A tailored and evolving range of products

Foyer pays particular attention to the development of its products and ensures that they are regularly adapted to regulatory changes, market trends and customer needs.

To meet these needs, product design and service optimisation are based on agile methods, including client involvement from the outset. For this purpose, a specialised 10-person team with technical, actuarial and project management skills leads a number of multi-disciplinary communities designed to come up with innovative products and services. These communities bring together the various stakeholders within the Group, both internally and in the agent network, to meet clients’ expectations and concerns as effectively as possible, while respecting the Group’s profitability requirements.

At the same time, an experienced team works hard every day to enhance the Group’s image and raise the profile of the Group and its products. The Group’s 100th anniversary was a unique opportunity to reinvigorate the brand and publicly reaffirm its values, positioning and areas of development. Through a futuristic communications campaign, Foyer celebrated its history, while looking to the future and the world. The idea behind the campaign? Even if it’s difficult to predict the future, Foyer will always be there to protect its clients, a strong and promising message.

In terms of its offer, Foyer is constantly seeking to provide a range of products adapted to its clients’ needs. From mobilé to mozaïk and smartlife, its products are adapted to lifestyles, means of transport and habits, with customisable and modular offers. And in response to clients’ growing expectations in terms of sustainability and social responsibility, Foyer develops its products with their ESG aspects in mind. This ranges from soft mobility insurance to investment savings products based on CapitalatWork funds, two of which have been awarded the ESG label by the LuxFlag agency. With smartlife and invest4change, Foyer is positioning itself as a financial player by offering an alternative to banking products, with the advantages of life insurance and a sustainable offering.

Innovation serving both agents and clients

To optimise its processes and meet its clients’ expectations, Foyer has for many years relied on an intermediated multi-channel strategy.

This is based on a large network of professional agents throughout Luxembourg and a dedicated customer service department at the company’s head office, as well as a set of digital tools, such as a website, a private client area and the MyFoyer mobile application. In this way, Foyer is able to respond to its customers’ needs and answer their questions anywhere, any time through multiple means of communication.

For Foyer, personal contact and client relations built on trust and proximity remain the key elements to continue to add value to its insurance services in an increasingly digitalised world. In this regard, Foyer can count on the expertise of its network of agents, which includes more than one hundred and twenty offices across the country.

Wherever and whenever it is needed, Foyer keeps in touch with its clients: in branches, at the head office, remotely, or via the many useful features of the MyFoyer client area. More than 92,000 Foyer clients use this interface. Many of them have also opted for the complete dematerialisation of their documents, thereby making a useful gesture both for themselves and for the environment.

To guarantee a high level of skills and professionalism for its network of agents, Foyer has created a “Skills Development Centre”, offering a wide range of training courses on its premises, but also remotely, for both its employees and its intermediaries. For intermediaries, it relies on two entities: Foyer Academy, dedicated to preparing new agents, and Change Management, which assists them in implementing Foyer’s strategy. The training programmes offered are always in line with the regulations governing the insurance sector.

While the agent network is key to Foyer’s distribution strategy, the Group also maintains partnerships and distribution agreements with brokers and several local banks. This makes it possible to benefit from synergies between banking and insurance products.

Operational excellence at the centre of the client journey

Alongside its distribution network, Foyer can count on the commitment of its staff, some 226 of whom are in charge of all operational and administrative activities relating to policies taken out by retail and corporate clients, as well as for claims settlement.

Teams responsible for insurance policies do their utmost to offer clients and agents a smooth and efficient service in issuing and managing their insurance policies. A Key Accounts team is also dedicated to underwriting and managing the highly specific risks of large companies.

In the event of a claim, client service and compensation are crucial aspects of the relationship between Foyer and its policyholders. Simplicity, efficiency, and support are catchwords for a quality service.

Depending on the circumstances of the claim and the emotional burden associated with it, clients can rely on attentive assistance of their agent and the in-house management teams, or report an event in one click via the MyFoyer mobile app.

As part of its client-centric approach, Foyer regularly collects the opinions of its customers. Consequently, after each claim, a short satisfaction survey is e-mailed, with the aim of turning customer feedback into an opportunity for improvement.

Always searching for efficiency and improving the service quality offered to clients, Foyer is evolving every day towards a world where innovation, digitisation and support create a harmonious mix and always has its sights set on excellence.

A value proposition based on changing client expectations and habits

To meet all clients’ expectations, Foyer offers three ranges of products and services that combine and complement each other. All three are proposed solely through brokers, the exclusive distribution channel of Foyer Assurances in Belgium.

• The 123 range is designed for online sales, exclusively on the websites of partner brokers. These products have been designed to be digital ready and offer a very rapid three-minute subscription process, thanks to packaged cover that corresponds to a precise need. The range is currently available in three areas: insurance for tenants of flats with up to three bedrooms, bicycle insurance and pay-as-you-go car insurance, coupled with a driving monitoring application. This unique concept offers clients tailor-made insurance with a premium that changes each month according to their driving behaviour. This range is set to evolve into a phygital range to combine the digital experience with the broker’s advice, since insurance remains an intangible subject for clients who like to have their choices validated by a professional.

