In this article, we interview Youness Rhallam, the CEO of Alpha Assurances, our Partner in Morocco. Youness is also the Vice President of Brokerslink’s Advisory Board and is a well-respected figure in the African broking market. Over the last 20 years, the diverse markets across Africa have changed considerably, we wanted to learn more about the biggest changes Youness has witnessed, the changing role of the independent broker, and how Brokerslink is facilitating insurance growth across the region.
Over twenty years, Brokerslink has been proud to count on the expertise, knowledge and professionalism of some of the world’s most authoritative broking leaders. These individuals have been our champions, guiding the network through its journey, showcasing the Brokerslink difference to our partners and affiliates, and their clients.
In this article, we interview Youness Rhallam, the CEO of Alpha Assurances, our Partner in Morocco. Youness is also the Vice President of Brokerslink’s Advisory Board and is a well-respected figure in the African broking market. Over the last 20 years, the diverse markets across Africa have changed considerably, we wanted to learn more about the biggest changes Youness has witnessed, the changing role of the independent broker, and how Brokerslink is facilitating insurance growth across the region.
What role are independent brokers playing in enabling the growth of insurance markets across the African regions?
As local or regional companies, independent brokers have more knowledge and experience in their markets to understand their clients’ specific needs and match them with the right products. This expert knowledge enables growth in areas where big international players and other channels are less successful.
What are some of your proudest Brokerslink moments?
Brokerslink organises many events during the year including regional meetings, training workshops and participation in some of the world’s biggest insurance and risk management conferences, but our annual global conference, attended by partners and affiliates from all over the world is our key event of the year.
The global conference of Singapore in 2015, where we first announced the founding of Brokerslink as a Company, was one of my proudest moments.
I was also very proud to have hosted our global conference in Marrakech in 2017, described by many as the one of the “best” ever!
How has the African insurance market evolved since 2004?
The African insurance market has evolved considerably from a poor, third-world undeveloped market to an Eldorado for many insurance and brokerage players.
The continent had one of the most impressive worldwide increases since 2004, thanks to the global growth of the economies and their financial sectors, combined with greater education and awareness of the importance of getting cover, the development of the digital sectors and the new technologies as well as the improvement of regulation.
However, there is still a big contrast between the countries in terms of insurance penetration rates and premiums.
Why is Brokerslink important in supporting independent brokers in Africa?
Markets in Africa are very diverse, and individual partners and affiliates have different experiences and needs from the Brokerslink network. Depending on their unique situation, Brokerslink provides access to:
• Regional and international prospects, clients and sometimes even insurers and reinsurers
• International market trends, new products and insurance solutions
• Portals and digital communication tools
• Technological evolutions in premium payments, claims processing, and distribution channels
This access to resources, support, and new opportunities is one of the main reasons why Brokerslink is so important for supporting independent brokers in Africa.
