Egypt: Insurers form IT committee as cyber issues grow in importance
Source: Middle East Insurance Review | Dec 2018
The Insurance Federation of Egypt (IFE) is forming a technical committee for information technology and will work with the other technical committees to discuss topics related to IT systems and information in the insurance sector.
Mr Wael Tharwat, chairman of the new technical committee and head of the information systems at Suez Canal Insurance said the establishment of the committee reflects the belief of the management of the IFE of the important role of IT and modern technology in the insurance sector.
IT in the insurance sector is growing more important, especially after the issuance of a government resolution in 2015, which lists the classes of insurance for which policies can be issued electronically to the customer or insurance broker. These include compulsory motor third party liability insurance, travel insurance, short-term life insurance that does not require medical disclosure, and microinsurance.
Mr Tharwat said the aim of the committee is to discuss the challenges faced by the insurance sector in dealing with information and cyber systems, and problems which employees face in automation of the issuance and compensation processes, and others. M