Algeria: Association launches three-year plan to modernise industry
Source: Middle East Insurance Review | Sep 2015
The Algerian Union of Insurance and Reinsurance Companies (UAR) has put into effect its action plan for the period 2015-18, which focuses on improving services, increasing public awareness, and engaging the authorities on improving the regulatory framework, said the association’s President, Mr Brahim Djamel Kassali.
Mr Kassali, who was elected to the post last September, said: “We are moving towards modernisation of the sector.” The first step taken was the signing by insurance companies of an agreement to reduce delays in settling automobile claims.
“We also suggested to the regulatory authority actions that can improve the bancassurance system to make it more flexible,” he added.
In addition, the UAR has launched a study on setting up an insurance mediation scheme. It is also working on establishing a national register of insured automobiles, which should help insurers in combating fraud.
Mr Kassali, who was speaking in an interview by L’Expression, said that the UAR aims to bring new life to a sector in which many segments remain insufficiently explored. The association’s aims include providing a framework for dialogue and exchanges on issues of common interest, enabling it to initiate proposals to improve the legal framework for the sector.