Egypt – Insurance increases financial inclusion
Monday, 03 05 2018, Category: Insurance and Reinsurance, Country: Egypt
Egypt will host the second conference of the Federation of the Afro-Asian Insurers and Reinsurers (FAIR) on April 23-24 under the title of “Life Insurance and Financial Inclusion” with the participation of 50 countries.
In statements on Sunday, Secretary General of FAIR Adel Munir said the second forum will give a platform for exchange of dialogue and expertise as per the parties to the financial inclusion process.
He highlighted the need for the presence of an insurance coverage to provide financial resources that could help in alleviating the financial burdens on the beneficiaries.
Munir also said Egypt has taken organizational and legislative steps to cope with the rapid development of information technology and communication, a matter which could help in expanding the scope of issuing the insurance documents.
He also asserted that the financial inclusion policy is the main motive for increasing demand on private insurance. However, large numbers of the population do not have enough awareness on the benefits of insurance.
Source: Al Wafd