News & Events

The Egyptian Insurance Federation held a signing ceremony for the collection contract and compulsory insurance documents electronically, today, Tuesday, at the Union's headquarters in Dokki, between the Egyptian Compulsory Vehicle Insurance Association and Cashless Plus, for electronic payments.

Mahmoud Samaha, Chairman of the General Authority for Administrative Control, said: We made every effort to create a system capable of avoiding all the previous negatives that the insurance company was exposed to from the system of issuing compulsory vehicle insurance policies.

And he added, based on the approval of the insurance companies on 11/2/2019, to establish an association to manage this insurance branch, which concerns every citizen in Egypt, and this culminated in the issuance of the Financial Supervisory Authority’s Decision No. 252 of 2019 establishing the Egyptian Compulsory Insurance Association. For civil liability arising from motor vehicle accidents.

And according to the unanimous approval of the General Assembly of the Association in its meeting on 29/7/2019 AD, to contract with Cashless Plus Company to collect compulsory vehicle insurance policies and to approve the minutes of the Assembly by the Financial Supervisory Authority.
And he continued: I congratulate you on establishing the assembly, and all the circumstances required a radical solution to all problems through an integrated system with a website, and we thank everyone for their hard work and effort, and I wish you success.

While Mahmoud Al-Sayed, the head of Cashless Plus, said: We submitted an integrated technical offer to issue an integrated compulsory electronic insurance policy, and we completed the work within a few months.
And he pointed out that the authority issued a law establishing the compulsory insurance pool, which includes all insurance companies operating in the Egyptian market, to expedite the completion of compensation for those affected. The compulsory insurance pool has prepared a tender to collect compulsory insurance for vehicles from traffic units.
Under this cooperation, the system for collecting compulsory vehicle insurance documents electronically will be activated, in addition to a contract for the collection of premiums with the Egyptian Compulsory Insurance Group, with the aim of achieving electronic linkage between the database of both the General Administration of Traffic Information Systems and the group, and linking them to the company's database. (Cash Less Plus), and according to this contract, Cash Less Plus provides an electronic collection service for the values of compulsory vehicle insurance policies in Egypt for all vehicle licenses in all traffic units.
This comes in line with the government's policy to develop services for the Egyptian citizen and the FRA's keenness to compensate the citizen for accidents resulting from a faulty vehicle on Egyptian roads.
According to this cooperation, “Cash Less Plus” included the provision of correct and clearer data, so that Al Majma’a for compulsory motor insurance reviews all insurance documents weekly, to improve the service and make available accurate databases for citizens dealing, after modifying and developing the electronic system to facilitate the process of extracting all data related to documents. Through the website of Cashless Plus. Alaa Al-Zuhairi, President of the Egyptian Insurance Federation, confirmed that this system facilitates the process of searching for customer data, and enables the group to obtain the correct technical premiums, and to collect the values ​​of compulsory vehicle insurance policies.