• Enjoy insurance : a range of modular products and services designed for individuals, the self-employed and very small businesses, covering mobility with car insurance, the strength of which lies in its various mileage-based options adapted to clients’ driving habits, giving them the best value for money.
  It also includes solutions for the self-employed and very small businesses, with van insurance on the one hand, and the “pro-comfort” package on the other, a range of cover protecting the equipment transported by professionals.
  “enjoy home insurance” also protects the home and the family. It provides a solution for everyone, with packages and options that extend cover to the garden, swimming pool or private third-party liability.
  Here too, a solution is offered to professionals who have their practice or office at home, with the “pro” package covering professional equipment and goods stored at home, as well as the clients’ or patients’ personal property.

• Avise Foyer Group offers a range of solutions dedicated to more specific needs, perfectly complementing the “enjoy insurance” offer for both private individuals and professionals. For example, it can insure luxury and collectable second vehicles, luxury villas, artworks and valuables, as well as second homes in Europe. For the self-employed and professionals, Avise Foyer Group also offers a range of solutions, including insurance for medical and electronic equipment, professional liability insurance with a cyber option, and specific cover against cyber risks, backed up by a very wide range of services.

These offers are regularly reviewed to adapt to new trends and consumer habits, so as to meet all the needs of individual clients and their families. At the same time, Foyer is continuing to develop its range of products for the self-employed and small businesses.

Expansion of activities in Flanders

Building on its experience and success in Wallonia, Foyer Assurances has rolled out its activities in West Flanders in December 2021 and in East Flanders at the end of 2022, in an incremental way, in order to test the market and be able to adapt quickly to the habits of consumers and brokers in this region. Expansion to Flemish Brabant is scheduled for 2023.

The move towards an increasingly open and connected world is underway, and the trend has accelerated with the development of new practices (remote working, remote consultation, etc.). Many people plan to lead a more independent life and, for this reason, are deciding to move abroad. Whether they are called expatriates, digital nomads, globally mobile people, globetrotters or affluent residents, they all share a common aim: to live new experiences in a new country.

Between consolidation and development of activities, 2022 was a very busy year for Foyer Global Health. The first steps taken in the United Arab Emirates in 2021 have borne fruit, thanks to a strategic partnership set up with MaxHealth in Dubai, offering promising prospects in this market. At the same time, growth remained strong in Germany, its main market. Emphasis was also placed on the Swiss market, with the launch of new products and an extensive communications campaign. In France, Foyer Global Health developed its network of international brokers and paved the way for cooperation with a key player in this market. In direct sales, the strong growth continues, with the number of clients almost doubling by 2022.

A fundamental component of Foyer Global Health’s strategy, its digital platform has been launched and continues to be enhanced by the development of new functionalities. Foyer Global Health is asserting its position as a digital insurer with the deployment of high-performance management interfaces and its new portal. These tools will enable Foyer Global Health to meet its objectives of improving the customer experience, driving growth and automation, and achieving greater operational efficiency.

Finally, the year was also marked by the launch of the new website, in close collaboration with Foyer Group’s UX Design team. The redesign had a number of objectives: to align the public site with the new brand identity, to improve the user experience and responsiveness of the site, and to work on digital accessibility. The site now offers more instinctive navigation for B2B and B2C targets, and reminds users that whatever their customer profile, whether an individual or a company, Foyer Global Health has a solution for them. All the documentation has also been reworked, with modern graphics and revised content.  

By placing collaboration, excellence, and innovation at the heart of its development strategy, WEALINS has established itself as one of the leading insurance companies operating under the Freedom to Provide Services (FPS) regime in Luxembourg. Thanks to its 130 expert employees, who demonstrate an entrepreneurial and innovative spirit daily, the company has been able to make the difference in a particularly competitive environment. With its unique “Wealth Insurance as a Service” approach, WEALINS is able to mobilise its operational, financial, legal, tax and wealth structuring expertise to meet the current and future needs of its partners and their clients.

Attentive to the issues that are shaking up the sector, WEALINS is constantly innovating and rethinking asset-based life insurance. In recent years, the company has focused on innovation, with the launch of digital underwriting and the optimisation of management for all its products, placing the user experience and customised solutions at the heart of its transformation.

WEALINS also promotes a Human-to-Human approach, constantly listening to the wealth management expectations of its partners and their clients, particularly in terms of socially responsible investment. For example, at the end of 2022, the company launched a life insurance policy that invests exclusively in sustainable funds, which is currently available in one market, Belgium.

A new identity for the WEALINS brand: « You lead, We empower »

In a bid to reflect its wealth management support, proximity and collaborative approach, WEALINS has unveiled its new visual identity and new slogan “You lead, We empower” to mark its 30th anniversary in June 2022. Through this repositioning, WEALINS aims to reaffirm its commitment to building a long-term relationship of trust with its partners and their customers. 

