Insurance agents and brokers are working to double Morocco's insurance penetration rate by 2030, according to Mr Farid Bensaid, president of the National Federation of Insurance Agents and Brokers of Morocco (FNACAM).
The insurance penetration rate in Morocco currently stands at 4.1%. While this rate is higher than the African average of 4%, it is well below the real potential of the Moroccan market.
Mr Bensaid told the news platform Le Matin that several levers need to be activated to achieve the ambitious goal of doubling the penetration rate. He said, “In 2030, Morocco will host the World Cup, an event that will accelerate investments in technology and infrastructure. The insurance sector will need to support this momentum, particularly in terms of risk prevention and management.”
He said that development will require a dual approach: technological and social. He added that artificial intelligence must be seen as an ally, not a threat. Repetitive or technical tasks, such as fraud detection or history analysis, can be effectively handled by machines.
But the essence of the intermediary profession remains human: listening, understanding, and advising, he said. FNACAM encourages its members to equip themselves with AI tools while promoting customer relations and trust.