2023-10-28 21:11:03
Digitalization constitutes a suitable channel for the development of inclusive insurance in Morocco, said Wednesday in Rabat, the president of the Insurance and Social Security Control Authority (ACAPS), Abderrahim Chaffai.
Speaking at the opening of the second seminar for the Middle East and North Africa (MENA) region on inclusive insurance and digitalization, organized by ACAPS and the Capital Market Authority of the Sultanate of Oman (CMA), Mr. Chaffai stressed that accelerating the development of the insurance sector requires the promotion of alternative offers and channels adapted to the least advantaged markets and people.
In this sense, he highlighted the role of strengthening transparency and competitiveness, protecting consumer rights, developing an effective communication strategy, in addition to continuing efforts to adapt control and supervision tools in the era of digitalization, as effective tools to promote the development of the insurance sector, reports MAP.
ACAPS, aware of the promising prospects and opportunities offered by digitalization, launched, last year, a study aimed at preparing a global and integrated strategy for the digitalization of the insurance sector, and which made it possible to developing a detailed roadmap, consistent with the Moroccan context and focused on strengthening the role of the Authority, as a key player in promoting and supporting innovation and digitalization of the sector, has namely Mr. Chaffai.
For his part, the executive vice-president of CMA, Ahmed Ali Saif Al Maamari, insisted on the importance of this meeting which is intended to be an opportunity to discuss the roadmap of the International Association of Insurance Supervisors (AICA), noting that it constitutes the fruit of cooperation between ACAPS and the CMA, following the signing of a memorandum of understanding in March 2022, in the field of regulation and supervision of the sector of insurance. He further emphasized the role of digitalization of the sector as an important tool for strengthening the principle of trust and transparency between contracting parties, as well as in improving insurance and the reduction of known distortions at the international level.
This trend towards improving digital insurance transactions, responds to the national priorities of the Sultanate of Oman, which consist of accelerating the stages of digital transformation and achieving the establishment of a “smart government”, a indicated Mr. Saif Al Maamari.
Organized in collaboration with AICA, the Access to Insurance Initiative (A2ii), the FSD Africa financial sector development program and the MENA Insuretch Association, this two-day seminar brought together supervisors from the region of MENA and aims to review strategies and policies aimed at promoting inclusive insurance and strengthening the sector’s capacities in terms of digitalization.
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