Insurance Sector in Tunisia Continues to Grow Despite Global and Local Crises
The insurance sector in Tunisia, considered a fundamental pillar of the national economy, continues to grow despite a global and local context marked by successive crises. According to Hatem Amira, General Manager of the Tunisian Federation of Insurance Companies (FTUSA), the sector's turnover increased by 10% in 2024, reaching 3.82 billion dinars, compared to 3.45 billion dinars in 2023.
Speaking on Express FM on Wednesday, October 1, Amira highlighted that the sector employs more than 10,000 people, both directly and indirectly, and includes around 1,200 insurance agents, 60 intermediaries, as well as banks and postal services that distribute contracts. He recalled that the contribution of insurance to the Tunisian GDP currently stands at 2.4%, with the potential to reach 5%.
The General Manager emphasized the importance of automobile insurance, which accounts for 40% of the sector's total turnover, closely followed by life insurance (30%), indicating an increased awareness among Tunisians of the importance of long-term savings. Health insurance occupies the third place in terms of revenue.
Despite this progress, Hatem Amira noted that the average annual insurance expenditure per inhabitant remains low, at 318 dinars, well below international standards, and should ideally reach 500 dinars to better secure citizens.
Moreover, the sector faces significant challenges, including a 10% increase in paid compensation, reaching 2.05 billion dinars, due to inflation and fraud, estimated at around 200 million dinars, mainly in automobile insurance. Organized networks are setting up scams by simulating fictitious accidents, prompting companies to adopt artificial intelligence technologies to detect and prevent these frauds early on.
In terms of technology, the sector is accelerating its digital transformation. In 2024, a data exchange system between insurance companies was launched to reduce the settlement time for claims. An electronic platform called "E constat FTUSA", currently in the pilot phase, will soon replace paper accident reports with digital documents, with a deployment planned for November.
Hatem Amira concludes that these initiatives aim to significantly improve the customer experience while strengthening the quality and transparency of services.
