Kuwait’s Boubyan Takaful Insurance Company (BTIC) has signed a cooperation agreement with Egypt-based O7 Therapy in order to provide mental health insurance in the country.
Under the first-of-its-kind agreement, both companies will collaborate to offer the Egyptian platform’s services among the health insurance services and products that BTIC provides.
O7 Therapy is an Egyptian research-based online platform that helps address a wide range of mental health difficulties and advocate for mental health and wellness.
This agreement comes as part of Boubyan Bank’s initiative, which was launched in March in Kuwait, in alignment with the Bank’s CSR strategy that initiated several other outstanding contributions in many related areas towards society development.
Mr. Ashraf Bacheet, Co-Founder and CEO of O7 Therapy said that, “This comes as part of our strong belief that everyone deserves to have access to mental wellness, in a safe, supportive, effective, and stigma-free environment, while resolving challenges and leading an impact.”
Mr. Ebrahim AlKhuzam, CEO of Boubyan Takaful Insurance Company noted that, “Insurance companies in Kuwait face several challenges in including psychotherapy as part of its insurance policies. Other challenges include providing the customers with confidentiality and security, and setting prices that are commensurate with quality psychotherapy services.”
“Hence, we took it as a great chance to collaborate with O7 Therapy, which added a new definition to online therapeutic services, in addition to developing trusted and reliable protocols for encrypting and storing data, in a user-friendly framework. That’s why we are proud to witness that all citizens and residents of Kuwait can now have access to O7 Therapy’s valuable services,” Mr. AlKhuzham added.