Optimco

What Optimco does

Optimco nv is a Belgian non-life insurance company founded in 2005 and headquartered in Wilrijk-Antwerp. It operates exclusively as a delegated underwriting agent (gevolmachtigde onderschrijver) under FSMA code 0862.475.005, accepting risk in the name and for the account of Fédérale Verzekering (Federale Assurance), which directly holds more than 99% of its capital. The company serves Flemish private individuals and households through a broad network of independent Belgian insurance brokers (courtiers); it does not sell directly to consumers.

Its product portfolio spans three lines: Mobiliteit (auto/mobility), Woning (home), and Familie (family/personal liability). The auto suite centres on mandatory BA Auto third-party liability and add-on modules (Volledige Omnium, Beperkte Omnium, Omnium Tweedehandswagen, Autobestuurder, Rechtsbijstand Auto, Gezinsrechtsbijstand, Bijstand na Ongeval, Reisbijstand, Glasbreuk), reinforced by loyalty features such as Levenslang Bonus-malus 0 and BOB-waarborg. Home and family insurance are sold under the OPTIPLUS brand, with a Combi-polis bundling option. A dedicated legal-assistance service called OPTILEX handles legal protection claims.

Optimco generates revenue via annual recurring insurance premiums billed through brokers, pricing for good drivers and conscientious policyholders with favourable features (lifetime bonus-malus 0, 0% deductible omnium, value-stability options, free post-accident assistance). Its distribution is digitised through the internal Optim-Online broker platform and a WeGroup integration that routes broker-originated customer data directly into Optim-Online. The company is governed by a board chaired by Fédérale Assurance's CEO Tom De Troch, and as of 1 July 2025 is led by CEO Patrick Michel, who joined from Fédérale Assurance's Director Non-Life role.

Name

Optimco

Legal name

Optimco nv

Website

https://optimco.be

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

51–100 employees

Short description

Optimco is a Belgian non-life insurance underwriter (FSMA 0862.475.005) selling auto, home, and family policies exclusively to Flemish households through independent brokers, on behalf of parent Fédérale Assurance.

Ownership category

akta.pro rank

Headquarters

HQ city

Antwerp

HQ country

Belgium

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Non-life Insurance Premiums: Optimco generates revenue through insurance premiums for non-life insurance products including auto/mobility (BA motor, omnium, driver protection, legal protection), home/habitation (fire, water damage, natural catastrophes), and family/liability insurance. Policies are sold exclusively through independent brokers with premiums billed annually.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Optimco is a Belgian non-life insurance company operating as an authorized underwriting agent (gevolmachtigde onderschrijver) on behalf of Fédérale Verzekering. It underwrites and distributes auto (BA liability, omnium, driver protection, legal protection), home (OPTIPLUS), and family/personal liability (OPTIPLUS) insurance products exclusively through independent insurance brokers in Belgium, supported by its Optim-Online digital broker platform.

Product overview

Optimco is a Belgian insurance company (nv) that operates as an authorized underwriting agent (gevolmachtigde onderschrijver) under FSMA code 0862.475.005, acting on behalf of Fédérale Verzekering. The product portfolio spans three main lines: Mobiliteit (mobility/auto), Woning (home), and Familie (family/personal liability). The auto insurance suite includes the core BA Auto mandatory liability product, add-on modules (Volledige Omnium, Beperkte Omnium, Omnium Tweedehandswagen, Autobestuurder, Rechtsbijstand Auto, Gezinsrechtsbijstand, Bijstand na Ongeval, Reisbijstand, Glasbreuk), and sub-branded features (Levenslang Bonus-malus 0, BOB-waarborg). Home insurance centers on the OPTIPLUS product (Woningverzekering), while family insurance is the OPTIPLUS Familieverzekering, with a Combi-polis option bundling both. All insurance products are distributed exclusively through independent insurance brokers. Optimco's digital operations are supported by the internal Optim-Online broker platform.

Differentiator

Problem solved

Functional benefit

Brands

• OPTIPLUS: Brand name for Optimco's home insurance (Woningverzekering) and family insurance (Familieverzekering) products.
• OPTILEX

