The potential of microinsurance

The congress of regional insurance brokers took place in Cairo on 19 and 20 May 2015. The 350 participants took part in the debate on microinsurance.

The various speakers highlighted the potential that this type of insurance represents in Egypt. According to Michael J. McCord, president of the Microinsurance Network and the Microinsurance Centre, microinsurance is likely to attract 80% of Egyptians. To date, only 0.25% of Egyptian people use it.

Abdel Raouf Kotb, president of the Egyptian insurance federation, on his part, deems that defining a comprehensive specific legislative framework is required to develop this market.
The federation he heads has set up working groups tasked with reflecting over ways of promoting these assurance plans among disadvantaged populations.