertise, risk management as well as understanding and implementation of global developments and last but not the least providing customers of Oman with the best insurance products and services. Since its inception OIA's strength has grown to 30 members and is now in its 12th year of operations with regular industry wide engagements both locally and regionally.