Egypt: Misr Emirates Takaful to set up special department to liaise with brokers
Source: Middle East Insurance Review | Mar 2020
Misr Emirates Takaful Life Insurance intends to launch a new department for insurance brokers, which may be either companies or individuals, to serve them and facilitate ways of dealing with them, as they play the most important role in the production cycle of the insurance sector, especially the life business.
Dr Ayman El-Alfy, managing director of Misr Emirates Takaful, said a plan has already been put in place to develop dealings with insurance brokers, according to local media reports.
He added that the company carries out business with 20 insurance brokerage firms and 42 free individual brokers, and seeks to double the numbers. He indicated that Misr Emirates Takaful aims to maximise interaction with the insurance brokers, contracting with them, because of their influence and direct interaction with clients.
He will be meeting insurance brokers to find out how to better serve them and their most important requirements.
Last year, Misr Emirates Takaful received contributions totalling EGP107m ($7m). The target is to reach contributions of EGP150m this year, which would represent a growth rate of 40% from last year. M