Despite global challenges, Triglav continues to grow thanks to its reliance on modern technologies, a personalised approach to clients, and fostering partnerships built on full trust
Triglav osiguranje a.d.o. Belgrade, as part of the Triglav Group, contributes 7% to the Group’s leadership in the Adria region, steadily increasing its market share by insurance premiums in Serbia, reaching 7.6% market share in 2024, highlights Dragan Marković, Chairman of the company’s Executive Board.
Last year, Triglav exceeded its targets and strengthened its leading position both in Slovenia and across the Adria region. Is this the result of rapid adaptation to market conditions and changes in the business environment?
— The Triglav Group retained its market leadership in the Adria insurance market in 2024, holding just over one fifth of the total insurance market in the region, with total business volumes of €1.72 billion, a pre-tax profit of €159 million (ROE 14%) and a combined non-life insurance ratio of 93.6 per cent. Triglav osiguranje a.d.o. Belgrade, as a member of the Triglav Group, contributes 7%, steadily increasing its market share (by insurance premiums) in Serbia, reaching 7.6% market share in 2024, while maintaining a stable fifth position among insurers.
A flexible business model, business diversification, personalised services and client trust, employee care, and continuous improvement of business processes enable us to operate steadily, sustainably and securely even amid growing uncertainty.
How would you assess the current conditions in the financial market?
— Following a series of global crises, starting with the Covid pandemic and the global energy crisis, supply chain restrictions, limitations on movement and inflationary pressures, the region has additionally been affected by catastrophic natural disasters and increased frequency of motor vehicle insurance claims. Despite all this, we have demonstrated business stability and security, expecting to be better prepared and more determined for further progress in 2025. In our market, voluntary health insurance and insurance of movable and immovable property have recorded the fastest growth in recent years.
In our market, voluntary health insurance and insurance of movable and immovable property have recorded the fastest growth in recent years
The challenges are immense – from geopolitical influences and their impact on economic growth, through catastrophic natural disasters and their effects on property and health, to changes in client demands, service personalisation, digitalisation and optimisation of business processes.
Your company still insists on an individual approach, fostering trust, preserving long-standing partnerships and creating tailored products…?
— Digitalisation is one of the key drivers transforming the insurance market, aiming to personalise service offerings to clients and build an ecosystem by using predictive analytics, various IoT technologies, recognising the needs of different client segments, streamlining the compensation process for potential insured losses, and creating satisfaction and long-term trust relationships with clients.
Environmental care and social responsibility, greater service availability (development of B2B and B2C portals) and informed clients, automation of repetitive tasks and cost optimisation enable higher-quality individual communication with clients about their needs to minimise surrounding uncertainties and ways to mitigate risks and potential negative consequences should they materialise.