Times are changing – trust in insurance remains

The company “Dunav osiguranje” presented the business results at the Serbian Insurance Days.

Under the slogan “Tempora mutantur”, the Serbian Insurance Days were opened for the fifth time in a row, organized by the Association of Insurers of Serbia. With the presence of a large number of panelists, state representatives and insurers from the country, representatives of the profession discussed new risks, as well as the ability of the insurance industry to adapt to the market, through the prism of changing times.

Despite the new risks brought by the coronavirus pandemic, the company “Dunav Osiguranje” tried to adapt its services to the changed circumstances. With the introduction of new and improvement of existing services, as well as the availability of online sales, business processes are organized to justify the trust of a large number of policyholders, which is a key to security in times of crisis.

As pointed out by Ivana Soković, President of the Executive Board of the Company and President of the Management Board of the Association of Insurers of Serbia, the business results of “Dunav osiguranje” in the first nine months exceeded the achievements of the previous year. With a share of 27.1 percent in the first half of the year, “Dunav” maintained its leading position in the domestic insurance market.

The gross insurance premium of the company “Dunav” in the first nine months amounts to 23.3 billion dinars and is 7% higher than in the same period last year. In the conditions of market growth of life insurance of close to 7 percent, the life insurance premium of the Company records a growth of as much as 20 percent. The non-life insurance segment also continued its upward trend of 5.6 percent, with a significant increase in the premium of voluntary health insurance, auto-casco insurance, as well as property insurance against fire.

The company “Dunav osiguranje” has shown enviable efficiency in resolving claims and liquidation of claims, which increased by almost 13 percent compared to the previous year, while only in the life insurance segment there was an increase of over 40 percent. Since the beginning of the pandemic, over 1,200 compensation claims have been reported to the Company on the basis of death due to covidity, for which almost 260 million dinars have been paid. As Ivana Soković emphasized, such results are a consequence of the business policy of unchanged conditions of life insurance coverage and for cases related to coronavirus. In that way, the company “Danube” justified the trust of its insured and showed that it is an important support, especially in times of crisis.

Financial indicators have unequivocally shown a willingness to respond to new risks and adjust to market dynamics. Therefore, it is not surprising that according to the gross invoiced premium realized in 2020, “Dunav osiguranje” is the best ranked Serbian insurance company on the list of TOP 100 insurers in Southeast Europe, where it took the high ninth place.

In addition to the financial stability that the insurance sector has unequivocally shown in the period that put this industry to the test, the care of the community is the foundation of further progress of the economy and the population. The company “Dunav Osiguranje” has confirmed through social activity projects that it remains a support for the state of Serbia in the implementation of various projects of local or national importance.