In 2023, the number of persons employed in the life insurance sector in Belgium stood at 17,000 employees. The employment in this sector has exhibited a gradual decline over the years, with year-on-year variations showing a consistent decrease. From 2014 to 2023, the yearly percentage drop ranged from -1.17% to -2.75%. The compounded annual growth rate (CAGR) over the last five years (2018-2023) averaged at -1.37%, indicating a steady reduction in employment numbers.

Future trends to watch for include:

Advancement in digital technologies and automation could further decrease the need for human resources in administrative functions.
Regulatory changes and increased competition may necessitate shifts in employment strategies to maintain operational efficiency and market competitiveness.
Emerging trends in customer preferences towards more digital and automated services might alter the skill sets in demand for the workforce.