The insurance and reinsurance sector is considered one of the fundamental sectors that support the national economy and maintain its stability, thus encouraging investment and ensuring its sustainability, according to Lamia Ben Mahmoud, CEO of Tunis Re.
In an interview with AfricanManager, she pointed out that despite national and global changes, Tunis Re has demonstrated its ability to withstand and maintain its position as a national reinsurer on the Tunisian market or as a leading reinsurer with a good reputation in its Arab and African geographical affiliation.
She added that today, with the development of technology and the trend towards the application of artificial intelligence in many fields, the insurance sector is following this development and studying how to exploit it in insurance and reinsurance operations, because it offers great potential for improving and developing insurance services and making them compatible with the needs of different types of clients.
Interview:
How important is the integration of artificial intelligence in the insurance sector?
The trend towards the use of artificial intelligence (AI) is important in all fields and sectors, as it is considered one of the most important technologies to solve many problems arising from technological development, especially with regard to cyberattacks and risks.
In the insurance sector, the use of AI is considered extremely important for the statistical analysis of accidents, the anticipation of risks and the reduction of fraud, as well as for the adaptation of insurance cover to the needs of policyholders and the identification of their needs, in addition to contributing to the processing of accidents with the necessary speed and accuracy.
How has Tunis Re been able to achieve positive results in recent years?
In fact, the insurance sector is one of the most important economic sectors for development. This is demonstrated by the money it generates, which is of great value and can be used in the long term.
And it is a means of ensuring the continuity of investment, protecting institutions and individuals against accidents and all kinds of emergencies.
As a result, the insurance industry needs a reinsurer with the skills and capabilities to meet the challenges and enhance its ability to provide cover conveniently and efficiently.
Although the company has gone through many successive crises in recent years, such as the COVID-19 pandemic, then the Russian-Ukrainian war and now the Middle East region, it has been able to maintain its position in the Tunisian market and as a leading player with a good reputation in its Arab and African market.
All the indicators bear this out: Tunis Re has achieved annual growth of around 13% and a positive result of 100%, while its technical and financial activities continue to generate positive surpluses and satisfactory results.
Are there any new reinsurance projects to be launched in the near future?
Of course we are working on technological development, but we have also tried to adapt to our environment in a number of very important projects.
The first project, which can be described as gigantic, is related to data management, because it’s a large-scale project that will give the company a 360-degree view and enable it to process data efficiently (…).
Another project is currently being developed to prepare appropriate cover, in partnership with government and industry bodies, to deal with the risks of natural disasters (…).
What is your assessment of the business climate in Tunisia?
The changes and circumstances that various countries around the world are experiencing have led to a state of stagnation in the global economy, but the national economy has demonstrated its resilience, as you can see from the repayment of large loan instalments and the reduction in inflation rates and the trade deficit, in addition to the fact that certain sectors have shown dynamism (…). There is a positive trend, as in the tourism sector. All this bodes well for a better future for Tunisia.
