The Financial Regulatory Authority agrees on delivering “Qershak el Abyad” insurance policy through e-channels

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Fawry Insurance Brokerage and AIG Egypt Insurance launch “Qershak el Abyad” digital policy

Fawry Insurance Brokerage partners with AIG Egypt Insurance Company
to launch the digital insurance policy “Qershak el Abyad” through
166,500 Fawry outlets and e-wallets, allowing the insurance policy for
more than 30 million Egyptian Fawry users throughout Egypt. The policy
provides 75k EGP insurance coverage upon accidents of the candidate,
with a monthly premium starting at 10 EGP.

The Financial Regulatory Authority has agreed on the electronic
distribution partnership between AIG Egypt Insurance and Fawry
Insurance Brokerage, which offers delivering “Qershak el Abyad” policy
through Fawry e-channels, which include 166,500+ outlets and e-wallets
of major Egyptian banks and mobile companies.

On his part, Joseph Bijani, Vice Chairman of AIG Egypt Insurance
Company, indicated that “Qershak el Abyad” insurance program for
personal accidents also allows the beneficiaries to cover their children’s
education expenses upon death or total disability as a result of an
accident, as well as recovery expenses. The subscription for those willing
to purchase “Qershak el Abyad” insurance policy starts at 10 EGP per
month and up to maximum insurance coverage for a customer is 75K
EGP upon death or total disability in accidents.

“We seek to provide distinguished services for customers interested in
purchasing insurance policies upon personal accidents, to facilitate
payment methods, and to maximize the return of digital transformation
by investing our new partnership with “Fawry Insurance Brokerage”,
which guarantee customers to obtain insurance service faster and easier
especially in the current pandemic circumstances that require avoiding
crowds.” Bijani added.

Engineer Ashraf Sabry, Founder and CEO of Fawry, stated that the
approval of the Financial Regulatory Authority on this product comes
within the framework of the authority’s ongoing initiatives to avail
financial services to the most needy in support of the state’s policy
towards financial inclusion.

He continued: “Fawry Insurance Brokerage, a subsidiary of Fawry, will
play a genuine role in marketing and selling the insurance policies of
“Qershak el Abyad” program to millions of Egyptians and payments will
be available through more than 166,500 Fawry machines and
through e-wallets, so that customers will receive their policies
electronically on mobile phones easily, this in cooperation with AIG
Egypt Insurance Company, in a step that enhances financial inclusion in
Egypt according to the plans and directives of the Egyptian government.”

Worthy mentioning that Fawry Insurance Brokerage is a subsidiary of
Fawry, the leading platform for digital transformation and e-payments,
serves more than 26.2 million customers per month, with more than 3
million transactions per day for more than 819 services including
telecom bills, tickets and tourism, online payments, various utilities, and
others. All through one big network of 35 banks and more than 166,500
outlets across Egypt, 2500+ branches for post offices. And more than 15
mobile phone wallets for banks and mobile companies in addition to
“FawryPlus” outlets, as well as “myFawry” online gateway and
application.

AIG is the world’s leading insurance organization, with more than 90
million customers worldwide — a multinational footprint serving clients
in over 200 countries and jurisdictions. With one of the industry’s most
extensive ranges of products and services, deep claims expertise and
excellent financial strength.

AIG Egypt Insurance Company is a member company of AIG
International Group, offering AIG products and services in Egypt; AIG
Egypt is an Egyptian joint stock company registered with the Financial
Regulatory Authority under no. 8 and registered with the commercial
register under no. 63482; For more information: www.aig.eg.

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