The National Company for Business Guarantee and Financing (Tamwilcom) and the Insurance and Social Welfare Supervisory Authority (ACAPS) signed a groundbreaking partnership agreement on Wednesday in Marrakech. This collaboration aims to foster the growth of startups in the insurance sector, specifically focusing on innovative insurtech companies.

Promoting insurtech innovation at Gitex Africa Morocco

Unveiled during the Gitex Africa Morocco event, this initiative seeks to encourage the emergence of insurtech startups and enhance their integration into Morocco’s entrepreneurial ecosystem. The agreement emphasizes the critical role of innovation in the insurance industry.

Hicham Zanati Serghini, General Director of Tamwilcom, highlighted the partnership’s goal to embed the insurtech sector within the broader business ecosystem while nurturing innovative startups. “We recognize the highly regulated nature of this sector, where compliance is paramount. Partnering with ACAPS, we commit to ensuring these projects meet industry standards,” Serghini stated.

He also underscored the commitment of both parties to collaborate with various ecosystem stakeholders, presenting opportunities within the sector, identifying active insurtech startups, and evaluating the progress made in the upcoming year.

Regulatory support and growth facilitation

Abderrahim Chaffai, President of ACAPS, emphasized the significance of this partnership in developing the insurance startup ecosystem. He noted that Tamwilcom has a portfolio of projects ready for financing and support, which could benefit from insurtech advancements.

“As regulators, we support these startups through all development stages, providing legal advice and ensuring regulatory compliance to facilitate their growth,” Chaffai affirmed.

A Major Step Forward for Innovative Insurance Startups
Chaffai also stated that this collaboration represents a substantial step forward in supporting innovative insurance startups. By combining the efforts of financial institutions and regulators, the partnership aims to create a conducive environment for these startups to thrive.

The Gitex Africa event, featuring over 1,500 exhibitors from more than 130 countries, serves as a major hub for discussing the latest technological advancements, particularly in artificial intelligence, healthcare, and cybersecurity.