The life insurance employment sector in the Netherlands has experienced a notable decline over the years. From a peak of 7.8 thousand employees in 2016, there has been a consistent downward trend. By 2023, the number had decreased to 4.26 thousand, representing a year-on-year decrease of 6.15%. Over the last two years, the average annual decrease was 6.0%. Projecting forward, the forecasted CAGR for the next five years is -6.1%, reflecting a further drop to 2.91 thousand employees by 2028.
Future trends to watch for include the increasing adoption of digital technologies and automation within the industry, which may further reduce the need for human employees. Additionally, regulatory changes and shifts in consumer preferences toward digital insurance products may continue to drive employment changes in this sector.
