The Egyptian Cashless Plus company working in the field of electronic payment and collection, which was recently launched in the market, based on the experiences of those in charge of it, announced its contract with major insurance companies in the Egyptian market to mechanize traffic and issue a compulsory electronic insurance policy for vehicle owners.

 

In a statement, the company confirmed that it had received a copy of the Banks and Finance website and magazine that it had recently contracted with major insurance companies in the market, including Misr Insurance, Delta Insurance, Egyptian Arab Insurance Group, Wethaq Takaful Insurance, Egyptian Takaful Insurance, Egyptian Saudi Finance House, Misr Insurance symbiotic and others.

 

The statement added that the goal of this contract, which comes within the framework of the general policy of the Egyptian state in the trend towards digital transformation and automation of the insurance system and the provision of traffic services from one window, to ensure that the burden on citizens is reduced, the payment of the due installment only and the elimination of corruption.

 

He pointed out that the mechanization of traffic units, which totals 200 units, will help increase the annual revenue of the Egyptian state and insurance companies to reach more than 2 billion pounds.

 

The mechanization work comes after the General Directorate of Traffic Systems contracted with “Cash Less Plus” and compulsory insurance companies authorized to issue electronic insurance documents under the umbrella of the Egyptian Insurance Federation and the Financial Supervisory Authority, and cooperation is underway with 18 insurance companies authorized to provide this service.