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Snapshot: A Quick Look at the Insurance Industry in Belgium

4 minutes, 33 seconds read

The market for insurance in Belgium has been stable for over a decade. Unless Insurers adopt new strategies and embrace external partnerships, organic growth seems next to impossible. 

While insurers in other parts of the world are leveraging technology for better customer acquisition, Belgian Insurers struggle with stringent customer data protection laws.

This is the time for major business alignments to keep up with the changing customer expectations. For instance, the brokerage system dominates nearly 60% of non-life insurance distribution in Belgium. Unfortunately, 31% of the brokers have a negative attitude towards digitization and InsurTech, mainly because of the lack of awareness about the subject.

With current business models, there’s negligible hope that Belgian Insurers will remain competitive. Let’s look at the key drivers of ‘change’.

Challenges-and-opportunities-of-insurance-in-Belgium

The ‘Change’ Drivers for Insurance in Belgium

The threat to lose customers for being slow in a fast-moving age is imposing some serious pressure on Insurers in Belgium. The change in customer expectations and lifestyle will drive the transformation of the Belgium Insurance Industry. The other factors that will impact the insurance include- economy, technology, life expectancy, climate change, and competition.

Digital and Mobile Adoption

The Deloitte Global Mobile Consumer Survey 2018 reveals— 84% of Belgians own at least one mobile device. This indicates a growing preference for digital, self-service platforms, and ease of access irrespective of location. Insurers are, thus, compelled to look beyond agent-driven pitches. 

For example, Trov— an American technology company provides ‘on-demand’ insurance for individuals’ properties for short durations. Customers only need to register their properties, activate insurance for a desired duration, and pay a daily premium. 

Now that over 60% of non-life insurance products are distributed by brokers, this is also the time to train and equip brokers with handy apps.

Economical Changes

The world is rapidly moving towards a sharing economy, which involves short-term P2P (Peer-to-peer) transactions for shared use of products and services. The societal shift towards the open data economy fueled the open banking trend. Recently, insurers are following the trend as open insurance. 

“..The economy has been moving beyond narrowly defined industries built around large, vertically integrated, and mainly “self-contained” corporations. New means of creating value have been developing everywhere in the form of ever-denser and richer networks of connection, collaboration, and interdependence…” (Business ecosystems come of age. Kelly, E., 1 April 2015, p. 4.)

Belgium is set to witness the following major economic shifts-

  1. Mobility – Belgians demonstrate an inclination toward multimodal mobility solutions. For example, Antwerp-based Olympus Mobility- an app for cars & bike pooling and parking services is set to expand its services in more Belgian cities.
  1. IoT – Lifestyle and product preferences are changing with connected devices. With new customer expectations, insurance needs and opportunities are also growing. For example, Phil at Home by AG Insurance is a compound product with services in the field of prevention, protection, and assistance for elderlies.

Adoption of Technologies across Industries

Digital has put customers in the center. While other industries stay ahead with technological adoption, Insurers need to invest in innovative products that cover emerging risks. For example, Spotify’s personalized recommendations and Apple’s assistant – Siri are setting a benchmark for customizing the products at an individual level. “Yet what has become the new normal for those companies, remains a challenge for insurers,” says Dirk Vanderschrick, CEO, Belfius.

The Insurance industry in Belgium is yet to adopt biometrics, recommender systems, sentiment detection, and natural language generation. Currently, 60% of Belgian Insurers use text analysis; 40% use chatbots and object detection; 20% exercise automated decision making and pattern detection; according to Monitor Deloitte’s One Minute Survey, Artificial Intelligence (May 2018).

Apart from AI-enabled tools, the Belgium Insurance sector will soon adopt blockchain, Automation, Analytics, XaaS, and IoT. 

Related articles – 5 AI trends reshaping the Insurance sector , How does XaaS help your business, Blockchain in Insurance

Competition

Today, business models have a shorter life cycle because of digital disruption. The competition for incumbents is fierce-  with 4 bEUR potential investment in InsurTech in Belgium. 

Many have thought of phygital experience as progressive- where paper and paperless processes coexist. However, in the long term, their existence is questionable. For example, Lemonade is racing the core insurance with paperless and personalized insurance packages delivered to the customer in just 90 seconds!

In line with the fact that customers want a solution to their problems – the one who provides the most appropriate solution in the easiest way possible, wins.

Regulatory Changes

Compulsory health and car insurance policies had a great impact on sales volume. Apart from being an entry barrier for small players, the existing regulations no more align with climate changes, longevity, and technological disruptions.

The Belgian Government is set to launch Payment Service Directive 2 (PSD2) by 2024 and IFRS 17 (International Financial Reporting Standard) by 2021. Nearly 70% of Insurers believe PSD2 will have a positive impact in the insurance value chain.

‘Beyond’ Insurance is the Future

According to Insurance Experts from Deloitte, non-core insurance products and services drive 10-30% of the revenue. Therefore, complementary services or value-added services can bring a greater competitive advantage to the insurers. 

