Egypt – 3 insurers start issuing electronic policies
Thursday, 11 10 2016, Category: Insurance and Reinsurance, Country: Egypt
Three insurance companies started implementing the first phase of the electronic issuance of compulsory motor insurance companies at 31 traffic units of the Egyptian republic.
Mr. Jamal Shaibah, the chairman and general manager of a technical company said that “Egyptian Takaful”, “Wethaq insurance” and “Egyptian Saudi insurance House” will start next week the implementation of the electronic issuance system designed by his company in order to eliminate the fake contract phenomenon.
He added that the testing of the system during the past two months helped to uncover 100% of fake contracts and caused premiums to increase by approximately 20%.
Source: Al Borsa