Egypt’s Insurtech Startup, Estafsar Launches Online Platform

Egypt’s Insurtech Startup, Estafsar Launches Online Platform

Estafsar, an Egyptian insurtech startup that provides an online insurance directory that connects clients with the best insurance companies and brokers in Egypt, has today launched its online platform using digital tools. The goal is to integrate all stakeholders in Egypt’s insurance industry into a single digital network to increase transparency and scalability.

Also, the insurtech startup offers innovative tech solutions to current and new stakeholders in the insurance industry, with the primary goal of increasing insurance penetration in Egypt.

Amr Darwish, Co-Founder, and CEO at Estafsar explained the reason for the launch in a chart with Waya. “When we launched Estafsar, our goal was to increase the penetration of the insurance industry in Egypt through the adoption of innovative technological solutions.” We want to bring together customers, brokers, and insurance companies on a secure digital platform to help the Egyptian insurance market become more efficient, transparent, and accessible to everyone.”

Estafsar was founded by Abdelrahman Ghareeb and Amr Darwish in 2020 with the goal of improving Egyptian consumers’ and businesses’ financial security. Its technological products and services adhere to the Financial Regulatory Authority’s guidelines and goals (FRA).

The startup has partnered with insurance companies like Royal Insurance and GIG, also, another agreement will be announced next month.

“We are currently focused on expanding our broker network and insurance company partnerships and onboarding them to the digitized insurance industry. Our next steps will include additional technological infrastructure development as well as an addition to digitizing operations by incorporating elements such as pricing automation and claims settlement,” Darwish added.

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 alike.