Path-breaking Insurance Services Over Digital Platforms

National Life & General Insurance
General Manager, Gopinath Govindan, National Life & General Insurance

Excerpts from the interview

National Life & General Insurance Company SAOG (NLGIC) won Innovative Digital
Services in Insurance Sector award at New Age Banking and Finance Summit 2019.
Gopinath Govindan, General Manager & Head Operations, NLGIC talks about the company’s latest digital offerings and its approach to the ongoing digital transformation.

On Winning the Award

It is a great pleasure to have this award, especially in a fast changing technology
landscape in the insurance industry in Oman and the region. Getting the Innovative Digital Services in Insurance Sector award at a reputed forum like New
Age Banking and Finance Summit 2019 is indeed a significant achievement. It
underlines our commitment towards technology and innovation.

Such award promotes innovations as well as investments in the digital media and
I am sure this would further motivate and inspire other players not only in
insurance industry but across the banking and financial services industry.

This in turn is good for all stake holders as well as the customers and the industry at
large. So I would like to thank the organizers – UMS for this initiative and for
recognizing our efforts, achievements and progress in innovative digital services
in insurance sector.

On National Life’s Digital Offerings

Approach of Update and Upscale. We keep ourselves updated of the latest
offerings in the insurance industry and try to figure out which best technology
suits us best. We look at technologies that contains costs, improves operational
efficiencies and expands customer reach and enhance customer care.
Further, based on business requirements, we update our systems and technology.
As you are aware, recently we launched a very comprehensive Mobile App
NLGIC Insurance”, available on Apple Store as well as Google Play, which has
been well received by our customers and business partners.

Currently, we have five products on the App – motor insurance, individual health
insurance, home content insurance, comprehensive personal plan and travel
insurance and look forward to adding more product offerings through the App.

NLGIC Insurance App is very user-friendly. If the customer wants to insure his
car through the App, he only needs to enter the registration number and the App
would give all the remaining details which makes it easy, fast and simple.
In the coming days, we shall continue to add more features and benefits to the
NLGIC Insurance App with many value-added benefits for our customers as well
as business partners.

The App is comprehensive and is also complemented with a strong back-end
support team to ensure smooth user friendly experience for our customers and
app users. Its features would definitely expand our reach to our existing
customers as well as bring in new customers who can get a quote or buy insurance
from the comfort of their own place.

NLGIC’s approach to the ongoing digital transformation taking place over the

Technology is of course changing fast across the globe, but we have to identify
the right and implement only such technologies that benefits our value chain.
We are one of the largest and fastest growing companies in Oman and also
expanding into other countries within the region as well as outside. We shall look
at innovations and technologies that help us manage the ever growing business
expansions and make the world flatter. Technologies that would help with better
data information, improve efficiencies as well as support informed decision
making process.

We also look very closely at the market and try to identify the need of the market,
disruptive technology and where digital transformation is required or is
imperative. Then we work upon and adjust our existing infrastructure to the
market requirement.

Overview of 2018 and what is your outlook for 2019

The year 2018 was good for us wherein we grew in double digits in various
parameters like Gross Written Premium, Profit after Tax and Investment Income
and was also a year for consolidation of our Oman Operations as we continued to
grow in new markets viz; UAE and Kuwait.

This year we look forward to improving our performance further in our current
areas of operation as well as entering new potential markets inside the region and
outside. Here, we are planning to go for a digital transformation, manage
disruption by bringing in new technologies and innovations.

We are also working towards a digital transformation for making insurance fast,
simple and easy, claims management. Our business partners are our strength and
we are developing technology that brings us closer and improve our business
relationships and cater to their requirements better. There is no single technology
that would provide all the solutions. So we shall try to figure out various
technologies and innovations that best suits our strategy as well as overcome
disruption. So this year is going to be another exciting year for all of us.

Also read – Oman’s Insurance Sector Performance in 2018