{"id":24420025,"date":"2026-07-28T08:57:18","date_gmt":"2026-07-28T05:57:18","guid":{"rendered":"https:\/\/fra.gov.eg\/fra_news\/%d8%a7%d9%84%d8%b1%d9%82%d8%a7%d8%a8%d8%a9-%d8%a7%d9%84%d9%85%d8%a7%d9%84%d9%8a%d8%a9-%d8%aa%d9%85%d9%86%d8%ad-%d8%a7%d9%84%d9%85%d9%88%d8%a7%d9%81%d9%82%d8%a9-%d8%a7%d9%84%d9%85%d8%a8%d8%af%d8%a6\/"},"modified":"2026-07-28T12:17:53","modified_gmt":"2026-07-28T09:17:53","slug":"%d8%a7%d9%84%d8%b1%d9%82%d8%a7%d8%a8%d8%a9-%d8%a7%d9%84%d9%85%d8%a7%d9%84%d9%8a%d8%a9-%d8%aa%d9%85%d9%86%d8%ad-%d8%a7%d9%84%d9%85%d9%88%d8%a7%d9%81%d9%82%d8%a9-%d8%a7%d9%84%d9%85%d8%a8%d8%af%d8%a6","status":"publish","type":"fra_news","link":"https:\/\/fra.gov.eg\/en\/fra_news\/%d8%a7%d9%84%d8%b1%d9%82%d8%a7%d8%a8%d8%a9-%d8%a7%d9%84%d9%85%d8%a7%d9%84%d9%8a%d8%a9-%d8%aa%d9%85%d9%86%d8%ad-%d8%a7%d9%84%d9%85%d9%88%d8%a7%d9%81%d9%82%d8%a9-%d8%a7%d9%84%d9%85%d8%a8%d8%af%d8%a6\/","title":{"rendered":"FRA Grants Initial Approval for Two New Insurance Projects to Join Fintech Sandbox \u2013 Tuesday 28 July 2026"},"content":{"rendered":"<p dir=\"ltr\" style=\"text-align: left\"><strong><span style=\"color: #800000\">Dr. Islam Azzam \u2013 FRA Chairman:<\/span><\/strong><\/p>\n<ul>\n<li style=\"text-align: left\"><span style=\"color: #800000\">Innovative solutions diversify insurance products and enhance customer experience.<\/span><\/li>\n<li style=\"text-align: left\"><span style=\"color: #800000\">The number of projects granted initial approval for the Sandbox rises to seven in its first year<\/span>.<\/li>\n<\/ul>\n<p dir=\"ltr\" style=\"text-align: left\">Financial Regulatory Authority (FRA), through its Fintech Committee, has granted initial approval for two new projects to join its regulatory sandbox. The initiatives will test the application of artificial intelligence (AI) in developing insurance services, aligned with FRA\u2019s ongoing efforts to foster innovation and support fintech solutions across non-banking financial activities prior to commercial launch.<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">The initial approval includes a project submitted by EG InsurTech (for electronic applications, systems and software services), in collaboration with Assurex Insurance Brokerage, to test &#8220;Ameen&#8221; AI Assistant for Insurance Platforms.<\/p>\n<p dir=\"ltr\" style=\"text-align: left\"><img class=\" wp-image-24419975 alignleft\" src=\"https:\/\/fra.gov.eg\/wp-content\/uploads\/2026\/07\/f6699e34-b2cf-4771-b2a8-172d50336456-300x150.jpeg\" alt=\"\" width=\"344\" height=\"172\" srcset=\"https:\/\/fra.gov.eg\/wp-content\/uploads\/2026\/07\/f6699e34-b2cf-4771-b2a8-172d50336456-300x150.jpeg 300w, https:\/\/fra.gov.eg\/wp-content\/uploads\/2026\/07\/f6699e34-b2cf-4771-b2a8-172d50336456-1024x512.jpeg 1024w, https:\/\/fra.gov.eg\/wp-content\/uploads\/2026\/07\/f6699e34-b2cf-4771-b2a8-172d50336456-768x384.jpeg 768w, https:\/\/fra.gov.eg\/wp-content\/uploads\/2026\/07\/f6699e34-b2cf-4771-b2a8-172d50336456-1536x768.jpeg 1536w, https:\/\/fra.gov.eg\/wp-content\/uploads\/2026\/07\/f6699e34-b2cf-4771-b2a8-172d50336456.jpeg 1600w\" sizes=\"(max-width: 344px) 100vw, 344px\" \/><\/p>\n<p dir=\"ltr\" style=\"text-align: left\">Additionally, the Authority granted in-principle approval to Allianz Insurance \u2013 Egypt, in partnership with Olemy, to test an &#8220;AI Voice Agent &amp; Chatbot Platform.&#8221;<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">Dr. Islam Azzam, FRA Chairman reaffirmed the Authority\u2019s commitment to provide institutional and technical support for innovative technological solutions that advance the non-banking financial sector. He highlighted FRA\u2019s pivotal role in cultivating a flexible regulatory framework that keeps pace with global advancements in fintech and AI, while safeguarding market integrity, stability and consumer rights.<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">FRA Chairman emphasized the importance of backing projects that aim to enhance interaction between financial firms and their clients through digital platforms. He noted that leveraging AI tools enables better analysis of customer trends, preferences, grievances and product demand\u2014generating key indicators to elevate service efficiency and help clients select insurance coverage tailored to their needs.<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">Eng. Ahmed Khalifa, Executive Director of FRA Sandbox, stated that approving these two new projects brings the total number of provisionally accepted initiatives to seven within the sandbox\u2019s debut year. He emphasized that this milestone underscores the Authority\u2019s dedication to nurture technological innovation and provide a secure testing environment for new financial solutions, thereby accelerating digital transformation and bolstering financial inclusion. He added that the insurance sector remains the most represented segment among sandbox applicants, reflecting its drive to optimize business management and product efficiency.<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">Prior to these two projects, five other initiatives received provisional approval: namely, GIG and Orient (in collaboration with EG InsurTech) in the insurance domain; Cassbana in digital brokerage for microfinance;<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">Lumin Soft, in partnership with Azimut, for foreign identity verification via e-passports.<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">FRA Sandbox provided regulatory guidance to approximately 40 companies, reviewing their concepts and offering tailored mentorship on regulatory compliance and admission criteria within the non-banking financial framework. Furthermore, the Sandbox hosted a series of workshops and seminars focused on strengthening cybersecurity awareness and promoting the digitization of financial solutions.<\/p>\n","protected":false},"author":124,"featured_media":24419973,"parent":0,"template":"","format":"standard","categories":[142,144],"tags":[5503,5516,5515,5514,5513,5512,5511,5510,5509,3742,5502,5500,5091,5074,4953,4137,3812],"fra_news_taxonomy":[2137,2138],"news_paper_taxonomy":[],"_links":{"self":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/fra_news\/24420025"}],"collection":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/fra_news"}],"about":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/types\/fra_news"}],"author":[{"embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/users\/124"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/media\/24419973"}],"wp:attachment":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/media?parent=24420025"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/categories?post=24420025"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/tags?post=24420025"},{"taxonomy":"fra_news_taxonomy","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/fra_news_taxonomy?post=24420025"},{"taxonomy":"news_paper_taxonomy","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/news_paper_taxonomy?post=24420025"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}