The Insurers Federation of Egypt (IFE) has urged domestic insurers to adopt global innovations in genetic testing, artificial intelligence (AI), and personalised medicine to modernise the sector's risk management and underwriting practices.
In its latest weekly bulletin, the IFE emphasised the need for insurance companies to build technical capabilities, upskill in data analytics, and integrate health sciences to fully leverage emerging health technologies.
According to the bulletin, advances in genetics, AI, and health data analytics are rapidly reshaping the global life and health insurance landscape. Genetic testing provides critical health insights that enhance underwriting accuracy, optimise prevention and early detection programs, and enable more equitable policy pricing while ensuring the long-term sustainability of insurance portfolios.
However, the IFE cautioned against over-reliance on genetic data alone. It stressed that genetic information should be treated as part of a broader, holistic risk assessment framework that incorporates medical history alongside behavioural, environmental, and lifestyle factors.
Looking ahead, the Federation noted that the integration of AI and predictive analytics will enable insurers to better understand complex health patterns, design prevention-focussed products, and significantly improve the overall customer experience.