Morocco: Auto insurers use ultra-fast claims centres to expedite payouts
Source: Middle East Insurance Review | Oct 2016
Several insurers have been following the lead of Wafa Assurance to set up quick processing centres to speed up the settlement of auto insurance claims.
To date, six insurers are offering this quick-claim service to their clients. They have committed themselves to settle an auto claim presented at the centres within a time duration of 30 minutes to 2.5 hours. The different insurers have set monetary limits on the claims that the centres are authorised to process on site. The ceilings currently range between MAD8,000 (US$825) and MAD20,000 depending on the insurer.
At present, the average claim in the auto insurance industry is about MAD6,000. Claims exceeding the quick-claim centre’s authority are processed the normal way by the insurers.
The latest to set up a quick-claim facility is Compagnie d’Assurance Transport (CAT) which launched a centre in Rabat exclusively for small and large taxis. Its centre is called “CAT Taawid Express”, reported the publication La Vie Eco.
Wafa Assurance first introduced its facility Taawid Sarii in 2010. Zurich inaugurated its Auto Taawid centre about three years ago. Sanad and Atlanta opened a joint centre seven months ago to optimise the resources of the two subsidiaries of the Holmarcom group. Saham Insurance currently has six quick-claim centres in major cities in the Kingdom.
Between 35% and 40% of automobile claims are now supported and settled via this channel, according to industry players.
While the goals of the insurers in operating these centres is to improve the quality of service and to attract more customers, the insured have benefited too. The ultra-fast service allows the customer to lodge his claim and be paid by his insurer in a single operation on site at the facility.
MAD1 = US$0.10