Trust, simplicity, and innovation as the pillars of modern insurance
CORPORATE INTERVIEW
Mario Batarilo
Chairman of the Executive Board of Milenijum Osiguranje
Mario Batarilo, Chairman of the Executive Board of Milenijum Osiguranje, shares how trust, innovation, and simplicity shape the company’s approach to modern insurance.
We don’t wait for crises — we think ahead and stay prepared
Milenijum Osiguranje began its journey in 1992 as Stankom Osiguranje, with a clear focus on listening to customer needs and expanding its portfolio. Looking back, how has that founding ethos shaped your approach to innovation and client engagement today?
From the very beginning, Milenijum Osiguranje has been built around the idea that insurance must be simple, understandable, and in the service of everyday life. We have not abandoned those basic ideas today, more than three decades later. Listening to clients and their wishes is perhaps the most important thing in insurance. Monitoring habits, reacting in time with offers, and anticipating customer needs. That is why innovation in insurance is not something instantaneous, but a constant task of insurers. One of the most important things in insurance, something we work on every day, is to create trust with our clients. Insurance is basically trust. It is not just about numbers, risks, but primarily about supporting clients when they need that most and trusting us to provide them with that support.
That is why we at Milenijum Osiguranje listen to the needs of our clients every day. Through analyses, conversations, praises, but also complaints, so that we can keep up with their needs and the time in which we live.
In a competitive insurance landscape, what differentiates MIOS in terms of product innovation, customer experience, or civic engagement?
The insurance market is one of the most competitive, not only in Serbia, but also globally. What sets us apart, in addition to the aforementioned daily listening to the needs of clients, is relevant products, top user experience, and commitment to the community. We focus on what really matters to people – health, safety, property, and mobility. Growth in the segments of voluntary health insurance, comprehensive insurance, and property insurance shows that we know how to recognize trends and respond to them in a timely manner. This is something that we at Milenijum Osiguranje are extremely proud of.
We are constantly working to ensure that every contact with the customer is fast, clear, and includes a human touch. We speed up work processes, digitize what can be digitalized, but with an emphasis on the fact that the client must not be left without support when needing it most. In addition, it is necessary to have a socially responsible role, to be in close contact with the community, because we are also part of that community. By supporting sports, education or health, we want to leave a mark that goes beyond numbers and balances.
Our goal is simple, to be an insurance that does not stop when it achieves a good result, but that asks a question – what else can we do better for our clients, partners and employees.
From floods to cyber risks, how has MIOS adapted its offerings to meet the evolving needs of Serbian citizens in times of crisis?
If there were no crises and unforeseen circumstances, there would be no need for insurance. That is why we at Milenijum Osiguranje are constantly a little ahead of the events, in order to timely recognize dangers, to react and provide the best service for our clients. This is imperative in our business. Crises remind us how important insurance is and how fast and relevant it must be. Whether natural disasters, or cyber risks, or something else is concerned. Our response to these dangers is always the same – quick adaptation and concrete solutions.
Over the last two years, we have significantly improved our offer in the segment of property insurance and introduced coverage that corresponds to new types of damage, including those caused by climate change. Also, we plan to develop a cyber protection package for legal and natural persons, because we know that personal data and digital security are a matter of basic security today. We have given ourselves the task not to wait for the crisis to come, but to think ahead and be prepared. This is how we gain the trust of our customers.
Natural disasters and cyberattacks are the two biggest types of risks we see in the future. It is important to understand that digital security has become almost as important as physical security. That is why insurance companies are introducing new products, from data theft, through ransomware attacks, to business interruption due to cyberattacks. In addition, we are all aware that natural disasters are becoming increasingly common in today’s world, and we, as insurance companies, must respond to this by creating policies related to these risks. Certainly, in both cases, it is important to emphasize that insurance is not only about the payment of damage, but primarily about active prevention, i.e. counseling and partnership with customers, so that, in the above cases, primarily in case of cyber-attacks and the resulting problems, we could prevent their occurence, timely and with adequate measures. For these reasons, it is important to talk to clients, consult and create partnerships, in order to work together to avoid the aforementioned risks and challenges.
