Ghardaia – The President of the Algerian Union of Insurance and Reinsurance Companies (UAR) and CEO of the Algerian Insurance Company (CAAR), Youcef Benmicia, affirmed on Saturday from Ghardaia that “2025 will be the year of quality service in the insurance sector.”
On the sidelines of a study day on “Multi-Risk Insurance as a Solution for Securing Economic Actors,” Mr. Benmicia explained that with the revision and amendment of the Insurance Law, it will contribute to strengthening the adaptation and governance of insurance companies, as well as the role of regulatory bodies, while improving the quality of services provided to customers.
He added, “Through the ratification of this law, we can diversify our insurance products and systems, not only through financial inclusion but also by assuming new risks, particularly those related to climate change and major hazards, and accelerating and generalizing the pace of digital transformation.”
He further stated that it is about “keeping pace with the economic dynamism that the country is experiencing and achieving new qualitative ‘leaps’.”
Speaking about the objective of this meeting held in Ghardaia, the CEO of CAAR indicated that “the goal is to disseminate and consolidate the culture of risk insurance among all economic actors and operators.”
Insurance experts and stakeholders at this information day reiterated the need for insurance companies to adapt to ongoing economic transformations, cyber risks, and modern technologies to improve proposed insurance programs.
Several speakers emphasized the necessity of enhancing insurance offerings and changing the role of insurance registrars by assigning them new responsibilities to develop effective prevention mechanisms.
This information day on multi-risk insurance, organized by the Algerian Insurance Company in collaboration with the General Union of Algerian Traders and Craftsmen (UGCAA), is part of the development of insurance offerings, such as agricultural insurance against climate risks.
This meeting is the first stage in a broad communication campaign to raise awareness among economic partners and producers in the region about the benefits of multi-risk insurance.
According to presented data, Algeria has 25 insurance companies (private, state-owned, and foreign).
By nor eleslam
dzwatch.dz
