Estafsar and Al Wataniya partner to boost insurance innovation in Egypt
By Delisha Fernandes
Estafsar, an InsurTech provider in Egypt, has officially partnered with Al Wataniya, an established insurance company that aims to increase insurance penetration levels in Egypt and enhance the efficiencies and operations for Al Wataniya.
The partnership, announced on April 2023, highlights Estafsar’s strength in the Insurtech sector in Egypt, revolutionising the industry dynamics with its various stakeholders, from insurance companies to brokers and beneficiaries. It is also expected to benefit Al Wataniya, as the company seeks to enlarge its customer base and cooperate with prospective clients to maximise its insurance branches’ benefits.
The collaboration is a significant step in achieving Estafsar’s goal of increasing insurance penetration levels in Egypt above its current level of below 1% by enabling insurance companies to reach new retail and business consumers using Estafsar technology.
Al Wataniya is a forward-thinking insurance company that has led many insurance categories in less than three years. With this partnership, it will further enhance its products and services and provide more benefits to its customers.
One of the key benefits of the partnership is that it will enable Al Wataniya Insurance’s products to reach a wider audience by leveraging Estafsar’s digital distribution tools. This will allow the company to increase its reach, add new leads, and cooperate with prospective clients, maximising its insurance branches’ benefits.
“We are thrilled to partner with Al Wataniya, a reputable and dominant insurance company in Egypt,” said Amr Darwish, CEO of Estafsar. “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.”