Egypt's Financial Regulator Tests Digital Insurance and ID
The General Authority for Financial Control in Egypt announced the initiation of a successful pilot test for two technological projects. The first aims to remotely estimate damages in car insurance through "GIG Egypt," reducing the need for on-site visits and speeding up claims processes. The second utilizes the electronic passport "ePassport" to enable identity verification of foreigners using NFC technology, making non-bank financial services such as insurance and investment accessible to non-Egyptians. The authority continues to support financial innovation and strengthen the sector’s position regionally, providing a flexible testing environment and regulatory support for startups and innovators.
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