Misr Life Insurance Considers Three Banking Offers For Collecting Premiums

Misr Life Insurance targets to implement new payment methods as the company has composed a committee of the financial administration and the technical section, headed by the managing director of insurance affairs. The committee is currently considering offers submitted by three banks for implementing new payment methods through Visa and ATM, in addition to receiving offers from Fawry Company and Egyptian Postal Services Authority, said Sadek Hassan, chairman and managing director of Misr Life Insurance.

The Company has dealt first with the Egyptian Postal Services Authority because it has 180 branches and offices spread across Egypt. The Company studies launching a new payment method through phones next January, said Hassan.

Marketing the Company’s insurance products will be done online within three years after the electronic system is completed.

It is worth mentioning that Misr Life Insurance targets to launch four new insurance products in the upcoming period, increasing its insurance products to 49 ones.