Orange Money & MEICO Sign MoU to Develop Innovative InsurTech Services

Orange Money, the e-wallet owned by Orange Jordan, and Middle East Insurance Company (MEICO) signed a strategic Memorandum of Understanding (MoU) to develop insurance services and products that offer an innovative digital experience that is easily accessed and can be purchased via the wallet’s app. This partnership comes as part of the cooperation framework aimed at promoting innovation in the insurance technology (InsurTech) field and fostering insurance inclusion for different segments of users. The MoU was signed by the Chairman of Orange Money, Eng. Philippe Mansour, and the Chairman of MEICO, Mr. Zeid Kawar, in the presence of the CEO of Orange Money, Eng. Hiba Al Shareef, the General Manager of MEICO, Eng. Majed Smairat, and representatives from both parties. As part of the agreement, MEICO’s “Haseen” product will be integrated into Orange Money’s wallet to offer innovative insurance services to contribute to serving society, enhancing insurance inclusion, and accelerating digital transformation. The newly launched online product is the fruit of last year’s hackathon, organized by the UNDP in partnership with the Central Bank of Jordan, the Jordan Insurance Federation, the Institute of Banking Studies, and the FinTech Academy, to develop advanced insurance products. Commenting on the partnership, the CEO of Orange Jordan and Chairman of Orange Money, Eng. Philippe Mansour, said that the collaboration focuses on the integration of FinTech solutions with the insurance ecosystem, allowing the wallet’s users to benefit from broad insurance coverage designed to suit their needs. He added that this step also solidifies the company’s unwavering commitment to developing secure...