OMAN INSURANCE COMPANY X CASE STUDY 2022

Running head: A CASE STUDY OF OMAN INSURANCE COMPANY X
A Case Study of Oman Insurance Company X
Name of the Student
Name of the University
Author’s note

A CASE STUDY OF OMAN INSURANCE COMPANY X2
Acknowledgement
I would like to thank my University and the professor for allowing me to contribute as well as
providing opportunity to complete my research despite of all challenges that I have faced. It
will not forget the efforts that are made by the professors and other for guiding me with
patience, guidance and understanding. I would not have completed this research without their
guidance and understanding and you are all special to me.

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Abstract
The research mainly focuses on the case study of The Oman Insurance Company X that has
focused on the targeted market as well as the general description of the insurance strategies
that are provided to the insurance holders. The research intends to discuss on the utility and
advantage of healthcare insurance in today’s competitive environment. The opportunities and
threats of the health insurance in the context of the organisation is also analysed and assessed.
The different environmental health insurance policies help in the promotion of safe
environment that would decrease the riskiness of life of the individuals of the population. The
competitive advantages of healthcare insurance services are found out in the light of Oman
Insurance Company X. There could be many aspects of human health and disease that are
governed by the different factors of environment. It has been observed that the people can go
cashless anytime and therefore might have difficulties in paying for the expensive bills of the
hospitals. It has been seen that these factors have an impact on the individual’s uptake of
different preventive services. The analysis of the responses have been provided in the below
part along with their results. Moreover, the importance of technology has been realised by the
company as they are prone to certain obstacles and these obstacles would be mitigated by the
hell of technology. The study found that the development of health insurance industry in
Oman is direct and the division features a shining future.

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Table of Contents
Chapter 1: Introduction..............................................................................................................6
1.1Background of the study.......................................................................................................7
1.2 Problem statement..............................................................................................................10
1.3 Aims and objectives......................................................................................................11
1.3.1 Aim..............................................................................................................................11
1.3.2 Objectives....................................................................................................................12
1.4 Research Question..............................................................................................................12
1.5 Scope of the research.........................................................................................................13
Chapter 2: Literature Review...................................................................................................14
2.1 Environmental health insurance.........................................................................................14
2.2 Pricing and competition.....................................................................................................16
2.4 Opportunities and Threats..................................................................................................18
2.3 Evaluation of healthcare for competitive advantage – case of Oman Insurance Company
X X...........................................................................................................................................19
2.5 Competitive strategy for performance improvement.........................................................21
2.6 Summary of the Literature.................................................................................................22
Chapter 3: Research Methodology...........................................................................................23
3.1 Introduction........................................................................................................................23
3.2 Research Philosophy..........................................................................................................23
3.3 Research Approach............................................................................................................24

A CASE STUDY OF OMAN INSURANCE COMPANY X7
tests, payment of medical fees by the company, long-term policies up to 61 years and wide
range of beneficial services at affordable prices.
1.1Background of the study
Healthcare insurance is a kind of insurance service that is used in paying for the
healthcare of the customers. The healthcare services cover a wide range starting from a
routine check-ups to serious illnesses or injuries (Kose, Gokturk and Kilic 2015). The
healthcare services also consist of other preventive services that are required for the perfect
health of the customers. The health insurances are bought through the payment of a premium
amount that is included in the monthly bill of the customers. Therefore, it is evident that the
customers receive medical services in return for a small portion of their costs.
The health care benefit policies vary from one company to another. The customers
should always look into the benefits as well as limitations of the respective plan before opting
for it. Most of the healthcare plans requires the customers to receive their care from a
particular doctor or a hospital (Gruber and McKnight 2016). The customers generally show
the details of their insurance policies or plans to the doctors. Through this information, the
doctor or hospital would charge the insurance company in lieu of the services that are
received by the customers.
Normally, health insurances come with insurance cards which contain the proof of the
insurance plan or policy of the particular customer. In the course of the process of insurance,
the doctors or the hospitals generally make contracts with the insurance companies and
become part of the network of those companies (Agyepong et al. 2016). These contracts
elaborate all the regulations that are to be followed with respect to the medical services
provided by these doctors and hospitals. The insurance companies pay the bills of these
medical services under terms and conditions. Therefore, health insurances can prove to be

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beneficial for the customers as they get the complete medical charge for their treatments
through spending of only a portion of their money.
The first health insurance firm was established way back in 1920s. During that period,
individual hospitals offered pre-paid plans to the help the patients. According to these plan,
the patients can get medical services free of cost and the hospitals used to bear these medical
expenses (Abraham, Royalty and Drake 2016). In the later years, the health insurance had
been sponsored by the employers which became a commonplace during that time. Employers
mainly started this beneficiary service for compensating the low wages that they paid to the
workers. They also started this for recruiting employees during huge demand for jobs and less
supply of workers.
The earliest form of health insurance was named as “accident” insurance. According
to this insurance plan, the concerned authority is required to pay a specific and pre-
determined amount to the policyholder only during accidents (Abraham, Royalty and Drake
2016). This was the primary insurance system available in the United-States during the
middle of 1800s. After a long time during 1900s, the insurance plan started covering a range
of services and was first started in Texas. The plan that had been developed in Texas, covered
all kinds of injuries and sicknesses and not only accidents.
The case study of Oman Insurance Company X will be taken as a reference in order to
study the background of healthcare insurance (Omanutd.com 2019). The company has been
operating for more than 32 years in the Oman market. The company has sound financials in
its business and believes in generating profitability through sustainable development. The
company through the years have also been recognised to be one of the best companies in the
department of customer service (Omanutd.com 2019). Employers mainly started this
beneficiary service for compensating the low wages that they paid to the workers. The