Estafsar, an Egyptian insurtech startup, launched their online platform using digital tools with the aim of integrating all stakeholders in Egypt’s insurance industry into one digital network to bring transparency and scalability.
Estafsar provides innovative tech solutions to assist current and new stakeholders in the insurance industry with the primary goal of expanding the insurance penetration level in Egypt.
“When launching Estafsar, we had the goal of increasing the insurance industry’s penetration level in Egypt through the adoption of innovative technological solutions. We aim to bring together customers, brokers and insurance companies into one secure digital platform to advance the Egyptian insurance market with the vision of supporting it in becoming more efficient, transparent and accessible to all,” Amr Darwish, Co-Founder and CEO at Estafsar, told WAYA.
The startup launched in March 2022 with a mission to increase the financial protection of Egyptian consumers and companies. Estafsar’s tech products and services comply with the guidelines and goals of the Financial Regulatory Authority (FRA).
The startup also partnered up with insurance groups Royal Insurance and GIG, and is announcing another agreement next month.
“While we are currently focused on expanding our broker network and insurance company partnerships and onboarding them to a digitized insurance industry, our next steps will involve further development of the technological infrastructure. This is in addition to digitizing the operations side of things by incorporating elements such as pricing automation, and claims settlement,” Darwish added in his conversation with WAYA.
For end customers, Estafsar is a one-stop digital shop for a broad audience who might otherwise be hesitant to look into what is available. The ease of access to all information and its clear, user-friendly format appeal to individuals and businesses.
The startup also partnered up with insurance groups Royal Insurance and GIG, and is announcing another agreement next month.
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