Nice Deer, a pioneering player in Egypt’s health insurance technology (InsurTech) sector, has received official approval from the Financial Regulatory Authority (FRA) to establish Egypt’s first fully digital non-banking financial institution (NBFI) dedicated to factoring deferred medical insurance claims. This regulatory milestone enables Nice Deer for Financial Solutions to provide real-time financing solutions, converting delayed insurance receivables into immediate cash settlements for medical service providers.
With Egypt’s medical insurance market valued at over EGP 300 billion annually, Nice Deer aims to factor EGP 500 million in claims within its first two years of operation. Delayed payments from insurance companies and third-party administrators (TPAs) have long strained healthcare providers’ liquidity, often limiting provider participation in insurance networks, degrading service quality, and hindering insurance penetration across the country.
Nice Deer’s digital platform tackles these challenges by delivering instant liquidity through a proprietary AI-powered credit scoring engine that analyzes real-time claims data, medical approvals, and utilization patterns. This integration of AI allows precise risk assessment, streamlined factoring decisions, and scalable financing designed to reset market dynamics in favor of healthcare providers.
Engy Shalash, Co-founder and Chief Marketing Officer, described the license as a transformative step: “We’re resetting the market’s tempo in favor of every provider who has long waited for their dues. Smart financing builds a faster, fairer economic cycle for the entire ecosystem.”
CEO Mostafa Medhat Hussien emphasized the strategic necessity of financing in health insurance: “Providers have long suffered from the time gap between service delivery and revenue collection, often treating insurance patients differently from cash patients. Our platform lays the foundation for a value-based healthcare system that prioritizes better patient outcomes and provider sustainability.”
Beyond liquidity, Nice Deer aims to build a new financial infrastructure for Egypt’s healthcare sector—one that expands insurance penetration nationwide, converts credit-based transactions into immediate cash, and encourages broader provider inclusion in payer networks. This effort supports the development of a resilient, data-driven, value-based healthcare ecosystem.
