Despite burdened financial tightness, Oman Insurance Company (OIC) has announced to actively speed up claims payments on hospitals. OIC has already initiated and moved payment of more than Dh100 million for the first week of April.
Jean-Louis Laurent Josi, the CEO of Oman Insurance Company, said that they stand in solidarity with their partners in the unprecedented times of coronavirus pandemic, and are going to continue accelerating the payments as long as its feasible. With over 8,000 cases in the United Arab Emirates, providers rely heavily on the insurers to expedite claims payments, as most of the cashflow for medical providers come from insurance claims.
This decision receives warm welcome from hospitals and medical providers across UAE along with the support of other insurers in the region to help manage costs for medical goods, critical protective equipment, and services. The prospect of alleviating large financial burdens will help extend lifeline to providers.
OIC is a leading insurance solution provider in the Middle East and their decision to accelerate claims payments will help move healthcare and frontline workers immensely.