The Egyptian insurtech startup, Mal Bazaar, is reshaping the insurance landscape with a significant leap forward. With the recent acquisition of an insurance brokerage license, Mal Bazaar has expanded its business model to become a full-service insurance intermediary. Since its inception in 2019, Mal Bazaar has diligently worked to craft a reputation grounded in tech-forward insurance solutions, providing an array of policies from medical to motor, and property to inland cargo insurance, catering to industries rich in variety, from FMCGs to pharma, and nurturing startups. Impressively, Mal Bazaar’s offerings span across a vast customer reach, benefiting over 60,000 employees.
A Catalyst for Enhanced Insurance Offerings
The endorsement of the Egyptian Financial Regulatory Authority opens a path for Mal Bazaar to spearhead a B2B2C insurance platform. This innovation is engineered to sophisticate service provision and elevate the customer journey, aligning financial products with seamless availability to the wider workforce. Joining the celebration of this landmark in their business journey, CEO Abbas Jammal identifies this advancement as a testament to their pursuit of compliance and service enhancement in the marketplace. A cornerstone of Mal Bazaar’s disruption strategy in the insurance market hinges on revitalizing their ‘My Policy’ management platform, propelling it towards digital transformation for more coherent and accessible corporate insurance policy management.
A Gleam in a Wider Insurtech Panorama
Since its establishment in 2019, the Egyptian insurtech trailblazer, Mal Bazaar, has made a formidable stride in revolutionizing the insurance sector by earning an insurance brokerage license. This pivotal move has transformed the startup into a comprehensive insurance intermediary. Dedicated to integrating technology into insurance, Mal Bazaar has swiftly built a solid standing for offering diverse insurance policies. Their portfolio caters to a broad spectrum of sectors, including fast-moving consumer goods, pharmaceuticals, and emerging businesses. The services offered range from medical, motor, and property insurance to specialized products like inland cargo insurance. Mal Bazaar’s impact is substantial, providing services that span across numerous industries and positively affecting the lives of over 60,000 employees through their insurance solutions. With this expansion, Mal Bazaar continues to reinvent how individuals and companies access and benefit from insurance.