In line with Changelabs’ new corporate offering, and building on success with global clients, Changelabs has launched a product development and risk management accelerator for well established Egyptian Insurance companies.
October 6th, Cairo, Egypt: Misr Insurance, Orient Insurance, Sarwa Insurance, Amanleek, and Kaf Insurance have signed an agreement with Changelabs to help launch and scale SME-focused insurance products, improve distribution models, and enhance workplace safety and risk management practices, ultimately contributing to higher profitability.
In line with its strategy of always leveraging best in class expertise, Changelabs has sub-contracted global insurance industry leaders RMC and Finprobity to develop and deliver the content, coach the insurance management teams, and support with product development and FRA approval. So far, several admitted companies have launched new insurance products targeting SMEs, boosting revenue and profitability, while others have strengthened their risk management capabilities, leading to increased efficiency and cost savings.
Changelabs’ Managing Director Karim Samra said: “With this accelerator, once again, we set out to prove that even the most established industries can innovate and grow through collaboration with startups/SMEs, agility, and purpose-driven design. By partnering with Egypt’s top insurers, we’re not only accelerating product innovation but also helping reshape how the sector serves SMEs — a critical engine of the Egyptian economy.”
To date, 4 new and amended products have been launched through the program tailored to SME needs. The program has also contributed to improving working conditions for 3,000 SME employees. In addition, InsurGrow has trained a total of 435 staff members, including 75 property risk engineers, 60 property underwriters, and 300 employees and management personnel, enhancing both technical skills and operational capacity across the sector.
Ahmed Khalifa, CEO at Sarwa Insurance, stated: “Our partnership with Changelabs through InsurGrow was truly collaborative blending their innovation ecosystem with our insurance expertise. Together, we accelerated product development and created meaningful improvements in how we serve SMEs, introducing new insurance offerings and strengthening our risk management approach.”
InsurGrow stands as a powerful testament to Changelabs’ new corporate business offering — a bold step toward transforming traditional industries through innovation,
partnership, and impact. By bringing together Egypt’s leading insurers, in partnership with the Insurance Federation of Egypt and GIZ, and enabling them to co-create, adapt, and scale in today’s fast-evolving market, Changelabs is redefining how established corporations interact and partner with startups and SMEs. This milestone marks just the beginning of a broader vision: to empower large enterprises to access innovation, unlock new market opportunities, and build stronger, more resilient ecosystems across Egypt and the region.
