The first of its kind in the insurance industry Al Mashreq Insurance and PALPAY sign a cooperation agreement to provide digital insurance services

Al-Bireh, May 24th, 2021; PalPay for electronic payment services signed on Monday a cooperation agreement with Al-Mashreq Insurance Company, which is the first of its kind in the insurance industry, to benefit from the application's services of the integrated digital payment wallet system, "PalPay My Wallet," according to which it will enable all customers and the insured of Al-Mashreq Insurance to easily pay the insurance premiums electronically instead of cash payment.

The agreement was signed by the General Manager of PalPay, Muawiya Al Qawasmi and Al Mashreq Insurance Company's general Manager, Nihad Assad, at Palpay headquarters in Al-Bireh, in the presence of, the Sales Manager Shafiq Bali, Director of the Merchant Services Unit Abdulhadi Hamayel, Marketing Officer Natalie Zain and Business Development Officer Razan Shakoura. Assistant Director General for Financial and Administrative Affairs at Al Mashreq Insurance, Nassim Abu Mahmoud, Director of the Central Marketing Department, Youssef Barghouti, Director of the Marketing Communications Department, Rawan Juha, and Director of Product Development, Areen Shehadeh.

Under the agreement, Al-Mashreq Insurance Company will enable its insured audience to benefit from the electronic payment services that it provides to them through its electronic platforms in an easy, fast, and safe environment.

 Al Qawasmi expressed his happiness that Al-Mashreq Insurance Company is the first insurance sector company to join the PalPay electronic payment system, explaining that the company seeks to encourage all insurance companies to join the electronic collection network because of its importance to facilitating the lives of citizens and spreading the culture of digital payment and enhancing it locally.

Al-Qawasmi said, "Within a month from now, there will be the second launch of the wallet with many services, as we look to the digital payment system of PalPay to be a national system that benefits all groups and members of society throughout the country." He emphasized that PalPay is working to enhance its business and spread in the West Bank and Gaza Strip with the aim of promoting the culture of digital payment, reducing cash dealing, and activating the use of modern technology in the local market. 

Regarding offering insurance services and paying their premiums electronically, Al Mashreq Insurance Company's CEO, Mr. Ayoub Wael Zurub, said: "The company always seeks to provide the most appropriate for our insureds and achieve the highest levels of satisfaction through innovation and follow-up to everything that is modern and developed." Furthermore, transferring access to the services offered by the company and the ability to follow them electronically gives the insureds the best experience that enables them to save time and effort, as transactions can be executed at anytime and anywhere without the need to wait. In addition to that, it is a safe process and free of any additional fees.

Nihad Assad, the general manager of Al-Mashreq Insurance Company, expressed his pleasure at signing the contract with PalPay, saying that it "will contribute to facilitating the procedures for the company's beneficiaries and customers and simplify their lives, emphasizing that this agreement will pave the way for the company's customers to obtain many privileges."

Al Mashreq Insurance offers a distinctive package of services to its customers, including electronic payment services. According to Assad, this partnership will contribute significantly to the quality of those services as we work hard to make all of our services electronic and available to everyone. 

He added, "We look forward to having a new launch for new and unique services for our insured to revolutionize the insurance sector in conjunction with our partnership with PalPay, which is making great efforts to provide advanced and safe payment systems. In addition, we look forward to more cooperation to provide everything new to our customers and make it easier for them to implement various payment operations quickly, easily, and around the clock.