Innovation & insurtech

Established in January 2023, the Innovation and InsurTech Unit embodies the commitment of the Supervisory Authority of Insurance and Social Welfare (ACAPS) to modernize the insurance and social welfare sector in Morocco. As a catalyst for innovation, this initiative reflects the Authority's ambition to modernize business models while ensuring balanced growth and enhancing the sector's competitiveness.

In a context characterized by the rapid evolution of technologies and changing consumer expectations, ACAPS supports sector stakeholders in their transition toward more innovative business models. The Authority's objective is to ensure the seamless integration of technological innovation, providing sustainable benefits for both consumers and the sector while safeguarding the protection of policyholders and the resilience of the industry.

This commitment, outlined in ACAPS' 2024-2026 Strategic Plan, aims to promote the development and transformation of the insurance sector by supporting digitalization, innovation, and sustainability. This positioning aligns with a vision of sustainable and balanced growth, bringing the Moroccan sector in line with international best practices in digitalization and innovation.

The Innovation and InsurTech Unit's mission is to act as a catalyst for innovative initiatives within the insurance and social welfare sector.

Its primary responsibilities include :

Creating a supportive environment for exploring new ideas, providing specific support to innovators to help them define their activity, choose the most appropriate status, and find a regulatory compliance solution suitable for their project.
Identifying areas for improvement in the legislative and regulatory framework, supporting the evolution of regulations to enable the integration of new technologies and new insurance products while ensuring the protection of policyholders.
Contributing to the consolidation of the InsurTech ecosystem in Morocco through collaboration and the development of synergies among the various ecosystem stakeholders.
Informing and raising awareness among stakeholders, ensuring active monitoring of trends and best practices in InsurTech at both national and international levels, and creating spaces for dialogue and inspiration to ensure a proper understanding of the risks and opportunities associated with InsurTech.

The Unit operates through four strategic activity areas, each designed to specifically address the diverse needs of the ecosystem:

Single Window "InsurTech Journey": Dedicated to supporting and ensuring compliance for innovative projects.
Emergence Program: Focused on encouraging innovative initiatives and stimulating the creation of new solutions.
Skills Enhancement Program: Aimed at training ACAPS staff to enhance their understanding of innovative topics.
Active Monitoring: Mobilizing staff to participate in national and international events related to InsurTech.

As a regulator and proactive player in the modernization of the insurance sector, ACAPS aims to provide an environment conducive to innovation, thereby ensuring sustainable growth for all sector stakeholders.