Products and services

• BA Auto (Burgerlijke Aansprakelijkheid Auto / Mandatory Motor Liability) Mandatory third-party liability auto insurance covering damages caused to others by the insured vehicle, distributed through independent Belgian brokers with preferential rates for good and senior drivers, lifetime bonus-malus 0, accelerated bonus-malus progression, and free post-accident assistance.
• Omnium (Volledige and Beperkte Vehicle Damage Insurance) Vehicle damage insurance offered in Volledige (Full) and Beperkte (Limited) variants for new vehicles, covering material damage (full) or fire, theft, glass breakage, natural disasters, and animal collisions (limited), with a 0% deductible option and 24- or 36-month value stability guarantee on full omnium.
• Omnium Tweedehandswagen (Used Car Omnium) Tailored vehicle damage insurance for second-hand vehicles, available in both full and limited omnium versions, with optional value stability coverage and designed to address the specific needs of used-car owners in Belgium.
• Autobestuurder (Driver Protection Insurance) Individual driver insurance covering bodily injury to the policyholder when driving the insured vehicle, a replacement vehicle, or a third party's vehicle, including rental cars abroad, designed for Belgian motorists seeking personal accident coverage.
• Rechtsbijstand Auto (Auto Legal Protection Insurance) Legal protection insurance for motor-related disputes, offered in two tiers (Classique basic and Optimale comprehensive covering criminal defense, damage recovery, insolvency, and cyclist/pedestrian protection), with claim handling by the independent OPTILEX legal assistance service.
• Gezinsrechtsbijstand (Family Legal Protection Insurance) Family legal protection insurance under the Optimale tier, covering all household members as drivers or passengers of cars, vans, motorhomes, motorcycles, scooters, trailers, and caravans, with claims handled by the OPTILEX independent legal assistance service.
• Reisbijstand (Travel Assistance Insurance) Travel assistance insurance covering 24/7 breakdown assistance in Belgium, comprehensive medical and repatriation assistance abroad, and vehicle recovery, with an optional replacement vehicle, available to private motorists through Optimco brokers.
• Woningverzekering OPTIPLUS (Home Insurance) Comprehensive home insurance under the OPTIPLUS brand covering building and contents against fire, water damage, oil leaks, natural disasters, storm, hail, snow, electrical risks, glass breakage, theft, vandalism, plus Home Assistance services and an optimization clause covering unlisted risks up to €12,500; tariffs reduced by approximately 20% on average in March 2023; currently offered in Flanders.
• Familieverzekering OPTIPLUS (Family / Personal Liability Insurance) Third-party personal liability insurance under the OPTIPLUS brand covering accidental damages caused by policyholders or family members as pedestrians, cyclists, e-bike/scooter users, drone operators, or when driving others' vehicles, with optional legal protection; eligible new policyholders receive a 50% first-year premium discount for marriage, legal cohabitation, or birth of first child; currently offered in Flanders.
• Combi-polis OPTIPLUS (Combined Home + Family Policy) Bundled OPTIPLUS insurance contract combining family insurance and home insurance under a single policy, offering a discount on the family insurance annual premium and simplifying multi-line coverage for Flemish households.

Quantifiable outcome

• Home insurance (OPTIPLUS) tariff reduced by approximately 20% on average compared to previous tariff (2023)
• +1 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Fédérale AssurancecoreStrategic or Co-development PartnerFédérale Assurance is the parent company holding directly more than 99% of Optimco's capital. Optimco operates as a delegated underwriter (gevolmachtigde onderschrijver) authorized to accept risk coverage in the name and for the account of Fédérale Assurance (licensed under nr. 0124 by the National Bank of Belgium) for motor liability, vehicle casco, auto driver, fire and natural disasters, general liability, and legal protection insurance lines.

Scale indicators2 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• AXA Belgium: AXA Belgium is the Belgian arm of global insurer AXA, offering a broad P&C (and life/health) portfolio to individuals via tied agents, brokers, and direct. Comparable product set but much larger scope and multi-channel distribution; serves as a benchmark incumbent.
• Allianz Belgium: Allianz Belgium is the Belgian subsidiary of global insurer Allianz, distributing motor, home, and family/liability products through tied agents and brokers. Competes in the same Belgian private P&C market as Optimco with broader portfolio depth.
• Baloise Belgium (Bâloise / Baloise Insurance): Baloise Belgium is the Belgian operation of the Swiss Baloise Group, providing non-life insurance to Belgian households. Comparable product scope and broker distribution footprint, though part of a wider European portfolio.

Direct peers

• Ethias: Ethias is a major Belgian mutual insurer offering non-life (motor, fire, family liability) products to individuals via direct, broker and public-sector channels. Overlaps Optimco on every private P&C line and competes for the same Flemish household customer.
• KBC Insurance: KBC Insurance is the in-house insurer of KBC Group, offering private P&C (motor, home, family liability) primarily through the KBC bank's tied channels. Competes directly for the same Belgian private household customer but with a bank-led rather than broker-led distribution model.
• Belfius Insurance: Belfius Insurance underwrites Belgian private P&C products distributed through the Belfius bank network and via DVV intermediaries. Material overlap with Optimco on auto, home, and family liability in the Belgian private market.
• AG Insurance: AG Insurance is one of the largest Belgian insurers and underwrites private auto, home, and family liability through both tied agents and brokers. Directly comparable on product scope and Belgian private-market focus, though materially larger.
• Federale Verzekering (Fédérale Assurance): Fédérale Assurance is the parent of Optimco (>99% ownership) and also directly underwrites P&C lines in Belgium through the same broker channel. It is the closest operating peer: same Belgian market, same courtier distribution, and overlapping product lines (motor, fire, liability, legal protection).
• Vivium: Vivium is a Belgian insurer that historically operated primarily via independent brokers (courtiers), offering private-market P&C and life products in the same Belgian broker channel as Optimco. Highly comparable in go-to-market, product mix, and target customer (Flemish private household).
• DVV (De Volksverzekering) / Belfius Insurance: DVV is the broker/intermediary-focused brand of Belfius Insurance in Belgium, distributing motor, home and family insurance through independent intermediaries. Comparable channel strategy and product set to Optimco, with the backing of a large bancassurer (Belfius).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Optimco