90% progress by the end of 2021

The Ministry of Economy and Finance and Bank-Al Maghrib have published the 3rd report on the National Financial Integration Strategy (SNIF). It shows that the progress in building the inclusive insurance offer dedicated to all target groups reached 90% in December 2021.

According to the document, the purpose of this offer is to give new impetus to the current offer via the existing channels and means and to develop a new offer based on especially new channels, by legal isoperimeter.

Regarding insurance offers dedicated to VSEs, aimed at developing specific insurance offers for VSEs (sectoral or cross-sectoral), the report specifies that it has reached a progress level of 30% by the end of 2021.

The agricultural insurance offer, to improve the spread of existing products and develop a new high-impact offer, reached 10%, while the legal framework aimed at initiating changes to the Code of Necessary Insurance is at 75%.

Regarding the project on financial education and encouragement of private actors, which aims to sensitize the target groups and private actors, it has reached a progress level of 50%.

Thus, the year 2022 will be dedicated to the implementation of microinsurance and the development of offers centered on VSEs, taking into account their sectors of activity, while the work on agricultural insurance and financial education is continued.

The roadmap for the “inclusive insurance” lever, largely based on the study on inclusive insurance12, lists a number of operational, legislative and regulatory projects aimed at further promoting access to insurance services by encouraging the development of a new offers, meet the needs of the target groups.

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