The Moroccan Insurance Federation (FMA) has revealed several initiatives it is working on to improve efficiency and modernise the industry.
FMA president Mohamed Hassan Bensalah announced the changes at the opening on 16 April of the two-day Rendezvous de Casablanca.
He highlighted two key projects: the digitalisation of motor insurance policies and the implementation of a multi-channel payment platform. These are planned to be implemented in the second half of 2025. The aim is to simplify the policyholder experience and strengthen the digitalisation of services.
At the same time, two other major developments are looming. The first is the revision of the motor insurance compensation scale unchanged since 1984. The second is the shifting of health insurance policyholders to the universal health insurance scheme, in which private insurers will play a complementary role.
Commenting on the motor insurance compensation scale, Mr Bensalah said, "This necessary update will have a significant impact on price levels. At the same time, the revision of the pricing criteria should allow us to better adjust premiums to the profiles of our customers, in a more equitable pricing approach.”
Referring to the switch to the universal health insurance system, he said, "This is a project we have been anticipating for a long time. It is now essential to intensify our collaboration with the CNSS (National Social Security Fund) to ensure a smooth transition."
The compulsory universal health insurance scheme has stirred concern among insurance companies and intermediaries. As it involves the transfer of clients from private insurers to the CNSS, the business of many brokers and insurers is at stake. At least MAD4bn ($431m) in premiums will flow out of the commercial insurance sector.
The Rendezvous de Casablanca last week attracted around 1,000 delegates. Its theme was "New technologies and artificial intelligence: What opportunities for insurance?"