WEALINS is a brand that is governed by values such as trust, excellence, and independence. Over time, it has become a key player in the life insurance sector. So, what ongoing work is done by WEALINS?
WEALINS, which is celebrating its 30th anniversary this year, has become one of the key players within the life insurance sector operating under the Freedom to Provide Services regime from Luxembourg. To achieve this, we can capitalise on our specialised expertise and our collaborative approach, both internally and externally, with the primary objective of satisfying our partners and their clients. We build long-term relationships with our partners and their clients and support them in the best possible way. With our panEuropean expertise, we have a deep understanding of the specificities of each country particularly in terms of tax and regulations, allowing us to understand the subtleties of each of our markets and thus respond quickly and perfectly to the questions and expectations of our partners and their clients. Finally, our commitment to excellence remains one of the strengths of the WEALINS team and truly sets us apart from other companies in the sector.
Do you believe that values such as these allow you to respond to the most complex challenges and that elevate the company to leadership in the sector in which it operates? In what way?
Yes, I do. WEALINS develops life insurance and capitalisation solutions for wealth management and protection, so these values are a key factor in responding to the everincreasing demands of our partners and their clients. We work with an increasingly international and informed clientele, which implies that our partners keep their trust in WEALINS because of these values – Trust: we do what we say, and we say what we do, Excellence: we constantly strive to respond to our clients’ needs and Independence: we take responsibility.
We know that the solutions offe – red by WEALINS satisfy the needs and expectations of even the most demanding clients. How do you manage to achieve this?
Over the last 30 years, WEALINS has accumulated strong expertise in twealth insurance, both by relying on its in-house teams of experts and by collaborating with reference part – ners. Our teams are driven by a single objective: to provide a quality servi – ce to our partners and their clients. WEALINS has established itself as a resilient, solid, reliable, and flexible insurance company and the focus of the entire team on service excellence are one of the are one of the main reasons explai – ning our success.
What are the main solutions that WEALINS offers in terms of life insurance in Luxembourg?
WEALINS is a company specialised in developing tailor-made life insurance and capitalisation solutions in 9 European markets: Portugal, Spain, Norway, Finland, Sweden, Italy, France, Belgium, and Luxembourg. Our main solutions are products compliant with the fiscal and legal framework of these countries as well as other solutions for European citizens residing outside the European Economic Area.
Talking about life insurance and understanding it is not always an easy task, since there is a lack of information available to demystify it. Within WEALINS, has grasping new technologies to simplify and innovate been important? To what extent?
Indeed, our product offering is primarily aimed at a demanding and wealthy clientele and the investment in our products remains rather complex. Furthermore, it is important for us to maintain a personalised approach to adapt to the specific requirements and needs of each client. Digitalisation is playing an increasingly important role and the challenge is to simplify the underwriting process to save time and efficiency, while guaranteeing compliant and secure operations. The (U)HNWI clientele, who certainly have needs and expectations in terms of estate planning and wealth management (and whose advantages offered by Luxembourg life insurance may be of interest to them), is also looking for a digital offer allowing more flexibility. In this context, WEALINS has launched the digital subscription of its insurance contracts in all its markets. In order to carry out its digitalisation projects, the company favours a collaborative approach and works in co-construction with its partners, which enables to better understand and analyse the needs of its clients in order to develop a digital service offer that fully meets their requirements. The user experience is at the heart of the development of our digital offer. However, the digital solution must be integrated into the existing approach to maintain our high quality of service.
As Luxembourg is a country with a social and economic stability, clear legislation, and flexibility, why is it an advantage to take out a Luxembourg life insurance contract?
The Luxembourg life insurance contract offers multiple advantages, the main one of the most robust security models in Europe. (the triangle of security associated with the fact that in the event of the insurer’s bankruptcy, the policyholder has senior debt ranking on the regulated assets, known as “super-privilege”), but also flexibility (through, for example, access to a wide range of underlying assets), tax neutrality, such as tax benefits, as well as portability (which means that we can accompany the policyholder when they change their tax residence).
Within WEALINS, what was the impact of the Covid-19 pandemic in your business?
In the business itself, it was a positive impact, I must admit. In fact, in the two years of the pandemic, our production increased exponentially. I believe that the fact that we were able to maintain our excellent quality of service that our partners and their clients are used to and continue to develop unique solutions in a market with increasingly sophisticated and international partners and clients, led us to be the top choice as the wealth management insurance company operating from Luxembourg. At a time as challenging as the pandemic, when we were forced to adapt to a completely new reality quickly, without ever losing focus on service excellence, we developed with our partners a relationship of trust that allows us to understand and respond perfectly to their concerns.
With the challenging year 2021 over, what were the main goals achieved and how does WEALINS see 2022? What is the real commitment for this year?
In 2021, we were able to confirm our ambitions and maintain our growth. If 2020 had already been an exceptional year in terms of new production, since we had managed to close the year with €1.7 billion in premiums collected, 2021 raised that bar. Our main objectives achieved were, of course, our production, but more than that, not least because production is a consequence of having managed to maintain our excellent level of service, being there for our partners and their clients, as well as being able to develop and launch new digital services.
As an expert in designing wealth insurance solutions, what advice would you like to give to all readers who do not yet have life insurance?
In an increasingly global and international world, in which mobility is a constant in our personal and professional lives, in which the concern to safeguard not only your wealth but also the future of your family, a life insurance contract is an instrument perfectly suited to the needs of estate and succession planning. For WEALINS, it is an instrument that allows policyholders to pass on their assets safely and in accordance with their wishes, an increasingly pressing concern in life. Therefore, for those who do not know or do not yet have this type of solution, I advise you to seek tax and legal advice to learn more about the advantages of this type of solution.