Mostafa Salah, Managing Director: “The Engineer for Life Insurance” strongly supports the state’s plans to achieve sustainable development and insurance coverage
Iman Al-Wasili
Mustafa Salah is the Managing Director of Al Mohandes Life Insurance is a natural extension of the adult generation of the symbols and pioneers of the insurance industry. In addition to his economic and insurance knowledge and certificates, he acquired his actual experiences on the ground from the great symbols and pioneers who gave him experience, skill and craftsmanship in addition to a great love for the industry.
Mustafa Salah said in his first interview with “ businessmen ” : I took over the responsibility in October 2020 as general manager of Al Mohandes Life Insurance Company, then I was assigned by the company’s board of directors as acting managing director In succession to Dr. Abdul Latif Murad after he passed away last April – may God have mercy on him – and with the help of all the work team of the company, this critical stage was crossed, which had the greatest impact on my appointment as a managing director of the company and the approval of the Financial Supervisory Authority, adding by saying: Our success in overcoming that critical and difficult stage that our company faced assures us and everyone that the Engineer for Life Insurance is an entity that is able to withstand and overcome all crises, and is even able to compete and advance ranks with the financial capabilities, technical capabilities and trained and qualified human elements that this entity possesses. And able to work with the latest technologies of the age in order to reach new segments that are still far from the umbrella of insurance protection, and then I can say emphasizing that the most important priorities of all of us in the company is that the engineer returns to life insurance to its natural position by The Egyptian insurance market in a way that expresses the strength of its financial solvency and also expresses what the company possesses of the elements that help the success of any institution, whether financial or technical , We also work in all directions to achieve the desired goal, so we work first to organize the house from the inside and take advantage of the competencies and experiences in the company and increase investment in the human element and raise its efficiency, in addition to developing our insurance products and services in a way that meets the needs of our customers, and we also aim to expand geographically to cover all parts of the Republic With building bridges of communication and dealing with all insurance brokers and brokerage companies in the Egyptian insurance market, we never forget our societal role and work to implement the principles of sustainable development.
And about the axes of the company’s plan in a large market capable of growth and expansion, and in which there are many other competing companies.. Mostafa Salah said in his usual frankness: The focus of our plan is always how to satisfy our customers in a way that meets all their needs, by providing a product My insurance is of the best possible quality and at the fairest possible price, as well as the diversity of our insurance products in a way that covers all segments of society and interest in serving It is one of the biggest criteria for success and customer service. In light of global changes and developments, especially with regard to digital technology, Mostafa Salah explained: We are closely following everything that is happening around us, especially what is related to digital technology, which has become a means of communication and interaction at the level of governments, institutions and companies all over the world, as the world is moving strongly and quickly towards transformation. digital. Locally, the state, with all its organs, as well as all institutions, is moving towards digital transformation. We at Al Mohandes Life Insurance and in light of the issuance of the digital technology law – Mustafa Salah said – we seek to activate models of electronic applications for insurance, which is a business model based on the use of modern technological technologies such as artificial intelligence and big data analysis tools In creating new business models or insurance products in order to maximize operating efficiency, mitigate and manage insurance risks, and improve customer service, in line with the strategy of the Financial Supervisory Authority 2022-2025, the company also seeks digital transformation in the field of electronic collection in order to complete the electronic issuance system and provide electronic collection of premiums, with the transition to issuing standard life insurance policies electronically through information systems to encourage digital transformation and reach customers through innovative digital marketing tools . The company also adopts the use of modern technological programs, mobile applications related to insurance, digital transformation strategies and the development of the work environment to meet the different needs of customers.
And about expansion plans Geography and Expansion.. Mostafa Salah said: We already have 17 a geographical branch covering most parts of the Republic, we have branches in Cairo The largest in Dokki – Mohandessin – Ramses – Imad El-Din – Ghamra – Sayeda Zeinab – Helwan, and in Lower Egypt in “Alexandria – Tanta – Mansoura – Zagazig – Mit Ghamr” and Wajh Kebily and Upper Egypt in “Minya – Assiut – Beni Suef” In addition to the canal line in “Port Said – Suez”, we are always working to develop these branches and support them with technical, administrative and technological cadres and develop their infrastructure, and we plan to open new branches to help us reach all segments of society. But in light of the digital transformation, as I mentioned before, and relying on modern technology to reach customers and provide services electronically, we are working to establish smart branches that keep pace with global development and technological changes and meet the needs of our customers, all through the institutional and legal framework.
And about the human element and the extent of interest in it in “The Engineer for Life Insurance” .. Mostafa Salah confirmed to “
Businessmen “He is a firm believer in the human element and we place it at the top of our interests and work priorities, and as I mentioned before, we always work on investing in the human element. We believe that he is the main driver and factor for the success and progress of the company. Al Mohandes Life Insurance actually possesses human expertise and competencies capable of returning the company to its natural position in the Egyptian market. We are working to support them continuously and create a good environment that helps them achieve their practical ambitions and advance the company to the highest possible position, By developing a plan to train them and develop their skills to keep pace with the developments that occur in global markets, as well as to benefit from the expertise of They support and qualify new cadres as a second grader by transferring their accumulated experiences over the years of their work with the aim of creating a new generation capable of continuing those successes.
In some detail Mustafa Salah revealed some axes of the company’s plan to advance and upgrade the human element, including, for example, but not limited to: “Participation in money laundering courses to keep pace with the investigation and accuracy of negative lists – Participation in economic and insurance conferences to increase experiences for sustainable development – Participation in courses to comply with the provisions of work in Legal frameworks – opening opportunities for workers to develop themselves by doing some postgraduate studies in various fields of the company – encouraging workers to start studying in international certificates such as Luma and Chartres.
Regarding his company’s pursuit of a credit rating, Mostafa Salah confirmed that Al Mohandes Life Insurance is already planning to obtain an international credit rating from major rating institutions. International, because obtaining a credit rating is certainly an ambitious project for our company, and we
are working In the right direction at all levels within the company, whether technically, financially or administratively, in preparation for obtaining a credit rating that crowns our efforts with transparency and disclosure.
And about the results of the engineer’s life insurance work in the fiscal year ending in 30 June Compared to the results of the financial year ending in 2020 June 2020 .. Mustafa Salah said in the language of numbers that he is fluent: He has The engineer for life insurance achieved direct premiums that amounted to millions of pounds in the last fiscal year, with a growth rate of 103 %, targeting a growth rate of 2020 % of the current fiscal year, provided that the annual growth rate shall not be less after that, starting from the next fiscal year God willing, about 2020 or 2020% in the worst case.
And before he folded his papers.. we had to ask the managing director of Al Mohandes Life Insurance Company about insurance Microfinance, which the state encourages and supports.. Mostafa Salah said: The general trend of the state is towards supporting small, medium and micro enterprises, and it is natural that the insurance sector in our country, supported by the Financial Supervisory Authority and the Egyptian Insurance Federation, keeps pace with the state’s development plans, especially those related to supporting micro-enterprises. And the engineer for life insurance, Mustafa Salah, is one of the companies keen to follow what is happening on the local scene, and therefore we are proud that our company is one of the companies that hastened to provide insurance protection to the owners of these projects through insurance products of high quality at prices that suit the owners of these incomes, as we have about 13 He contracted with many microfinance institutions and associations, besides that we have more than 103 An insurance product that covers most of the owners of small and micro-enterprises, in addition to our continuous study of customers’ needs with the aim of providing all the products and services they need, which ultimately serves the state’s goals and has positive effects on our national economy.
