Muscat: The first firm focused on handling health insurance claims, "Green Line Health Insurance Claims Management Company," was founded on Sunday.
It is the first Omani business with a license for this activity, and it is guided by a national vision that is in line with the guidelines of Oman Vision 2040. Its goals are to deliver services with global standards utilizing the most recent technologies, as well as to improve and enable national skills so they may play a significant role in this emerging sector.
The action occurs as the health insurance market is expanding rapidly and there is an urgent need for innovative strategies to improve the effectiveness of healthcare delivery.
Due to his extensive experience in the health insurance industry, Faisal Hamad Al Rashdi, the cofounder and CEO of Green Line Insurance Services, said that he had witnessed the operational difficulties facing this sector, whether at the level of insurance firms, healthcare providers, or even policyholders.
Al Rashdi made the decision to start this business because there was a clear need for claims management, particularly since the Financial Services Authority (FSA) had just announced the opening for applications to practice health insurance claims management as an independent and regulated activity. This offered a chance for the nation to create a focused local firm that aids in the development of this crucial industry.
He said that the market was overly reliant on foreign firms managing operations from outside of Oman because there was a dearth of specialized firms in the field of health insurance claims administration. In addition to the potential for the leakage of highly sensitive health information via outside systems, this had an impact on the speed and caliber of services. The Financial Services Authority has taken the lead in enacting unambiguous legislation to safeguard this data within Oman.
He pointed out that the firm provides a dependable resource that is managed by national skill sets and meets market demands because it is close to its clients, which has a direct impact on the caliber of its work and the pace at which transactions are completed.
In terms of the market's response to this initiative, Faisal Al Rashdi stated that it is normal for any industry to experience some difficulties when entering a period of change, especially when the market has established long-standing working relationships with outside parties who have been managing this activity for decades. In addition to complete adherence to national laws, he emphasized the need to increase efforts to foster trust and demonstrate preparedness in offering top-tier services that satisfy the demands and goals of particular groups.
Regarding the nature of the initiative, he said that the firm provides a complete suite of services in health insurance claims management that complies with global norms. These include efficient and precise medical claims administration, medical and administrative verification using intelligent systems to identify duplication and mistakes, which contributes to improved time management. It also includes smart reporting and data analysis that assist insurance companies in making decisions based on accurate data, as well as medical network management, which includes contracting with hospitals and clinics and ensuring the quality of care provided to policyholders.
He stressed the company's reliance on contemporary technologies and digital solutions, such as artificial intelligence, for speedier data analysis and the automation of repetitive tasks utilizing robotic process automation (RPA), which minimizes human mistakes and saves time and effort. Additionally, it is completely integrated with the Financial Services Authority's national platform (Dhamani platform), which has been authorized for complete electronic functioning.
To ensure total control over data security, he stated that the firm handles data securely by storing client data only on its own servers, not on external servers. It makes use of the best cybersecurity measures, such as firewalls, intrusion detection and prevention systems, and advanced data encryption during transmission and storage. Furthermore, in accordance with local and international laws and regulations pertaining to data protection, access permissions are granted on a restricted and well-considered basis depending on the employees' job roles, along with periodic reviews to ensure ongoing compliance.
