Insurance companies and intermediaries in Morocco are entering an unprecedented era, according to the National Federation of Insurance Agents and Brokers in Morocco (FNACAM).
The expansion of the mandatory health insurance scheme (AMO), which provides basic health coverage, is reshaping the market while artificial intelligence is making inroads into underwriting, pricing, and compensation processes. Between these two factors, intermediaries will have to reinvent themselves quickly, and above all, without denting customer trust, reported Finance News Weekly.
FNACAM president Mr Farid Bensaid, speaking at the federation’s annual meeting recently, said, "The widespread adoption of AMO is a major societal advance. But it will shift premiums from private coverage to the mandatory plan." This means that the health insurance revenues of companies and intermediaries would be siphoned off.
Thus, the priority is for the insurance industry to accelerate the expansion of health insurance plans that supplement the AMO to offset the expected decline in premiums and reposition the intermediary as a strategic advisor.
Mr Bensaid pointed to the structural fragility of the sector, with nearly 60% of intermediaries operating with annual commissions of less than MAD1m ($108,200). In this context, AI is viewed a a tool that enables fraud detection, historical analysis, and task automation, but "without replacing listening and advice".
FNACAM warned that without supplementary health insurance, without skills development, and without AI adoption, the intermediary network would face difficulties. For instance, the AMO switch alone could divert health insurance premiums totalling MAD5.5bn from the commercial insurance market. For perspective, the GWP of Moroccan insurance and reinsurance companies totalled around MAD60bn in 2024.