Digital doesn’t mean distant — people must always come first
MIOS emphasizes simplicity and online access. How are you tailoring services to younger demographics, especially first-time policyholders?
As we all know, digitalization has brought enormous changes in all aspects of business and everyday life, and this is of course also visible in the insurance business. Digitalization affects the automation of business, processing of applications, issuing policies, risk assessment, all of which together reduce human error, but also significantly simplify business. The process is optimized, resulting in a better user experience. Through the Web-shop that we have created at Milenijum Osiguranje, it is much easier and faster for our users to get insurance policies, such as travel health insurance, roadside assistance and home assistance, etc. All this simplifies the user experience and shortens the time needed to secure the necessary policy, without unnecessary trips to branches.
This is especially important for young people, who have grown up in the digital age. Young people today are looking for speed, accessibility and clarity, and they are absolutely right about that. Today, they have completely different habits than previous generations – they go to branches less and less; they do not wait in lines and want everything immediately, simply and online. And we fully understand them in this, because they make us think faster and better. We try to simplify what can be simplified.
At Milenijum Osiguranje, we do not see this generation only as potential customers, but as those who are already shaping the insurance market. Our strategy towards younger users includes fully digital products, from contracting to reporting damage, communication without professional jargon, and our focus is on what is most important to them – travel, health and technology. That is why we have recently been developing products and experiences tailored to them, insurance products that are quickly arranged through digital platforms, paperless and that cover what is most important to them.
In order to attract younger customers, we need to be present where they are. And that is to be online, on mobile platforms, with a tone of communication that is human, not bureaucratic, with an understanding of their lifestyle. Because if we do not speak their language today, tomorrow they will not listen to us anymore. And we want them to hear us.
What’s next for MIOS? Are there upcoming products, technologies, or strategic shifts you are excited to unveil?
If we look ahead, our focus is threefold – smart growth, digital transformation and even greater closeness to customers, but also to partner companies. Our key strategic goals are growth in the voluntary insurance segments, such as voluntary health insurance, property insurance, casualty insurance and comprehensive insurance, as well as digital transformation and customer experience through the modernization of digital channels, such as mobile application and web platform. Also, our focus will be on strengthening the sales network and partner channels with specialized partners, then improving operational efficiency through the aforementioned digitalization and process optimization, through the application of analytics for smarter risk management. What continues to be extremely important in insurance is the development of employees and our teams, through investment in education, leadership development and talent retention. We are building a culture where results matter, but people are at the center of everything we do.
Milenijum Osiguranje is certainly recognized as a quality and reliable partner. That is why, in addition to investing in services that enable a high standard of customer service, we will also focus our energy on expanding our internal sales network, in order to increase the availability of our services on the Serbian market. We work with partners on a daily basis to develop new mass products in the retail segment, which offer affordable prices, digital accessibility and clear benefits.
From the moment I was appointed Chairman of the Executive Board of Milenijum Osiguranje, I am aware that my primary task and greatest challenge was to preserve the stability of the company and ensure business continuity. In challenging times, this is the key to keeping the company reliable and stable, both for customers and employees.
When I imagine Milenijum Osiguranje in five years, I honestly see a company that is still close to people, modern and safe. As a modern, efficient and close to customers insurance company, which has retained the most important thing, which is the trust of clients and commitment to its people. That is why I see us as a team that has preserved everything that makes us special in the insurance market, and that is the aforementioned trust of clients and mutual respect within the company, which at the same time will not be afraid to change, adapt to the market and grow. To achieve this, we do not want to be just “another insurance”, but a partner to people in everyday things, in order to restore their sense of security. That is why I want every one of our customers to be able to say “I know where I stand here. I know they will help me when I really need it.” It’s a goal worth fighting for.