Egypt – Database started for 8 million vehicles
Thursday, 04 20 2017, Category: Insurance and Reinsurance, Country: Egypt
Mr. Ibrahim Labib, deputy head of Motor Insurance Committee of the Insurance Federation of Egypt said that the motor insurance sector faces 3 main problems. First, the premiums are not fully paid to insurance companies. Second, there is a difference between the policy sent to the customer and the copy saved at the insurance company. Third, claims are not fully settled. Mr. Labib added during the FAIR Marketing Conference that the electronic issuance of insurance will solve the previously mentioned problems but will necessitate building a strong database for all vehicles in Egypt whether for cars or autobuses numbering 8 million and 600 thousand vehicles as well as introducing a special tariff. This process effectively started now.