In line with the government efforts to transfer to E-Government, CMA is working to transfer its administrative and technical frameworks to electronic windows which fulfills the requirements and needs of concerned parties in the capital market and insurance sectors. CMA is working on ‘E-Insurance Gate’ project that will contribute in facilitating a lot of administrative and technical works related to regulating and supervising the insurance sector.
Qais Al Suhi, Specialist, Directorate of Insurance Supervision explained in his presentation for the E-transformation Committee members that the E-gate will enable browsers to go through insurance prices of all insurance companies transparently wich is considered an added value by introducing insurance companies and ways of contacting them to the public. It will also promote competition between insurance companies to present best quality services with fair prices. The Gate will enable companies to enter their prices (comprehensive and third-party insurance) that will be directly connected with the database of ROP and insurance companies.
CMA confirms that this electronic directions comes according to gradual plans and policies. As per Al Suhi’s presentation, the e-transfer will start internally first as all CMA’s dealings with insurance companies, agents and brokers will be electronic in order to insure building a complete database. This will qualify the programme to provide larger e-services that can cover all insurance services, products and dealers.
Al Suhi pointed that the short term plan includes files and forms related to opening new license register, renewing existing license, complaint form, and also an interactive page that enables companies to enter financial data and important reports.
He added; ‘on the long-term plan, there is a serious direction to get benefit of some smart phones applications that will work on protecting all policyholders by providing direct payment and deduction applications for subscription operations, and also will enable applying for insurance policies electronically’.