Egypt-based insurtech firm Estafsar has cast an alliance with insurance coverage firm Al Wataniya to drive the development of the sector within the nation.
Below the partnerships, each companies will work collectively to spice up the degrees of insurance coverage penetration in Egypt and enhance Al Wataniya’s efficiencies and operations, reported ZAWYA.
The collaboration displays Estafsar’s functionality in Egypt’s insurtech house, thereby enhancing the corporate’s relationships with its varied stakeholders, together with insurance coverage suppliers, brokers and beneficiaries.
It’ll additionally assist Al Wataniya, which plans to increase its buyer base and type partnerships with potential purchasers to offer its insurance coverage enterprise with further advantages.
Al Wataniya will additional have the ability to develop its services, via the brand new alliance.
As well as, the alliance allows Estafsar to attain its goal of boosting insurance coverage penetration ranges in Egypt above its current degree of lower than 1% attain.
So as to obtain this, Estafsar intends to supply its expertise to assist insurance coverage corporations so as to add new retail and enterprise clients.
The partnership will additional see the acceptance of Al Wataniya Insurance coverage’s choices by a wider buyer base via using Estafsar’s digital distribution instruments.
Estafsar CEO Amr Darwish stated: “This partnership is a testomony to our experience within the Insurtech sector and our skill to offer progressive options to boost the insurance coverage trade.
“We’re assured that this partnership will positively impression Estafsar and Al Wataniya as we work collectively to revolutionise the insurance coverage trade in Egypt.”
