CDG Invest and ACAPS join forces to boost the Insurtech ecosystem in Morocco

CDG Invest and ACAPS join forces to boost the Insurtech ecosystem in Morocco
CDG Invest and ACAPS join forces to boost the Insurtech ecosystem in Morocco

On the sidelines of Gitex Africa Morocco 2024, CDG Invest, the investment branch of the CDG Group, and the Insurance and Social Security Control Authority (ACAPS) signed a partnership agreement aimed at boosting the Insurtech ecosystem in Morocco.

This partnership combines the strengths of both institutions to support innovation and growth of startups in the insurance and social security sectors.

The agreement was signed by Khalid Safir, Managing Director of the CDG Group and Chairman of the Board of CDG Invest and Abderrahim Chaffai, President of ACAPS on the sidelines of the GITEX Africa 2024 exhibition in Marrakech.

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The objective of this framework agreement is to encourage the emergence of an Insurtech ecosystem and to promote innovation, the development of startups and the strengthening of Morocco’s digital transformation.

It should be noted in this regard that ACAPS, as regulator of the insurance and social security sectors, places the promotion of the use of new technologies at the heart of its strategic orientations. As such, the Authority created the Innovation & Insurtech Unit which plays a crucial role in stimulating innovation, by developing synergies between all stakeholders in the sector. This partnership will allow ACAPS to support Insurtech project leaders on aspects of regulatory compliance.

For its part, CDG Invest, a financial investor with the objective, in particular, of supporting innovation and promoting Moroccan entrepreneurship, particularly through its 212Founders program, works to support and finance startups and Fintech and Insurtech ecosystems. .

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This partnership will allow the coordination of initiatives aimed at the development of the Insurtech ecosystem, cooperation for the creation and launch of startups supported by 212Founders and the exchange of information and best practices in the field of Insurtech.

The parties will put in place a complete system and deploy the necessary efforts to promote the growth of Insurtechs for innovation, customer experience, and insurance inclusion, thus contributing to the digital transformation of the insurance sector in Morocco.

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