Cairo – August, 2023 – Nice Deer, an InsurTech company specializing in developing a comprehensive integrated digital ecosystem for the health insurance industry in Egypt, proudly announces its key achievements during Q1 of 2023, surpassing 70% of last year. With 950,000 beneficiaries, Nice Deer’s hub manages interactions with insurers on one screen and continues to spearhead innovation in the insurance technology sector.
To revolutionize health insurance, Nice Deer integrates financial and insurance services, leveraging technology to boost industry growth. Their platform processes U$12 million monthly claims through 7,000+ medical centers. Users experience 13 percent fewer settled claims, finding it widely accessible in various healthcare facilities including pharmacies, lab and scan centers, specialized centers, optics centers, polyclinics, and dental clinics.
“We have made significant strides since the inception of Nice Deer, refining our technology and creating innovative business solutions,” stated Engineer Mostafa Medhat, Founder & CEO of Nice Deer. “Our success stems from our unwavering dedication to advancing technology, including building a massive drug directory from scratch. Thanks to US$1.2 million in investments, with 60 percent dedicated to improving our technology, we were able to reduce rejection rates from 15% to an impressive 1.5%.”
Engy Shalash, Co-Founder of Nice Deer, highlighted the company’s recent portfolio expansion, saying: “Our dedication to forging new partnerships has paid off, as we announce alliances with four new players, encompassing more than 40,000 beneficiaries. Nice Deer has joined forces with Sekem, EMC, Limitless (Eva Group), and Banque Misr, where these companies act as self-insurance clients, utilizing our system to manage insurance plans for their employees. Additionally, Misr Finance has partnered with us to offer financing options to medical service providers, fostering enhanced cooperation with insurance companies.”
Shalash highlighted the platform’s comprehensive services, saying: “Our offerings include Nice Deer for hospitals and Polyclinics, an innovative dental clinic management system, an extensive Drug Directory, essential Drug to Drug contraindications and Drug to diagnose interactions, a comprehensive Drug Search Engine, and an OCR technology for seamless data integration. Moreover, we made significant strides in factoring, providing a smooth financial process for our clients.”
Nice Deer empowers health insurance companies with seamless communication, fraud detection, and prevention. With an extensive medical service provider network, they reshape the insurance landscape and adapt to changing needs.
About Nice Deer:
Nice Deer was founded early in 2022 by Engy Shalash and Mostafa Medhat, Founder of IT Fusion, the sister company of Nice Deer, which connects third-party insurance system management and insurance companies. Nice Dear operates a platform that acts as an intermediary for healthcare service providers, health insurance companies, and beneficiaries by facilitating insurance and reimbursement of claims. Using artificial intelligence technology, the platform analyzes medical data to detect fraud attempts and recommend medications based on the patient’s medical history.