Created in January 2023, the Innovation and InsurTech unit represents the Authority's commitment to innovation and modernization in Morocco's insurance and social welfare sector.
Its implementation is essential, motivated by the need to adapt to the fast-paced evolution in the insurance and social welfare sectors. The increasing incorporation of digital technologies is significantly influencing this growth, transforming conventional business frameworks, and changing customer habits.
The Authority ensures that technological innovation is integrated in a harmonious way that benefits both consumers and the sector as a whole. Thus, contributing to a balanced growth and preserving the competitiveness of regulated sectors in line with global trends.
The primary goals of the Innovation & Insurtech unit include:
- Creating a framework conducive to the exploration of new ideas: Providing specific support for the bearers of innovative initiatives to help them define their activity, choose the most appropriate status, and find a regulatory compliance solution that corresponds to the nature of their project.
- Identifying areas for improvement in the legislative and regulatory framework: supporting the evolution of regulations to enable the integration of new technologies and new insurance products, while ensuring the protection of policyholders and beneficiaries.
- Strengthening the Insurtech ecosystem in Morocco through collaboration and the development of synergies between the various players in the ecosystem.
- Informing and raising awareness among existing players: keeping an active information monitoring on Insurtech trends and best practices at the national and international levels and creating forums for dialogue and inspiration to ensure a proper understanding of the risks and opportunities associated with Insurtech.
The unit functions through four strategic activity poles, each tailored to meet the diverse needs of the ecosystem:
- The establishment of a Single Window to support and ensure regulatory compliance for innovative projects.
- Implementation of a Skill Enhancement Program to train the Authority's staff in innovative subjects.
- Launching an Emergence Program to foster innovative initiatives and spark the creation of new solutions.
- Proactive monitoring, engaging staff and innovators in national and international events and programs related to InsurTech, such as Bima Lab Africa.
By integrating these four activity poles, the ACAPS positions itself as a pivotal player, poised to anticipate, support, and advocate for innovation within its industry.
The authority offers a welcoming, informative, and supportive environment for innovators seeking regulatory compliance through a single channel.
A personalized support process is crafted for InsurTechs and startups in related sectors looking to enrich their services with insurance offerings.
If you are a holder of an InsurTech project and seek assistance with compliance, reach out to the Authority's single window via email at:
innovation-insurtech@acaps.ma
Once you submit your request, a member of the Innovation & InsurTech Unit will contact you within a week to grasp your requirements and, based on your eligibility, arrange an initial discovery meeting. Subsequent interactions will be scheduled to assist you in preparing for your discussion with the relevant departments of the Authority and to propose a tailored regulatory solution for your project.
The ACAPS ensures complete confidentiality of your project and the information exchanged with its representatives.