Reforms and new regulations
The year 2023 was also marked by several important reforms and regulatory initiatives. Among the most notable, ACAPS established the new compulsory health insurance scheme (AMO-Achamil). This scheme aims to cover people capable of contributing but not engaged in any paid activity. This program is part of Morocco’s effort to expand social coverage and guarantee access to care for a wider population.
ACAPS also worked on the development of several regulatory texts aimed at regulating the insurance sector and improving its operation. These texts aim to guarantee better transparency, strengthen the protection of policyholders, and encourage more rigorous risk management.
Climate insurance and emerging risks
One of ACAPS’ priorities in 2023 has been the management of emerging risks, including those related to climate change and cybersecurity. ACAPS has published new regulatory instructions regarding the management of environment-related financial risks, and introduced measures to strengthen cyber risk management in the insurance sector.
Climate change represents a major risk for the future of the sector, particularly because of its potential impact on natural disasters, risk management, and investments. ACAPS has therefore launched several initiatives to integrate these risks into the management strategies of insurance companies, while raising awareness throughout the sector of the importance of adaptation to new ecological challenges.
Financial inclusion. ACAPS continues its efforts
In 2023, ACAPS also continued its efforts in financial inclusion. After the launch in 2022 of Takaful insurance and microinsurance, ACAPS worked to expand access to insurance for populations that are underserved or excluded from the traditional insurance system. These initiatives aim to provide accessible insurance solutions to the most vulnerable segments of the population, particularly in rural areas and low-income communities.
ACAPS has also implemented several projects to encourage innovation in the sector, notably by promoting the adoption of new technologies and business models, such as digital insurance, in order to make insurance products more accessible and more adapted to the needs of the Moroccan population.
According to ACAPS, the coming years should see the continuation of this transformation dynamic, with particular attention to climate and digital issues, and social coverage for the most vulnerable segments of the population.
