CDG Invest, the investment arm of Groupe CDG, and the Insurance and Social Welfare Supervisory Authority (ACAPS) have signed a partnership agreement to invigorate the Insurtech ecosystem in Morocco. This collaboration combines the strengths of both institutions to support innovation and the growth of startups in the insurance and social welfare sectors.
Strategic partnership for insurtech growth
The agreement was signed by Khalid Safir, General Director of Groupe CDG and Chairman of the Board of CDG Invest, and Abderrahim Chaffai, President of ACAPS, during the GITEX Africa 2024 event in Marrakech. The primary goal of this framework agreement is to foster the development of an Insurtech ecosystem, promote innovation, support startup growth, and enhance Morocco’s digital transformation.
ACAPS’ role in promoting technology
ACAPS, as the regulator of the insurance and social welfare sectors, places the promotion of new technologies at the core of its strategic directives. The authority has established the Innovation & Insurtech Unit, which plays a pivotal role in driving innovation by developing synergies among all stakeholders in the sector. This partnership will enable ACAPS to assist Insurtech project leaders with regulatory compliance.
CDG Invest’s commitment to innovation
CDG Invest, as a financial investor, aims to support innovation and promote Moroccan entrepreneurship, particularly through its 212Founders program. This initiative focuses on supporting and financing startups within the Fintech and Insurtech ecosystems.
Coordinated efforts for insurtech development
This partnership will coordinate initiatives aimed at developing the Insurtech ecosystem, fostering cooperation in the creation and launch of startups supported by 212Founders, and exchanging information and best practices in the Insurtech field. Both parties will implement a comprehensive framework and deploy the necessary efforts to support the growth of Insurtechs, enhance customer experience, and promote insurance inclusion, thereby contributing to the digital transformation of the insurance sector in Morocco.
