The First Regional Insurance Brokerage Congress (RIBC) has launched today in Cairo. The congress is hosted and organised by the Egyptian Insurance Brokers Association (EIBA), under the auspices of Egypt's market regulator, the Egyptian Financial Supervisory Authority (EFSA) in collaboration with the Insurance Federation of Egypt, the Arab Insurance Brokers' League, General Arab Insurance Federation (GAIF), and the Mediterranean Federation of Insurance Brokers (FMBA). RIBC is a newly established gathering of insurance brokers that will be held on regular basis every two years. The media sponsorship of the two-day event will be provided by Amwal Al Ghad economic magazine. This congress will cover most of the technical, logistics and regulations issues, which are common between the insurance brokers and their stakeholders' insurers, reinsurers, risk managers. It will highlight the opportunities to engage a new generation of businesses through the new products and access the digital era. The ultimate aim of this congress RIBC is to initiate a global network connecting brokers & stakeholders to exchange experiences, ideas and the latest developments in the industry. One of the most recent developments that would like to share is EIBA initiative to draft a unified standard contract between brokers and insurance companies which entailed a long process of discussions and negotiation with all relevant partners Insurance Federation of Egypt (IFE) and The Egyptian financial supervisory authority (EFSA). Moreover, the congress is set to discuss five major topics; the need for a standard contract between Brokers and insurers in developing markets, E-Broking - Leverage the opportunities in Technology and E-trading for insurance brokerage growth, the role of insurance brokers in the Microinsurance: Opportunities and Challenges, the renewable energy insurance (solar energy as an example): The risks the brokers should know, and the role of insurance brokers in developing health insurance marketplace.
