Egyot - In a significant move towards digital transformation in the insurance industry, Misr Insurance and Al Ain Ahlia Insurance Company of the UAE have signed a cooperation protocol aimed at strengthening their collaboration in various key areas.

The signing ceremony, witnessed by Minister of Investment and Foreign Trade Hassan El-Khatib, marks a strategic step to enhance digital capabilities, exchange expertise, and foster innovation within the sector.

The protocol outlines a range of collaborative efforts, including the development of advanced insurance products, the exchange of scientific expertise, and the improvement of training standards. These initiatives are designed to elevate the services provided by both companies and accelerate the adoption of cutting-edge technology in the insurance sector.

El-Khatib highlighted the protocol as a testament to Egypt’s commitment to fostering Arab cooperation and accelerating digital transformation in key sectors, particularly insurance. He noted that this partnership aligns with Egypt’s broader vision to enhance Arab integration and bolster the region’s position in the global digital economy. The collaboration is expected to drive technological progress, innovation, and improved service standards, contributing to sustainable development and greater economic cooperation between Egypt and the UAE.

The minister also emphasized that this initiative supports Egypt’s Vision 2030, which seeks to position Egypt as a regional hub for trade and investment. The protocol’s focus on digital transformation is expected to attract foreign direct investment, create new job opportunities, and enhance the region’s financial services infrastructure, all while improving customer experiences.

Omar Gouda, Board Member and CEO of Misr Insurance, spoke about the importance of knowledge sharing and the development of digital systems in enhancing IT infrastructure and services. He emphasized that the protocol would foster capacity-building programs and exchange of best practices, ultimately boosting the skills of employees in the insurance sector.

Mohamed Mazher, CEO of Al Ain Ahlia Insurance, welcomed the partnership, viewing it as the beginning of further collaboration between the two companies. He stressed that the joint efforts would contribute to the development of more flexible and innovative insurance solutions, positioning the Arab insurance market as a competitive player on the global stage.

This collaboration is a pivotal step towards achieving digital excellence in the Arab insurance sector, ultimately benefitting both companies, their clients, and the broader economic ecosystem.

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