The Financial Regulatory Authority (FRA) has granted preliminary approval for two artificial intelligence-driven insurance projects for its regulatory sandbox, the Authority's regulatory testing environment for FinTech applications.
In a statement, the FRA said that the first project, submitted by EG InsurTech for electronic applications, systems and software services in partnership with Assurex Insurance Brokerage, will pilot “Ameen”, an AI assistant designed for insurance platforms. EG InsurTech is a digital platform based in Egypt that provides solutions and services for the insurance industry, focusing on digital policy issuance, claims management, and remote pre-risk surveys.
The second, submitted by Allianz Egypt Insurance in collaboration with Olimi AI, will test an AI-powered voice agent and chatbot platform aimed at improving customer interaction and service delivery. Olimi AI provides real-time voice agents in more than 20 languages to handle global inbound and outbound interactions for call centres, insurance, FinTech, real estate, ihealthcare, debt collection, logistics, e-commerce, and any business with high call volumes.
FRA chairman Dr Islam Azzam reaffirmed the Authority’s commitment to providing institutional and technical support for innovative technological solutions that advance the non-banking financial sector. He also said that leveraging AI tools enables better analysis of customer trends, preferences, grievances and product demand—generating key indicators to elevate service efficiency and help clients select insurance coverage tailored to their needs.
Mr Ahmed Khalifa, Executive Director of FRA Sandbox, stated that approving the two new projects brought the total number of provisionally accepted initiatives to seven in one year. The other initiatives include:
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GIG Egypt with its remote inspection platform that digitalises the car insurance inspection process. The insurer is the first company to join the FRA Regulatory Sandbox.
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Orient Insurance Company-Egypt with a remote vehicle inspection & damage assessment solution, developed in collaboration with EG InsurTech.
The FRA sandbox was launched in November 2024 and approved its first project (from GIG Egypt) in October 2025.