Egypt: New group outlines plans to raise insurance awareness
Source: Middle East Insurance Review | Oct 2015
The newly formed Egyptian Association for the Development of Insurance Awareness (EADIA) has outlined a strategy to increase insurance awareness in the country.
Mr Ahmad Najib, EADIA Chairman, said in an interview with Al Mal News that weak insurance awareness is still the main obstacle hindering insurance growth. To address this, the association has established an overall strategy.
The strategy includes developing insurance awareness courses among players engaged in the financial sector, training in methods to increase insurance awareness, holding conferences and seminars, releasing periodic publications on insurance, and training to raise human resource capabilities to increase efficiency in the insurance sector.
EADIA is also looking at concluding cooperation agreements with non-banking financial organisations. It recently signed an agreement with the Egyptian Society for Risk Management to promote the awareness of risk in customer management and the need to establish risk committees in insurance companies. The deal also aims to raise awareness of the importance of risk managers and risk management in general.
The association has also entered into an agreement with the Financial Services Institute to exchange experiences and increase insurance awareness among workers in different economic sectors. Another agreement has been signed with the Egyptian Insurance Brokers Association to raise awareness.