HAVEWhen crises follow each other, the insurance sector has so far shown resilience. In 2021, the industry posted satisfactory indicators with no less than 50 billion MAD in premiums issued and a growth of almost 10%.

“Our sector has been put to the test in recent years, but we have managed to maintain our activity. The performance recorded in 2021 testifies to our resilience and strengthens us in our efforts”, declared the President of the Moroccan Federation of Insurance and Reinsurance Companies (FMSAR), Mohamed Hassan Bensalah, during the last meeting with the agents and brokers . For him, the growth in premiums is the result of the dynamism the sector has shown for several years, but not only. “We found that uncertainty factors push economic players to strengthen their coverage to improve their resistance to risks,” said he.

The legal arsenal related to the generalization of AMO, which will become popular from December 1, has been completed. For insurance companies, the generalization of health insurance is cause for concern, as this will necessarily lead to a loss in terms of customers. “If there is another sensitive issue that we should handle intelligently, it is the mandatory health insurance, which will lead to our customers switching to CNSS. The impact will undoubtedly be significant for insurance companies”, noted Mohamed Hassan Bensalah, for whom agents and brokers will also have a significant deficit, which must be compensated by supplementary health insurance and by death and disability insurance, which “we will benefit from developing further “.

The same applies to the interim president of ACAPS, Othman Khalil El Alamy, who indicated that “the most imminent risk is that which weighs on health insurance in the short term, with the generalization of social protection and the transfer of the population covered by article 114 of the AMO -law to the CNSS”. And to explain that for insurance intermediaries more than 60% of the health insurance commissions come from the compulsory insurance, and therefore just under 40% of the commissions come from the non-compulsory insurance. “This strong dependence on statutory insurance is a risk factor for us. This is to tell you that insurance intermediaries are encouraged to step out of their comfort zone to seek out customers and develop optional insurance,” insisted El Alamy. It should be noted that the intermediaries receive approximately MDH 367 in commission on this branch.

Recovery: when will there be a final solution?

Although insurance companies renew the vast majority of business contracts at the end of the previous financial year, payments are made in installments and some businesses will be very tempted to defer this expense. Recovery is a real pet in the business of insurers and intermediaries. “If there is one issue that continues to worry us and on which our market has not progressed, it is collection. It is not normal that our sector, which has been structured and modernized, remains trapped in an archaic system which in certain cases can lead to dramatic situations.

Electronic payment tools can be used to improve this process and secure it, both for policyholders and for intermediaries and companies,” notes Bensalah. It must be said that the relationship between intermediaries and insurance companies is often changed by the problem of claims on intermediaries. This problem, which has been going on for years, takes a lot of time and effort on both sides. In addition, ACAPS intends to implement two projects in cooperation with the stakeholders: the first project concerns the settlement of debts to intermediaries, while the second one aims to find solutions to avoid this debt problem or at least reduce its extent.

“We suggest that you together make a reflection in this direction and examine the possibility of using new payment technologies, to free yourself from the benevolence of the insured in terms of payment, to ensure the provision of cash and to receive commissions in steps. This project, which obviously cannot be built without the involvement of ACAPS, could initially focus on car insurance before expanding to other risks,” Bensalah suggested.