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 and seamless digital payment solutions that align with the National Financial Inclusion Strategy, led by the Central Bank of Jordan, while supporting the Kingdom’s vision towards advancing the digital economy.
For her part, the CEO of Orange Money, Eng. Hiba Al Shareef, said: “This partnership embodies everything we stand for at Orange Money. Our core pillars center on providing comprehensive digital financial services built on efficiency and financial inclusion backed by the highest standards of digital protection. This strategic cooperation also reinforces our commitment to create a positive impact on our local communities while continuing to give our customers equal opportunities to improve the quality of life. Advancing insurance inclusion is a key step toward a new world of innovation that accelerates the digital transformation journey in Jordan.”
On his side, the Chairman of the Board of Middle East Insurance Company, Mr. Zeid Kawar, said: “This partnership reflects Middle East Insurance Company’s vision of building a more advanced and inclusive insurance ecosystem, driven by innovation and collaboration with strategic partners who deliver real value to customers. We believe that the integration of insurance and digital financial services will create new opportunities to expand access to insurance solutions, support economic development, and contribute to Jordan’s ongoing digital transformation.”
Meanwhile, the General Manager of Middle East Insurance Company, Eng. Majed Smairat, added: “This partnership marks another strategic milestone in Middle East Insurance Company’s digital transformation journey and reflects our commitment to developing innovative insurance solutions that make protection more accessible, convenient, and flexible. Through our collaboration with Orange Money, we aim to expand access to our services through trusted digital channels, enhancing insurance inclusion and elevating customer experience in line with our vision of delivering modern insurance solutions that meet the evolving needs of society and keep pace with the rapid advancements in financial technology.”
It is noteworthy that Orange Money is one of the most prominent e-payment service providers in Jordan, with more than 1.7 million registered wallets and a market share exceeding 50%. Additionally, the wallet recorded the highest volume and value of CliQ system financial transactions, reflecting its crucial role in supporting the Kingdom’s transformation journey towards a more efficient, inclusive digital economy.
To learn more, please visit our website: orange.jo/orange-money