Health practice

In an environment marked by regulatory constraints, medical inflation and growing pressure on affordability, mastering the technical and strategic dimensions of health and disability insurance has become essential for insurers operating in Belgium.

The Belgian system is built on a two-tier structure: compulsory social security (INAMI/RIZIV) complemented by private Medical Care and Disability coverage, whether individual or via an employer. The market is shaped by specific regulatory features, notably the Verwilghen Law, which restricts medical underwriting and contract termination, leading to long-term contractual commitments. Combined with evolving healthcare consumption and indexation mechanisms, these constraints create significant challenges in pricing sustainability, profitability, reserving and capital management.

Reacfin’s dedicated Health Practice combines deep actuarial expertise with a strong understanding of the Belgian regulatory framework. We support insurers across their value chain: product design and sustainable pricing, actuarial models’ development and validation supporting BGAAP, Solvency II and IFRS17 computations, profitability and risk monitoring, reinforcement of actuarial teams, and targeted trainings through Reacfin Academy.

With Reacfin as your partner, you will benefit from solid actuarial expertise and a clear understanding of the Belgian health insurance framework to manage complexity in a structured way.

We support insurers from contributing to product design to reviewing existing pricing structures in order to strengthen profitability and long-term sustainability. We also assist in the pricing of new products and additional coverages, ensuring technical robustness, regulatory consistency and alignment with the company’s strategic objectives.

We support insurers in strengthening their reserving frameworks through the development, validation and calibration of actuarial models underpinning BGAAP, Solvency II and IFRS 17 calculations. We ensure methodological soundness, consistency across reporting bases and robustness of assumptions, providing figures to support financial reporting and risk management.

We provide actuarial services tailored to insurers’ operational needs, including temporary reinforcement of actuarial teams and direct support to key actuarial and financial functions. We bring experienced profiles who integrate quickly, ensure continuity of critical activities and contribute effectively to both day-to-day operations and specific projects.

We support insurers in the set-up and effective operation of robust actuarial functions. We design and implement structured frameworks covering governance, methodologies, tools and controls, fully aligned with regulatory requirements.

We help insurers to (re)build their actuarial tools, by considering the most relevant technologies for the specific problem, but also by considering state-of-the-art software technologies, development skills and practices.

Through Reacfin Academy, we support our clients in developing actuarial and insurance expertise across all levels of the organization, from technical training to executive sessions.