The online sale of insurance products constitutes a lever for sustainable growth for the sector, said Friday in Casablanca, Younes Lammat, director of policyholder protection at the Insurance and Social Security Control Authority (ACAPS). ).
“The supervision of the online sale of insurance on a national scale aims to position the Moroccan insurance sector on a sustainable growth trajectory, by fully exploiting the opportunities offered by emerging digital technologies,” noted Mr. Lammat, who spoke at the Digital Bancassurance Forum in Africa.
Thus, he called on banks, micro-credit associations and payment institutions to observe the conditions and modalities appearing in the legal texts which govern the online sale of insurance products.
These are Law No. 17-99 on the insurance code applicable to online sales, Law No. 31-08 enacting consumer protection measures, the Dahir forming the code of obligations and contracts and Law No. 53-05 relating to the electronic exchange of legal data, he said.
In this sense, he noted that recent regulations surrounding bancassurance have been marked by the significant evolution of regulatory frameworks over the years, evoking the emergence of new players such as payment institutions (EDP) and banking companies. financing that enrich the competitive landscape of the sector.
For his part, the general director of the Interbank Electronic Monetary Center (CMI), Rachid Saihi, underlined the importance of digitalization in the Moroccan financial sector, particularly in insurance, which currently represents a penetration rate oscillating between 4 and 5 %.
“Despite this low penetration rate, the CMI plans significant growth thanks to a robust electronic payment platform. This platform, supported by a team of 200 employees in 14 cities, aims to double its processing capacity every three years, thus adapting to the requirements of rapid and error-free growth,” said Mr. Saihi.
At the same time, CMI is seeking to integrate more technologies such as robotics and artificial intelligence to automate and optimize its processes, he added, noting that this includes the industrialization of operations to reduce errors and improve productivity. ‘client experience.
On a strategic level, Mr. Saihi highlighted the CMI’s commitment to actively contribute to the development of bancassurance, combining traditional banking skills with insurance risk management.
For his part, the Head of Department of Network and Market Development at the Interbank Electronic Payment Group of Central Africa, Evina Ndaleu Landry Ghislain, emphasized the role of digitalization in the growth of the insurance sector.
“The progressive digitalization of banking and insurance services will promote the fluidity of operations, reducing repayment times and thus expanding access to the entire population,” he explained.
In Morocco, bancassurance constitutes the second most important distribution channel after insurance intermediaries, representing 30% of the market, of which 99.7% is dominated by the banking network.
The Digital Bancassurance Forum in Africa aims to answer various questions about the current state and development trends of the sector, the constraints and levers for growth, as well as the best digital solutions and strategies for operators.
Professionals and financial experts from banks, insurance companies and technology companies took part in this meeting to discuss the various issues relating to the current and future situation of bancassurance, the digitalization and growth of bancassurance and the compliance and regulation of insurance.
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