AMIG Deals With Fawry In Marketing New Insurance Products

Arab Misr Insurance Group (AMIG) has signed a contract with Fawry Banking and Payment Technology Services to market its new package of insurance products in the Egyptian market.

Makeen Lotfy, Business & Products Development DGM at AMIG, said some of the insurance products are new to the Egyptian market. Under the agreement, AMIG’s products are offered at Fawry’s 18,000 outlets spread across all governorates in Egypt in pharmacies, stores and Hypermarkets.

Lotfy added that AMIG targets to increase its customer base and facilitate the administrative procedures of insurance services. Customers will be able to buy insurance policies from the nearest outlet at 24/7. Fawry also offers delivery service by delivering insurance policies to customers free of charge for the first time in Egypt.

The new insurance package includes various insurance policies so as to cater to the needs of customers including road insurance for cars’ owners as well as insurance policies for pharmacists, lawyers and dentists which cover their offices or clinics against all risks. There are also personal and professional liability insurance policies for the employees with cheap premiums not exceeding EGP 150 annually.

AMIG achieved premiums of EGP 302.9 million in FY 2011/2012, registering an increase of EGP 29.4 million (11%) from a year earlier.