The Capital Market Authority (CMA), which is the regulator for Oman’s insurance sector, has floated a tender for e-payment service for the Dhamani health insurance platform.
The e-payment service will enable transfer of funds between health services providers and insurance policyholders.
The service will be added in the first phase of the Dhamani platform which will be launched in the fourth quarter of 2021, the CMA said in a statement posted on its website.
The e-payment service, the CMA said, will enable the regulators to monitor fund transfers between the parties of insurance relationship to ensure that funds are paid within the specified term as per the health insurance regulations.
Dhamani is an electronic platform for the exchange of information, claims settlement, funds transfer, requests for approvals and verification and audit of insurance coverage between parties of insurance relationship – regulators and supervisors.
The Dhamani platform will enhance the quality of insurance services and the level of transparency in all the transactions. It would also help in providing accurate data on the market conditions, reduce fraud, abuse and misuse to preserve market stability and to promote confidence in the health insurance market.
According to the CMA, Dhamani platform will be implemented in a number of phases due to the size of technical and operational requirements of the platform.
The first phase of Dhamani will commence in the last quarter of 2021 by linking the platform between the government entities related to the health insurance scheme, insurance companies and health services providers for exchange of health insurance transactions electronically.