For example, the US-based Oscar Health Insurance encourages a healthy lifestyle by financially rewarding its customers. It tracks footsteps, eating habits, workouts, etc. on its app through wearables. It further supports customers with doctoral advice and scheduling appointments. These value-added services, along with traditional health insurance is a win for customer loyalty. 

We’re an InsurTech100 company championing back and front-office automation solutions along with interactive applications for the new-age digital insurer. Drop us a line at hello@mantralabsglobal.com to know more.

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Sales Applications Are Disrupting More Than Just Sales

Sales success today isn’t about luck or lofty goals—it’s about having the right tools in your team’s hands, wherever they go. Following our earlier in-depth exploration of sales technology, we will now examine how cutting-edge sales apps are becoming the backbone of modern industries, transforming complex workflows into seamless, growth-driving machines.

From retail to healthcare, logistics to real estate, businesses are deploying sales applications to enhance operational transparency, cut redundant tasks, and build intelligent sales ecosystems. These tools are not only digitizing workflows—they’re driving growth, improving engagement, and redefining how field teams operate.

Lead Ecosystems: Unified visibility across channels

One app. Five workflows. Zero friction.

A leading insurance brand relaunched their app—a sleek, powerful sales companion that’s turning everyday agents into top performers.

No more paperwork. More time to sell.

Here’s what changed:

  • Every visit is tagged, tracked, and followed through. Renewals? Never missed. Leads? Fully visible.
  • Attendance and reimbursements went on autopilot. No more manual logs. No more chasing approvals.
  • New business and renewals are tracked in real time, with accurate forecasting that sales leaders can finally trust.
  • Dashboards are clean, configurable, and useful—insights that move the business, not just report on it.
  • Seamless Integrations. API connectivity with Darwin Box, IMD Master Data, and SSO authentication for a unified experience.

The result? A field team that moves faster, sells better, and works smarter.

Retail: Taking Orders from the Frontline—Smartly

Field sales agents in retail, especially FMCG, used to rely on gut instinct. Now, with intelligent sales applications:

  • AI recommends what to upsell or cross-sell based on previous order patterns
  • Real-time stock availability and credit status are visible in the app
  • Geo-fencing ensures optimized route planning
  • Built-in payment collection modules streamline transaction closure

Healthcare: Structuring Sales with Compliance and Precision

Healthcare leaders don’t need more reports—they need better visibility from the field.  Whether it’s engaging hospital networks, onboarding clinics, or enabling diagnostics at the last mile, everything needs precision, compliance, and clarity. 

Mantra Labs helped a leading healthcare enterprise design a sales app that integrates knowledge, compliance, performance, and recognition, turning frontline agents into informed, aligned, and empowered brand advocates. 

Here’s what it delivers:

  • Role-based onboarding that keeps every level of the field force aligned and accountable
  • Escalation mechanisms are built into the system, driving transparency across commissions and performance reviews
  • A centralized Knowledge Hub featuring healthcare news, service updates, and training modules to keep reps well-informed
  • Recognition modules that celebrate milestones, boost morale, and reinforce a culture of excellence

Now, the field agents aren’t just connected—they’re aligned, upskilled, and accountable.

Real Estate: From Cold Calls to Smart Conversions

For real estate agents, timing and personalization are everything. Sales applications are evolving to include:

  • Virtual site tour integration for remote buyers
  • Mortgage and EMI calculators to increase buyer confidence
  • WhatsApp-based lead capture and nurture sequences
  • CRM integration for inventory updates and automatic scheduling

Logistics: From Chaos to Control in Field Coordination

Field agents in logistics are switching from clipboards to real-time command centers on mobile. Modern sales applications offer:

  • Live delivery status and route deviation alerts
  • Automated dispute reporting and issue resolution tracking
  • Fleet coordination through integrated GPS modules
  • Customer feedback capture and SLA dashboards

What’s new & what’s next in Sales Applications?

Here’s what’s pushing the next wave of innovation:

  • Voice-to-Text Logging: Agents dictate notes while on the move.
  • AI-Powered Nudges: Apps that suggest next-best actions based on behavior.
  • Omnichannel Communication: In-app chat, WhatsApp, email—unified.
  • Role-Based Dashboards: Different data views for admins, managers, and field reps.

What does this mean for Business Leaders?

Sales Applications are not just tactical tools. They’re platforms for transformation. With the right design, integrations, and analytics, they:

  • Replace guesswork with intelligence
  • Reduce the cost of delay and manual labor
  • Improve agent accountability and transparency
  • Speed up decision-making across hierarchies

The future of field sales lies in intuitive, AI-driven applications that adapt to every industry’s nuances. At Mantra Labs, we work closely with enterprises to custom-build sales applications that align with business objectives and ground-level realities.

Conclusion: 

If your agents still rely on Excel trackers and daily call reports, it’s time to reimagine your sales operations. Let us help you bring your field operations into the future—with tools that are fast, field-tested, and built for scale.

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