Egypt – 15 licenses for digital insurance
Wednesday, 01 17 2018, Category: Insurance and Reinsurance, Country: Egypt
Dr. Mohammed Omran, the Chairman of the Egyptian Financial Supervisory Authority said that the authority granted 15 digital insurance licenses to 10 insurance companies in order for them to distribute insurance contracts electronically through the World Wide Web.
Moreover, Dr. Omran added in statements made today that the Authority aims to develop a collaboration protocol with the Ministry of Communications in order to develop the technological and IT infrastructure needed by the Authority in the next period and complete its automated system that includes 180 services.
Furthermore, he clarified that the Authority addressed digital applications in non-banking financial services such as the electronic issuance of standard insurance contracts as well as easing micro-insurance through mobile phones i.e. loan transfer and premium payments.
Source: Amwal Al Ghad