Insurance

Insurance | The 8th RDV of Casablanca focuses on the new challenges of the sector

Mohamed Hassan Bensalah, President of the FMSAR, initiator of the Casablanca Insurance meetings.

Under the patronage of HM King Mohammed VI, the Moroccan Federation of Insurance and Reinsurance Companies (FMSAR) organized the 8th edition of the Casablanca Insurance Meetings, under the theme of “Sustainable Insurance and the expansion of health coverage”.

The 8th Casablanca Insurance Meeting, held on March 23 and 24 in hybrid mode, was marked by the respective interventions of the President of the Moroccan Federation of Insurance and Reinsurance Companies (FMSAR), Mohamed Hassan Bensalah, the Acting Chairman of the Insurance and Social Security Supervisory Authority (ACAPS), Othman Khalil El Alamy, the Director General of the National Social Security Fund (CNSS) Hassan Boubrik, and the Representative of the Association of Insurers from Kenya, Hazel Kingori, whose country was the guest of honor at this event.

What roles for tomorrow’s insurance?

In his introductory speech, the President of the FMSAR Mohamed Hassan Bensalah, affirmed that the insurance sector evolves in a world full of uncertainties, doubts and factors of instability. “Despite the unstable global context, we must move forward. And to specify that “the emergence of new gender risks undermines our classic modeling models and can jeopardize our balance. A point that the Moroccan insurance sector is currently facing through “the climate multi-risk launched in 2011, just like the device against the consequences of catastrophic events launched in 2022. Today, not all risks are covered, it you have to go gradually and with control in order to be able to build viable and sustainable systems”, he specified.

For his part, the Acting President of ACAPS recalled that “the challenges of the current national context marked by the project to generalize social protection, launched in 2021 by HM the King, challenges professionals in the insurance sector at Morocco, which must be part of this dynamic, by offering appropriate complementary insurance products”. Othman Khalil El Alamy also reviewed the efforts made by Morocco in the fight against climate change, specifying in this regard that “insurers, as institutional investors, have a major role to play in supporting the orientation of the country in its energy transition, contribute to the greening of the economy and more generally to sustainable development”.

On the other hand, the DG of the CNSS returned to the 1st stage of the social protection project in Morocco, which concerns the AMO. “The generalization of social protection to all Moroccans is a real societal revolution, said Hassan Boubrik, before adding that the CNSS is now recording unprecedented activity. “We expect, within the framework of the operationalization of the generalization of social coverage to all Moroccans, that the number of disease files processed by the CNSS will increase from less than 20,000 to nearly 90,000 per day during of the next few months. As of March 13, 2022, more than 1 million new policyholders have been registered with the CNSS. We plan to integrate the rest of the self-employed workers before the end of May 2022,” said Hassan Boubrik. “Our primary objective is to reduce file processing times to a maximum of 6 days. We hope, with the mobilization of all stakeholders, the challenge of integrating 60% of the Moroccan population into AMO, while ensuring the viability of the basic social security scheme, in the medium and long terms”, informed the Top management of the National Social Security Fund.

The 1st day of the Casablanca Insurance Meetings saw the organization of panels focused, among other things, on insurance issues related to sustainable development. The second day of the Casablanca meetings (March 24, 2022) was an opportunity for the speakers to look into the generalization of health coverage in Morocco, with a particular focus on the role and place of insurers in this area. We will come back to this in more detail in our next edition.

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Agreement

FMSAR-Association of Kenyan Insurers Partnership

ACAPS, Insurance, FMSAR, CNSS, Kenya, Morocco

From left: Hazel Kingori & Mohamed Hassan Bensalah

The 8th edition of the Casablanca Insurance Meetings was marked by the signing of a technical cooperation agreement between the Moroccan Federation of Insurance and Reinsurance Companies (FMSAR) and the Association of Kenyan Insurers. Signed on the Moroccan side by Mohamed Hassan Bensalah and Hazel Kingori, Representative of the Association of Kenyan Insurers, this partnership will enable both parties to develop their respective insurance sectors in many segments.

Mohcine Lourhzal

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They told the Reporter

Bachir Baddou, General Manager of FMSAR

“We are required to support sustainable development in Morocco”

ACAPS, Insurance, FMSAR, CNSS, Kenya, Morocco

“The eighth edition of the Rendez-vous de Casablanca de l’Assurance addresses two themes. The first is sustainable development. As an insurance company, we are required, as the Moroccan Federation of Insurance and Reinsurance Companies, to support sustainable development in Morocco, particularly in terms of covering risks related to climate change. It is also a question of being as close as possible to our policyholders, in particular by guiding them in the choice of insurance best suited to their situation. As you have been able to follow, we have signed an agreement with Kenya, which has an insurance market that is developing very well in its region. Kenya is also an example of digitalisation. Our market offers other major advances. We must not forget that Morocco is an example in Africa in the field of car insurance and all associated services. Life insurance is also an area in which the Kingdom is very advanced. As we have done with our Tunisian insurer friends, from the Ivory Coast and with our Egyptian friends, we want to exchange with our Kenyan partners to develop our respective insurance sectors”.

Othman Khalil El Alamy, Acting President of ACAPS

“Sustainable development and health coverage are intimately linked”

ACAPS, Insurance, FMSAR, CNSS, Kenya, Morocco

“We were delighted to take part in the eighth edition of the Rendez-vous de Casablanca de l’Assurance, with two themes of extreme importance, whether sustainable insurance or general medical coverage. These two themes may seem different, but in reality sustainable development and health coverage are closely linked. Citizens need to be healthy. The security of the Moroccan population concerns other aspects of their daily life, which are obviously the issues of sustainable insurance, sustainability in relation to the environment and climate risks, among others. As you know, with regard to the Compulsory Health Insurance (AMO), it is a project that is carried out by HM King Mohammed VI. Today the objective is that in the long term we can have general coverage in Morocco for all citizens. In this context, insurers will have an important role to play, since they will have to offer additional guarantees for the benefit of Moroccan citizens”.

Hazel Kingori, Representative of the Kenya Insurers Association

“The cooperation agreement with FMSAR will benefit the Kenyan insurance market”

ACAPS, Insurance, FMSAR, CNSS, Kenya, Morocco

“The cooperation agreement which I had the pleasure of signing today on behalf of the Association of Kenyan Insurers with the President of the Moroccan Federation of Insurance and Reinsurance Companies, Mr. Mohamed Hassan Bensalah in the occasion of the 8th edition of the Rendez-vous de Casablanca, will benefit the Kenyan insurance market, particularly in the medical and automotive segments in which Morocco is extremely advanced. Thanks to this partnership, Morocco and Kenya will have the opportunity to share their respective experiences and skills in the insurance sector”.

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