Morocco's Insurance and Social Welfare Authority (ACAPS) is launching a large-scale programme in partnership with the African Development Bank (AfDB), to transform the country's insurance sector through innovation.
The main objective of the project, called the Moroccan InsurTech, Inclusion and Innovation programme (PM3I), is to foster innovation and the development of the InsurTech ecosystem in Morocco to improve customer experience and insurance inclusion, especially for the most vulnerable population groups such as women.
The project was approved on 30 September 2025 and will run until December 2028. The programme, which has a total budget of $680,000, including $510,000 from the African Digital Financial Inclusion Facility (ADFI), a special fund managed by the AfDB, and $170,000 in matching funds from ACAPS.
The PM3I project directly supports the "Strengthening the protection and economic integration of target populations through a more inclusive insurance offering" pillar of Morocco’s National Financial Inclusion Strategy, which was launched in 2019. By prioritising innovation and development of Morocco’s InsurTech ecosystem, PM3I seeks to improve the customer experience and enhance insurance access for vulnerable groups, including women and youth.
In a project appraisal report, ADFI said that its involvement in the project in favour of ACAPS is “fully justified given the structural and cyclical challenges facing the Moroccan insurance sector and the financial inclusion landscape in general. The national context is characterised by a low penetration of non-mandatory insurance products, limited financial literacy, especially in rural areas, and insufficient banking penetration. These factors impede access to formal financial services for a large proportion of the population, especially women, young people and micro-enterprises”.
PM3I aims to achieve the following specific objectives:
(i) Promote the emergence of innovative projects by identifying and supporting promoters of projects with high development potential in the InsurTech ecosystem in Morocco.
(ii) Strengthen insurance inclusion by fostering innovation and the development of insurance products tailored to the needs of the most vulnerable segments of the population. Project promoters must develop innovative solutions to meet the specific insurance needs of women and other targeted population groups, and provide accessible, transparent and fair products.
(iii) Support traditional insurers by providing them with methodological and technical support to integrate InsurTech technologies and improve customer experience. Insurers must be able to develop innovative products and provide more efficient services to remain competitive in the market.
(iv) Contribute to stakeholder capacity building by providing tools, information and training on InsurTech.
Expected 2028 outcomes
The expected project outcomes and their impact by end-2028 are as follows:
(i) a regulatory framework conducive to the insurance inclusion of the most vulnerable population groups, with at least one regulatory reform initiative;
(ii) significant improvement in insurance inclusion, with more appropriate and accessible products for vulnerable population groups, especially women (identification of five use cases under PM3I that address insurance inclusion for the most vulnerable groups, at least one of which specifically targets women);
(iii) enhanced skills of insurance sector actors, with a better understanding of innovation and InsurTech challenges (development and publication online of at least one educational toolkit to enable ecosystem actors to master the basics of InsurTech).
Project target area, beneficiary population and other stakeholders
The project covers the whole of Morocco. It will benefit the regulator, the 25 insurance companies currently operating in the country, 2,000 intermediaries and brokers, 30 InsurTech project promoters, about 200,000 new users (100,000 of them women) and 30,000 microenterprises and cooperatives, at least 40% of them owned by women.
PM3I will also benefit insurance service providers, brokers, project promoters in the insurance sector and future project promoters, including InsurTechs and FinTechs, as well as traditional insurers. The project will provide:
- a legal and regulatory framework that encourages innovation
- support, through information and training
- a pipeline of use cases that are tailored to the needs of vulnerable population groups through the Emergence Programme (participatory diagnosis and joint development of solutions), which involves all ecosystem stakeholders, including potential users
- tools and expertise needed by the regulator to supervise and support InsurTech more effectively. At least 20 senior ACAPS officers will undergo capacity-building training in the regulation and promotion of InsurTech and inclusive insurance.