Belfius Insurance announced on Wednesday the integration of its direct insurance subsidiary Corona Direct, known for offering “per kilometer” car insurance. The Corona Direct brand therefore disappears in favor of “Belfius Direct Assurances” and the per-kilometer insurance offer is now integrated into the Belfius app.
In doing so, Belfius hopes to accelerate the adoption by Belgians of the direct insurance channel, that is to say without intermediaries. Indeed, Belfius Insurance estimates that less than 20% of non-life insurance in Belgium is currently sold via the direct channel while this proportion is much higher in the Netherlands (30%) and, above all, in Great Britain ( 62%).
Belfius Insurance also believes even more in the principle of car insurance per kilometer that since the Covid-19 pandemic, a reduction in the number of kilometers traveled has been observed. The insurer estimates that in Belgium, around two out of three drivers drive their car less than 15,000 kilometers per year.
“Already well developed abroad, the direct insurance market is still in its infancy in Belgium. Thanks to the strength and digital expertise of Belfius, and with the offer of simple but hyper-relevant products from Belfius Direct Assurances, we clearly want to move the lines”, aims the CEO of Belfius Insurance, Frédéric Van der Schueren. Moreover, the insurer’s desire is also to focus on the concept of direct insurance for petsa market “unquestionably expected to develop strongly in the coming years”, we estimate.
2023-09-27 10:40:59
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