Ivory Coast: Insurers’ association lays out roadmap for the industry

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The Association of Insurance Companies of Ivory Coast (ASACI) has drawn up a roadmap for the development of the insurance industry, under its new chairman Mr Mamadou GK Kone.

Mr Kone became ASACI chairman by acclamation on 29 April 2021 and will serve for a term of three years. He is also the managing director of Allianz CI Assurances Vie and Allianz CI Assurances TIARD.
In an exclusive interview with Financial Afrik, he said that the roadmap aims to:

Accelerate the rate of claims settlement and improving the quality of service

Search for new sources of growth to breathe new life into the insurance sector

Promote digital transformation of insurance processes to achieve operational excellence and therefore better serve customers.

Revitalise relations with the insurance regulator while strengthening the place of self-regulation in the industry

Reform of ASACI to make it an essential interlocutor for Ivory Coast, the regulatory authorities, the tax authorities and all other stakeholders.

As part of the roadmap, there is an action plan to develop the insurance sector in Ivory Coast. This is based on a 2021-2022 operational plan comprising 65 actions distributed through work teams made up of members of the ASACI executive board.

Mr Kone said that these work teams should rely on the ASACI’s technical commissions and the general secretariat. “This will require a reform of the operational structures of our umbrella to make them more efficient and more productive,” he said.

He also said, “We must first quickly reform our information systems and our organisational model to adapt them to the digital world. Our information systems and organisational structures are indeed heavy, old, or even unsuited to the agility required in the new customer relationship. We must therefore break down the “product” silos that characterise our companies to give more customer transversality to our actions.

“In this new approach, the keys to a successful customer experience are based on a series of actions, including that of making claims management an excellent lever for building customer loyalty and winning over customers, ” Mr Kone said.

“With regard to the member companies of ASACI, we say that the keywords to characterise our industry, in the era of the new customer, are co-construction, technology, training, agility and creativity

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