News Middle East26 Oct 2020

Egypt:Insurance trade body to establish compensation technical committee

| 26 Oct 2020

The Insurance Federation of Egypt (IFE) intends to form a new technical committee to study insurance compensation cases, said the industry association's chairman, Mr Alaa El-Zoheiry.

He said that the new committee will look at compensation cases in the Egyptian and international insurance markets, with the aim of developing insurance business on the one hand, and ensuring that the criteria for treating clients fairly are applied. The move will be positive for the image of the sector and allow insurers to reach new client categories, according to a report by Al Mal.

Customer needs

Mr El-Zoheiry indicated that the work plan of the technical committees of the Federation includes studying the needs of customers, and providing the required insurance plans.

To keep pace with such needs, the IFE holds meetings and seminars with the bodies representing the various economic sectors in the country such as chambers of commerce, ministries, trade bodies, etc. There is also cooperation with international reinsurance companies which help to train members of IFE technical committees on new insurance products and services.


 

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