Meriem Bouhriz: ‘Insurance is a very important source of tax revenue for the Moroccan government’
When discussing the insurance sector in Morocco, it is essential to mention RMA Assurance, one of the country's leading insurance companies in terms of date of establishment and market share. Its general agent, Meriem Bouhriz, spoke to Atalayar and explained the types of insurance they offer.
When was your company founded and what were its origins?
RMA Assurance is the first Moroccan insurance company, founded by Benjamin Altman in 1957, and is the second largest in terms of insurance sales in Morocco. Personally, I have my own law firm, which I opened in 2003, and we have been representing RMA as general agents for 20 years.
What types of insurance do you offer your clients?
For our personal insurance, we offer compulsory car insurance. We can also offer home insurance for those in the liberal professions, or comprehensive insurance for your office, shop, laboratory... we are open to the sector of activity of each of our clients. In addition, we offer medical insurance, which I think is very important today with the democratisation of healthcare in Morocco, as well as assistance when travelling abroad.
What insurance products do you offer to businesses?
For our business customers, the range is quite broad. We offer all types of industrial multi-risk insurance or multi-risk insurance for specific sectors, whether in industry, commerce or logistics; it all depends on the sector. We also insure their staff: when it comes to accidents at work, we insure the health of all employees. And we can help them with civil liability, whether for their products, their operations or any specific needs they may have, depending on their sector of activity.
What kind of customers use your services?
All kinds of customers, mainly businesses and individuals, so we're talking about a 50/50 split.
Do you have foreign clients, expatriates?
Yes, Tangier is becoming a very important sector for attracting foreign investment. Today, we are consulted by all industrial zones, expatriates, European and Asian companies setting up in Morocco, and even American companies. So we have many Spanish, American and Asian policyholders who are present in various sectors, particularly in aeronautics and automotive. And then there is the textile sector. So the Spanish presence is very well represented in Morocco.
Do you have any products specially designed for expatriates?
Once expatriates have settled in, we no longer consider them expatriates. For us, they are locals, Moroccan citizens. That's why we are always ready to take care of them, their health, their car, their home, and we also take care of them when they are here, because it's true, if something goes wrong, they have to be repatriated home. We offer somewhat specific assistance products for expatriates.
Foreign businesspeople who settle in Morocco are often concerned about health insurance. What kind of health coverage do you offer and how many healthcare centres do you have agreements with?
We have two types of offers: general health insurance, which is very good nowadays, with the support of the National Social Security Fund (CNSS); and supplementary insurance. They have almost total coverage and there are quite a few clinics in Tangier and public hospitals. We are open to working with any centre and, specifically, we have an insurance contract through RMA, the Pack Santé Monde contract, which means that the insured can be insured both abroad and in Morocco. We also have agreements with many clinics abroad, with the exception of a few countries such as the United Arab Emirates and Saudi Arabia.
What home and vehicle insurance cover do you offer expatriates?
We insure the expatriate's home, contents and furniture. We also offer assistance in the event of lost keys. As they are foreigners, they are not familiar with the various trades, so we have a 24-hour assistance service, available on a platform that customers can call at any time in the event of lost keys, theft or damage. Through this platform, they are insured and we keep an eye on them, because we know that they are not familiar with the city and how to get around.
The same applies to their car: we try to cover the risk, we have full car coverage and we have approved garages, which means that if you have a problem, you go directly to our garages and they take care of you. RMA picks up the vehicle, repairs it, provides a replacement car and appoints an expert on site. The customer gives us the keys and we return the repaired car.
The economic development of the Tangier-Tetouan-Al Hoceima region has been exponential in recent years. We imagine that this has also been reflected in the insurance sector...
Exactly. As you know, insurance is a very important source of tax revenue for the State. And thanks to the watchful eye of His Majesty and the entire team behind him, we have worked hard. Today, we have quite a few foreign companies set up here and we have noticed that the sector has grown exponentially. We have realised that the need is there, that employment creates employment. So, when we talk about employment in consumption, the insurance sector follows the same path: we insure your sector, we insure your staff, and we have really noticed the difference. As someone with 20 years of experience in this field, there has been a really big increase in the last 10 years.
Finally, what type of coverage would you recommend to an entrepreneur who wants to set up in Morocco, both as an individual and as a company?
Firstly, it is mandatory for anyone setting up in Morocco, and when expatriates arrive, the first thing they have to do is take care of their staff. The second thing that is very important is to insure the industry, because everything that goes into the industry is materials, raw materials. Once the product is finished, we are there to also cover the expatriate's needs, i.e. the product is there, it is made in Morocco and we export it, so we oversee the export process and basically guarantee that their products arrive safely to their customers abroad.
