Estafsar, Egypt’s foremost InsurTech provider, and Al Wataniya, an established insurance company in the nation with notable success across diverse insurance categories since 2020, have announced their official partnership.
This collaborative effort aims to augment insurance penetration levels in Egypt while refining Al Wataniya’s operations and efficiencies.
The partnership serves as a strategic move towards expanding insurance reach in Egypt, which currently lags at under 1%. With Estafsar’s technology, insurance companies will be able to connect with new retail and business consumers, thus contributing to this goal. Al Wataniya, a progressive insurance company with a leading role across various insurance categories within less than three years, aims to widen its customer base and provide more benefits to its customers through this partnership.
Established in 2020, Estafsar has built a reputation as the leading InsurTech in Egypt, committed to fostering growth in the country’s insurance sector. The firm’s prowess in the InsurTech sector is noteworthy, revolutionising industry dynamics and transforming relations with insurance companies, brokers, and beneficiaries.
Al Wataniya, since its inception in 2020, has demonstrated a remarkable track record across various insurance categories. It offers a comprehensive range of insurance products and services tailored to meet business and customer needs, making it a significant player in Egypt’s insurance sector.
The partnership will enable Al Wataniya to widen its product reach by capitalising on Estafsar’s digital distribution tools. This will likely lead to increased reach, new leads, and the potential to enhance the benefits of its insurance branches. It also represents a significant vote of confidence in Estafsar’s superior technology and its potential to positively impact the insurance market, marking its third collaboration with a P&C insurance company.
Estafsar CEO Amr Darwish said, “We are thrilled to partner with Al Wataniya, a reputable and dominant insurance company in Egypt. This partnership is a testament to our expertise in the InsurTech sector and our ability to provide innovative solutions to enhance the insurance industry. We are confident that this partnership will positively impact Estafsar and Al Wataniya as we work together to revolutionise the insurance industry in Egypt.”
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