Trust is the key ingredient to this longevity, trust in a proven management method and in the professionalism of the company’s staff.

For its clients, CapitalatWork invests exclusively in assets that it has thoroughly analysed, based on a systematic management method for each company studied:

• Business model analysis: What does the company do? What are its competitive advantages? What is its development outlook?
• Financial and accounting analysis: balance sheet, cash flow, solvency, etc.
• Estimate of the company’s value based on a theoretical price compared with the market price to determine whether the company is overvalued or undervalued, in which case the company may enter the CapitalatWork investment universe.

For the client, the proposal is simple but comprehensive: CapitalatWork analyses with the client his or her risk appetite, cash flow needs, investment horizon and return expectations. Then, the client signs a discretionary management mandate with the CapitalatWork, enabling them to invest their assets in line with their investor profile.

A dedicated team with expertise in Belgian, Luxembourg and Dutch taxation also assists the client in his or her estate and succession planning.

In addition to this management philosophy, CapitalatWork relies on proximity to earn the trust of its clients. Consequently, the company has offices in the three countries in which it operates, in Leudelange, Brussels, Louvain-la-Neuve, Antwerp, Ghent, Courtrai and Breda.

Trust is also built on communication, transparency, and simplicity. For 24/7 accessibility, clients can consult their account online on the dedicated MyCapital website and on the mobile application. CapitalatWork also regularly organises conferences for its clients to explain its philosophy and management choices.

Finally, the CapitalatWork’s solutions are built on simplicity: no hidden fees, no complex or structured products. Investments are based on traditional financial instruments such as equities and bonds, either directly or via one of CapitalatWork’s in-house UCITSs. 

The Group’s commitment to corporate responsibility has been at the heart of its governance since 2020, and Foyer works every day to be a good insurer, wealth manager, employer and corporate citizen.

Efforts in favour of sustainability have committed Foyer and its employees to pursuing projects focused on four themes, including for 2022:

Putting sustainability at the heart of the Foyer Group’s strategy

In the same way as innovation, CSR is a powerful lever for competitiveness, cost optimisation and differentiation, but also for employee commitment and therefore for the attractiveness of the company.

This is why Corporate Social Responsibility (CSR) is one of the six pillars on which the Foyer Group’s strategy is based.

This is reflected in the business plan by a series of cross-functional initiatives or actions specific to certain departments (implementation or anticipation of regulatory obligations, completion of a carbon footprint assessment and a dual materiality matrix, improving the digital accessibility of the website, etc.).

In addition, Foyer provides working hours enabling many employees to carry out projects on themes chosen (by the employees themselves) such as cancer prevention, diversity, ecology, humanitarian aid, or solidarity.
Among these initiatives is the partnership with the Luxembourg NGO “Aide à l’Enfance de l’Inde et du Népal”, which aims to rebuild and equip a school in Nepal. 100 Foyer Group employees make a monthly commitment through a donation deducted from their salary via a payroll giving initiative in place since January 2021.

Offering responsible products

In terms of sustainable finance, the European regulation on the transparency of sustainability information (known as “SFDR”) has enabled Foyer to improve its commercial offering by responding to the clients’ sustainability preferences.

The Group’s entities – Foyer Vie, CapitalatWork, WEALINS and Raiffeisen Vie – have expanded their range of products and adapted the underwriting process to include different ESG alternatives.

Moreover, since November 2022, WEALINS has been offering Belgian residents the “We-impact” life insurance product, which also qualifies as “Article 8 SFDR” and offers a wide variety of “Article 8 SFDR” underlying assets.

As further proof of the Group’s commitment in this area, many financial products offered by Foyer Vie, CapitalatWork and WEALINS are labelled in Luxembourg by LuxFLAG.

Promoting a responsible employer brand

Foyer Group spontaneously associates CSR with the Human Resources function. As an employer, one of the levers for achieving this is to translate the Group’s values into concrete actions: Excellence, Innovation, Integrity, Independence, and Trust.

For the Foyer Group, recruitment (more than 160, compared with 60 departures in 2022) and the training of staff (more than 1,000 projects, 33% of which are e-learning) in the professions of today and tomorrow is a priority.

One figure deserves particular attention: 26 men have taken parental leave and 19 women in 2022. This reflects both a change in mentality and the offer at Foyer of a better work-life balance.

Contributing to the climate challenge as a company

In 2022, the Foyer Group carried out a test carbon footprint assessment covering the year 2021, which identified 3 areas for improvement in terms of carbon emissions: building operation, employee mobility and digital services.

In addition, in response to the energy crisis, the Foyer Group has decided to lower the temperature in its building to 21°C (compared with 23°C previously). These efforts have already borne fruit, as in the space of three months, 30,555 cubic metres of gas have been saved, a reduction of 38% compared with the same period in 2021. In terms of carbon emissions, this action alone prevented around 75.5 tonnes of CO2 from being released into the atmosphere.

Every day, Foyer seeks to demonstrate its commitment, as it has always done throughout its 100-year history.

In short, we are committed to living out our raison d’être: “Insuring a better world”.