Allianz Maroc, a leading player in the insurance market, has partnered with M2T, the payment institution of the BCP Group, operating in Morocco through its Chaabi Cash and Tasshilat networks. This strategic alliance is set to provide Moroccan consumers with a new, secure payment experience through Allianz Maroc’s extensive network.
This collaboration has been made possible by regulatory changes that now allow insurance intermediaries to offer payment services. A decree issued on April 29, 2019, following amendments to Law No. 17-99 of the Insurance Code (further revised on January 9, 2024), enables insurance agents to become licensed payment agents. In practical terms, Allianz Maroc clients will soon be able to transfer money, pay bills, and top up their mobile phone accounts directly at their Allianz agent’s office.
As part of the partnership, M2T will soon introduce its full range of products and services through Allianz Maroc’s general agents. Both existing customers of the insurance company and walk-in clients will have access to a wide range of services, including bill payments, money transfers, mobile top-ups, and Mobile Wallet operations. These services will be offered in a convenient, fast, and secure manner at Allianz Maroc’s service points.
Abderrahim Dbich, CEO of Allianz Maroc, emphasized the importance of this collaboration: “The partnership with M2T, along with the support of our network of general agents, has allowed us to develop a tailored offer specifically for our network.”
The cooperation initially began with the launch of an instant payment service for car insurance claims, designed to streamline the reimbursement process. This system will soon be expanded to other insurance sectors, further simplifying and enhancing the customer experience.
Abderrahim Dbich expressed confidence in the long-term potential of the partnership, highlighting the opportunities that Mobile Wallet solutions and inclusive insurance could offer: “We believe that this collaboration will endure and be strengthened by the potential of Mobile Wallet solutions and the promising opportunities provided by inclusive insurance.”
Omar El Mghari Idrissi, CEO of M2T, also commented on the significance of this partnership: “This is a groundbreaking partnership in the insurance market, allowing Chaabi Cash to integrate with Allianz Maroc’s network. It marks a new step in our commitment to the national strategy for financial inclusion, providing a wider customer base with a comprehensive range of local, seamless, and secure services. We are thrilled to welcome Allianz Maroc as a key partner and to further extend our territorial reach, now with over 7,000 service points.”
This initiative aligns with Allianz Maroc’s strategy to offer its general agents new opportunities to grow their business. Additionally, it reinforces M2T’s strong position in the Moroccan market for payment solutions and local services. By working together, Allianz Maroc and M2T aim to provide innovative and accessible financial services that meet the evolving needs of Moroccan consumers.
