Banking and insurance services: what online sales will change

According to Younes Lammat, director of policyholder protection at the Insurance and Social Security Control Authority (ACAPS), the online sale of insurance products is a lever for sustainable growth for this branch of insurance. activity, relay Eco Life.

Speaking at the Digital Bancassurance Forum in Africa organized in Casablanca on Friday June 21, this expert assured that “the supervision of the online sale of insurance on a national scale aims to position the Moroccan insurance sector on a sustainable growth trajectory».

This process can be made concrete, he explained, by “full exploitation of the opportunities offered by emerging digital technologies, thus calling on banks, micro-credit associations and payment institutions to observe the laws governing the online sale of insurance products»: the provisions of 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.

According to Younes Lammat, therefore, 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).

Rachid Saihi, general director of the Interbank Electronic Payment Center (CMI), insisted on the importance of the digitalization of the different branches of Moroccan financial activity, including that of 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», declared its general director, specifying that this platform aims to “doubling its processing capacity every three years, adapting to the demands of rapid and error-free growth».

At the same time, the CMI is seeking to integrate more technologies such as robotics and artificial intelligence to automate and optimize its processes, said Rachid Saidi, indicating that this included “industrialization of operations to reduce errors” and so “improve customer experience».