Algeria: KYC becomes a central anti-fraud tool for insurers

Source: Middle East Insurance Review | Jun 2025

The Know Your Customer (KYC) process is becoming a central tool in the insurance sector in Algeria, aimed at preventing fraud and money laundering, experts and professionals say.

Algerian Union of Insurance and Reinsurance Companies (UAR) president Youcef Benmicia said that the insurance sector adopted, towards the end of 2024, a regulation establishing the KYC process, noting that this procedure complied with the law on the protection of personal data.

The KYC process is used to verify the identity of customers, as well as assess their financial situation, their risk profile and the origin of their funds. It uses specialised databases, information systems and AI, while complying with personal data protection legislation.

KYC is now a required procedure for insurance companies, reported the Algerian Press Service. M

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