Creating a sustainable long-term business model that will increase security, transform the business model and make digitalization more accessible to the insurance sector, all because of clients who need to be in focus – this is a conclusion of the third Serbian Insurance Days that took place in Arandjelovac.
“We will have to face major challenges in aligning our business with regulations. The complete business model will also change due to the need for digitization, and what we need to do further is to put the customer in focus, because all that we do is because of them, ”said Zoran Blagojevic, a member of the Board of Directors of the Serbian Insurers Association.
The participants of the Serbian Insurance Days also concluded that it was necessary to provide security and raise awareness among citizens that buying an insurance policy is an investment, not a cost. Over the course of two days, a number of interesting topics were raised, and one that has attracted a great deal of attention is the catastrophic disasters that have been happening in Serbia frequnetly due to climate change.
“We will try to negotiate with the state compulsory property insurance or to provide certain benefits on property insurance policies and thus to ensure the safety of our citizens and to relieve the budget on the costs of possible future catastrophic disasters,” says Duško Jovanovic, secretary-general of the Serbian Insurers Association.
The second day of the conference in Arandjelovac was opened by the Minister of Agriculture, Branislav Nedimovic, who underlined that only 12% of the Serbian territory was covered by insurance and that those were really unsatisfactory results that needed work on. The Minister pointed out that the number of insured persons in plant growing had increased, but that it was significantly reduced in the livestock breeding segment. He also said that more education was needed. Serbia has a very low percentage of insured households, from three to five percent when it comes to jointly registered and unregistered households, and the goal of insurers is to increase it to more than 30 percent in the coming period.