The life insurance sector in the Netherlands has been experiencing a continuous decline in employment over the past decade. The number of persons employed dropped from 7.17 thousand in 2013 to 3.75 thousand in 2023, showing significant reductions each year. The most substantial decline occurred between 2017 and 2023, with year-on-year drops of up to 13.58%. The Compound Annual Growth Rate (CAGR) over the last five years stood at -9.68%. Projections indicate further declines, with the workforce expected to decrease to 1.58 thousand by 2028, reflecting a forecasted 5-year CAGR of -13.7%.
Future trends to watch for include:
- Impact of automation and technology on job roles.
- Shifts in regulatory frameworks and their influence on employment.
- Potential market consolidation and its effects on workforce dynamics.
- Evolving customer preferences and their demand for digital solutions.
