Use case /
Corona direct integration into Belins Commercial Network
Context & objectives
The Belfius Insurance Group Strategy for 2025 had planned to continue & optimise the direct insurance model with the Corona Direct subsidiary, until clarity on potential integration or digital breakthrough. However, the unprecedented CoViD-19 crisis was a game changer having as consequence that the “Corona” brand will forever be linked to the “Corona” virus.
Client
Belfius is in the top 3 bank insurers in Belgium with more than 700 branches, +7.000 employees and more than 3.5 million customers: retail, professional, corporate and institutional clients.
Approach and key success factors
The strategic analysis conducted by Keyrus aimed at providing guidance to the Belfius Insurance CEO Office on the different scenarios regarding the future of Corona Direct.
- Step 1: analysis of the company’s cost structure, identification of strategic drivers for the cost efficiency improvement under different strategic scenarios and financial modelling of the medium-term impact to the Group’s P&L for each one of them
- Step 2: benchmarking against the industry’s median and top performers for both multi-channel and direct channel operating models, on cost performance, and best practice optimisation initiatives and levers to increase it
- Step 3: evaluation and guidance for the choice of most suitable strategic scenario
Benefits
- Clear high-level insights of the company’s value streams and identification of potential synergies at
- Group level for an increased efficiency of the direct channel operating model
🎯 Assignment metrics
15 weeks
3,5 FTE (Insurance Director, Strategy Consultant and Business Analysts)
💻 Technologies
- Financial Analysis
- Financial modelling