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Oct 2022

Tunisia: Insurance sector makes progress towards full digitalisation

Source: Middle East Insurance Review | Aug 2022

The insurance industry in Tunisia is moving towards full digitalisation, according to AMI Assurances head of the organisation and information system department Kadhem Naouar.
 
Insurance companies now already offer several digital services to meet the demand of their customers who use new generations of digital and electronic services, reported Enterprise Magazine.
 
“Digitalisation is no longer a choice but a necessity for companies that want to position themselves in the market,” Mr Naouar said in a speech delivered at the Tunisia Digital Summit in June.
 
“Insurance companies are now using AI to develop applications that meticulously meet customer requirements and demands,” he said.
 
Cyber risk pool
Meanwhile, participants of an event on the development of cyber insurance in Tunisia were told of the importance of cyber risk pooling, which will make it possible to deal with the high losses that characterise cyber incidents and make technical insurance results less volatile. In addition, they were told that the insurance sector must initiate discussions around the design of a cyber insurance product better suited to the activities of the insured and to the size of insured companies with the implementation of scalable and adequate reinsurance.
 
At the event that was organised by EY Tunisia, the General Insurance Committee, the Tunisian Federation of Insurance Companies and Tunis Re agreed on the need to raise awareness of cyber risk and guard against it, and train employees in the insurance sector on handling such risks. M 
 
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