Egypt Post has signed a protocol of cooperation with the Egyptian Compulsory Insurance Pool (ECIP) to enable insurance compensation payment through nationwide post offices. The protocol was inked on the sidelines of the Microinsurance Conference, held on March 13-15 in Luxor.
Under the protocol, people can collect insurance compensations from post offices, mobile post offices, postal kiosks, and ATMs of Egypt Post and other banks, using the Meeza prepaid card.
The protocol is part of Egypt Post’s efforts in building strategic relations with insurance companies and reaching larger segments of citizens in different parts of the country, including in rural villages and hamlets, capitalizing on a large network of 4,300+ post offices available nationwide.
Moreover, the protocol is within the framework of Egypt Post's strategy of serving as a reliable channel for delivering high-quality, yet affordable, financial inclusion services, thus supporting the national financial inclusion efforts and facilitating citizens' access to insurance services.
For its part, ECIP works to attain financial inclusion and digital transformation to help fulfill the government’s strategic goals of reaching a cashless society. ECIP is also keen on cooperating with Egypt Post, being one of the biggest, longest-standing economic institutions in Egypt. Egypt Post has been undergoing a multi-level development journey, and it has earned citizens' trust with the wide variety of services it offers.
The cooperation with Egypt Post will aid the implementation of ECIP strategic plan of reaching people nationwide. Since data and statistics show that most insurance beneficiaries are residents of rural villages and governorates other than Greater Cairo, ECIP realized the need to collaborate with Egypt Post given its wide availability in all parts of the country.
