The Moroccan insurance regulator, the Supervisory Authority of Insurance and Social Welfare (ACAPS), in partnership with the development agency FSD Africa, has launched a call for applications for the "Bimalab Insurtech Accelerator" program for the second year in a row.
Targeted at innovative project leaders in the Moroccan insurance sector [4], this program is aimed at strengthening the skills of insurtechs and ensuring an environment conducive to the development of their projects.
The selected startups will be supported for a period of six months, and will be given the opportunity to present their projects to potential investors and companies.
Winners will receive a financial reward of up to 20 000 USD.
FSD Africa is rolling out the Bimalab initiative in Morocco and several other African countries, including Nigeria. The program has already helped 63 insurtechs. Twenty of these companies have signed strategic partnership agreements and begun marketing their products.