Morocco’s National Company for Guaranteeing and Financing Businesses (Tamwilcom) and the Insurance and Social Welfare Supervisory Authority (ACAPS) signed a partnership agreement on Wednesday in Marrakech to foster a startup ecosystem in the insurance sector.
Launched under Gitex Africa Morocco, the agreement will promote the emergence of “insurtechs,” or innovative startups in the insurance sector, to enhance their integration into the Moroccan entrepreneurial ecosystem.
Head of Tamwilcom Hicham Zanati Serghini told MAP news agency that the collaboration is expected to incorporate the insurtech sector into the ecosystem while encouraging the growth of innovative startups.
“In partnership with ACAPS, we are committed to ensuring that these projects meet industry standards,” Serghini added, highlighting the commitment of both parties to collaborate with various ecosystem stakeholders for more opportunities in the sector, identify startups involved in Insurtech, and evaluate next year the progress made.
ACAPS Head Abderrahim Chaffai noted that “Tamwilcom has a portfolio of projects to finance and support, and may be interested in Insurtech development.”
“As regulators, we support these startups at every stage of their development, providing legal advice and ensuring regulatory compliance to facilitate their growth,” Chaffai stated.
He pointed out that this collaboration represents a significant step toward supporting innovative startups in the insurance sector, bringing together the efforts of financial institutions and regulators to create a conducive environment for their growth.
With more than 1,500 exhibitors from over 130 countries, Gitex Africa serves as a major hub for exchanging knowledge on the latest technological advancements, particularly in artificial intelligence, healthcare, and cybersecurity.