AMIG Signs 7 Contracts With Charities Over Providing Medical Micro-insurance Services

Arab Misr Insurance Group (AMIG) has received the medical micro-insurance policy from the Egyptian Financial Supervisory Authority (EFSA). AMIG will cooperate with non-governmental organizations to provide insurance coverage for all Egyptians especially for low-income people who are unable to afford the hospitals’ expenses of surgeries and emergency cases.

AMIG signed protocols of cooperation with a number of charities as promoting for micro-insurance services shall be through charities only, said Makeen Lotfy, Business & Products Development DGM at AMIG.

Lotfy told Amwal Al Ghad that AMIG has dealt with a charity to help in raising insurance awareness and tell people about the advantages of medical insurance. In addition, the Company signed contracts with four charities to distribute insurance policies in the places of these charities so as to expand coverage to reach low-income families. AMIG also agreed with two charities to donate or bring donators to pay for the insurance premiums on behalf of low-income families.

AMIG is also negotiating with 50 charities, Lotfy said, affirming that the Company focuses on extending insurance coverage in Upper Egypt region.

AMIG has conditioned on charities to insure at least 25 families in the first month. The Company targets 500,000 customers for the medical insurance policy in the first year.

AMIG’s medical micro-insurance project provides up to EGP 3500 for each individual or family of the fees of 300 hospitals across Egypt and costs of medicines and surgeries. The value of subscription to this service is EGP 200 for an individual, EGP 400 for a three-member family and EGP 500 for a five-member family. This service covers the costs of moving from and to the hospital with up to EGP 100 for each year.