Estafsar, the first and leading insurtech provider in Egypt, has officially partnered with Al Wataniya, a prominent and established major insurance company in the country that has proven accelerated success in different spectrums of insurance categories since 2020, in a move that aims to increase insurance penetration levels in Egypt and enhance the efficiencies and operations for Al Wataniya.
The partnership, announced on April 2023, highlights Estafsar’s strength in the Insurtech sector in Egypt, revolutionizing the industry dynamics with its various stakeholders, from insurance companies to brokers and beneficiaries. The partnership is also expected to benefit Al Wataniya, as the company seeks to enlarge its customer base and cooperate with prospective clients to maximize its insurance branches’ benefits.
The partnership is a significant step in achieving Estafsar’s goal of increasing insurance penetration levels in Egypt above its current level of below 1 percent by enabling insurance companies to reach new retail and business consumers using Estafsar technology. Al Wataniya is a forward-thinking insurance company that has established itself as a leader in many insurance categories in less than three years. With this partnership, it will further enhance its products and services and provide more benefits to its customers.
One of the key benefits of the partnership is that it will enable Al Wataniya Insurance’s products to reach a wider audience by leveraging Estafsar’s digital distribution tools. This will allow the company to increase its reach, add new leads, and cooperate with prospective clients, maximizing its insurance branches’ benefits.
The partnership between Estafsar and Al Wataniya is a vote of confidence in Estafsar’s superior technology and positive role in the insurance market with the collaboration with a third P&C insurance company.
“We are thrilled to partner with Al Wataniya, a reputable and dominant insurance company in Egypt,” said Amr Darwish, CEO of Estafsar. “This partnership is a testament to our expertise in the Insurtech sector and our ability to provide innovative solutions to enhance the insurance industry. We are confident that this partnership will positively impact Estafsar and Al Wataniya as we work together to revolutionize the insurance industry in Egypt.”
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