Association of Serbian InsurersUdruženje osiguravača Srbije
Why trust insurance?
Life is made up of both pleasant and challenging moments. It would be unreasonable to live in constant fear of “something bad that might happen.” However, it is neither unreasonable nor unnecessary to manage the many risks to which we are all exposed. This is precisely where insurance comes into play. Insurance is not merely a technical mechanism for protection against potential risks or misfortunes that life may bring.
The perception of insurance in our society is often misunderstood. Insurance should be promoted not only as a product that provides support in difficult and uncertain times—such as in cases of damage, death, or illness—but also as a product that accompanies life’s positive milestones: the birth of a child, starting university, getting married, or purchasing a new home. In other words, insurance is not just the friend you call when you are in trouble, but also the one you can celebrate with—a companion through both good and bad times.
How to accelerate the development of insurance? The first step is to dispel a few common misconceptions.
When you purchase insurance, you are not spending money—you are investing it. In fact, in some cases, you are even saving through insurance products. If you wonder what you are investing in, the answer is simple: you are investing in your own security—personal, property, and health. Ultimately, you are responsible for your future expenses, and an insurance policy provides the foundation for a safe and stable future. The real question is not whether to invest in insurance, but which policy to choose.
Why trust insurance? The insurance industry returns around 60% of collected premiums in the form of paid claims. Given that total insurance premiums have exceeded €1 billion since 2022, it is easy to see how much has been returned to citizens who suffered losses.
Furthermore, insurance is a highly regulated industry, which is another reason to trust it. This means that every aspect of insurance operations—both the functioning of insurance companies and the insurance contract itself—is strictly governed by law, with a strong focus on consumer protection. The National Bank of Serbia (NBS) exercises continuous supervision over insurers, ensuring that technical reserves—tripled over the past decade, according to NBS reports—remain secure. In other words, your money cannot simply disappear overnight. The industry’s strong financial capacity, accumulated experience, and professional expertise are its greatest assets. The insurance sector has demonstrated both resilience and stability, even in times of crisis. For that reason, references to negative experiences with the banking system from decades ago are no longer relevant.
The Serbian insurance market has proven resilient to systemic risks. This was evident during the pandemic crisis and in the years that followed, as the sector continued to grow without jeopardizing overall economic stability. With insurance, there is no pretense—the protection you receive is genuine and tangible. That is why now is always the right time for insurance. Today, insurance is more important than ever, because in times of crisis, it is essential to protect what we have.