Egypt’s Financial Regulatory Authority (FRA) has granted preliminary approval for two artificial intelligence projects to enter its regulatory sandbox and test new insurance applications.
The first project was submitted by EG InsurTech for Electronic Applications, Systems and Software Services with Assurex Insurance Brokerage. It will test Ameen, an AI-powered assistant for insurance platforms.
The second was submitted by Allianz Egypt Insurance in collaboration with Olimi. The project will pilot an AI-powered voice agent and chatbot platform designed to improve customer interaction and service delivery.
The FRA said the sandbox allows companies to test fintech solutions in a controlled regulatory environment before commercial launch, while providing technical and regulatory guidance.
With the latest approvals, the number of initiatives accepted in principle since the sandbox launched has reached seven in one year, according to Ahmed Khalifa, Executive Director of the FRA Sandbox. The insurance sector accounts for the largest share of projects submitted to the programme.
The sandbox has also supported around 40 companies by reviewing proposed business models, explaining admission requirements and providing tailored support for non-banking financial activities.
Source: Zawya
