Market Research, Intellectual Capital Key Factors In Insurance Development
Abdel Khalek Raouf Khalil, secretary general of the General Arab Insurance Federation, said the Arab insurance markets witnessed notable growth rates last year as the insurance market grew by 21% in Egypt and by 14% in United Arab Emirates. The researches and polls made about the market are important in order to develop the insurance products in a way to cater to the needs of customers, he noted.
On the sidelines of the Second Regional Forum on Medical Insurance & Healthcare, Khalil affirmed the importance of intellectual capital and expertise in improving the market. He also stressed the importance of a coherent legal framework to organize the work of healthcare market under the supervision of the Egyptian Financial Supervisory Authority (EFSA).
He noted that competition among insurance companies has resulted in providing various products and services for customers.
The government finances provided for healthcare sector does not cover all the societal classes; therefore, insurance institutions are being established to achieve integration. The General Arab Insurance Federation, Insurance Federation of Egypt and the Egyptian Healthcare Management Society signed a protocol of cooperation in order to achieve integration.
