The Insurance Federation of Egypt (IFE) emphasized that achieving inclusive insurance and closing the protection gap are top strategic priorities for developing the Egyptian insurance market and strengthening its contribution to national economic and social growth.
In its weekly bulletin titled “Inclusive Insurance as a Tool for Closing the Protection Gap”, the federation stated that inclusive insurance is not just a financial product, but a developmental mechanism that protects individuals and businesses from risks while supporting the stability of the national economy.
According to the federation, inclusive insurance refers to affordable and sustainable insurance and savings products made accessible to all adults through regulated providers in a responsible manner.
The concept targets underserved and unserved markets, both in developing and developed economies. Among its core components is microinsurance, which specifically serves low-income groups and informal workers, providing them with essential financial protection.
The IFE noted that realizing true inclusivity requires an integrated approach combining public awareness, product innovation, and strong public–private partnerships. The federation continues to collaborate with the Financial Regulatory Authority (FRA) and relevant stakeholders to enhance insurance awareness and expand coverage among women, youth, and small and medium enterprises (SMEs).
Moreover, the IFE is working to remove regulatory and procedural barriers by promoting digital transformation and simplifying processes related to policy issuance, premium collection, and claims handling — aiming to build a more inclusive, efficient, and sustainable insurance market in Egypt.