Đurović points out that insurance, although often perceived as a cost or administrative obstacle, actually represents an important mechanism of protection and stability for small and medium-sized enterprises:
- Unfortunately, among small and medium-sized businesses, insurance is still often seen as a cost, and less often as a benefit or form of security. However, its role in preserving business can be multiple – from protecting assets and supplies, through liability, to taking care of employees.
Đurović cites an example from the region, where in one case damages were paid in an amount exceeding 80 million euros, which shows the severity of the consequences of uninsured risks:
- Small and medium-sized businesses are exposed to various risks – from natural disasters, fires and earthquakes, to theft and damage to inventory. The occurrence of such risks can seriously jeopardize the business, and even lead to complete destruction. By purchasing risk coverage and insurance, small and medium-sized businesses can be protected from such unwanted events.
Insurance does not only provide property protection – it also includes protection against third-party liability, employee insurance (e.g. voluntary health insurance), and strengthening the credibility of the company before banks and partners.
- Banks are more likely to approve loans to companies that are adequately insured, and clients and partners show more trust in those that have a certain level of protection. Also, employers that offer certain types of insurance to employees – most often voluntary health insurance – become more attractive on the labor market, which is especially important in conditions of competition for a quality workforce, Đurović explains.
The insurance market in the SME segment is still in its development phase. Although there has been an increase in interest in employee insurance, especially in the last two years, mandatory insurance – that which is prescribed by law – remains dominant.
- Small and medium-sized enterprises mostly opt for insurance that is a legal obligation. Voluntary insurance is less frequently contracted, especially for companies that are just at the beginning of their development. However, as companies grow and stabilize, there is room for additional protection, says Đurović.
Đurović emphasizes that the choice of insurance depends on the activity and specifics of each company. There is no universal solution – it is necessary individual risk assessment and adapting the offer to specific business needs. On this occasion, he points out that the challenges do not lie exclusively on the side of small and medium-sized enterprises, but also within the insurance industry itself:
- I must also criticize our industry – many of the products we offer are still traditional, complex and full of risks and deviations, which are often incomprehensible and even unnecessary for small and medium-sized enterprises. It is our responsibility to develop simple, clear and relevant products and make them truly accessible to this important segment of the economy. This is the path we need to take in the future.
This message reminds us of the importance two-way access – insurance must be tailored to the real needs of the SME sector, while simultaneously raising their awareness of the value of the protection that insurance provides.
UNIQA insurance had the honor of being sponsor and partner of the Addiko SMEvolution conference, dedicated to small and medium-sized enterprises. This conference brought together key stakeholders in the SME sector, representatives of financial institutions and experts from various fields, with the aim of exchanging knowledge, experiences and innovative approaches to doing business in a modern environment. UNIQA insurance Through its presence and participation in the discussions, it highlighted the importance of insurance as a tool for the stability and long-term development of small and medium-sized enterprises.
(Uniqa)
