Egypt – Life forum recommends technology use and bancassurance
Thursday, 04 07 2016, Category: Insurance and Reinsurance, Country: Egypt
The 1st FAIR Life Insurance Forum had a number of important concluding recommendations in order to increase the growth of insurance activity in the market through a range of actions the main of which is the collaboration between insurance companies and technology companies in order to support the competitiveness when new policies are issued.
The recommendations included improving bancassurance regulations between the Egyptian Financial Supervisory Authority and the Central Bank taking into consideration that 75% to 80% of the life insurance portfolio originates from bancassurance.
The sessions of the forum which lasted for two days under the sponsorship of the “Federation of Afro-Asian Insurers and Reinsurers” and the Insurance Federation of Egypt under the title “The Changing Landscape of Life Insurance” recommended the use of information technology in order to help bancassurance succeed.
Source: Al Borsa