"We often believe that serious problems happen to someone else or that they are reserved for large systems and large companies. However, risk does not choose either the industry or the size of the company. It can affect anyone. The difference is not whether the risk will happen, but whether the company is prepared to respond to its consequences. It is precisely this readiness that determines whether a certain event will be a temporary challenge or a threat to the survival of the business," said Marković.
He pointed out that companies today must pay much more attention to assessing the potential consequences of risks and their impact on daily operations.
"The biggest danger is not the damage itself, but its impact on the company's liquidity. In business practice, we can see that companies do not cease to exist because they have made less profit in a certain period. Problems arise when they lose the ability to regularly meet their obligations, continue production or provide services. Therefore, it is important to understand that almost any serious risk, regardless of whether it is a fire, flood, cyber incident or liability to third parties, ultimately threatens the liquidity of the business," said Marković.
He placed special focus on the new risks brought about by the digital transformation of business, assessing that they are among the biggest challenges for companies today.
"Risks used to be visible. We could see a fire, an earthquake or a flood and assess the danger based on that. Today we face completely different challenges. Cyber risks are often invisible until damage occurs. One click on a fake link, one incorrectly paid invoice or a compromised information system can stop business, jeopardize customer data and cause serious financial and reputational consequences. This is precisely why companies must develop a culture of digital security as seriously as they take care of physical assets," Marković emphasized.
He believes that the first step towards a more resilient business is a quality identification and understanding of the risks to which the company is exposed.
"We cannot manage a risk that we have not recognized. That is why every organization must regularly analyze its business, identify potential threats and assess their possible consequences. It is equally important to have a clear plan for dealing with crisis situations, defined responsibilities and employees who understand their role when a certain event occurs. Companies that think about risks in advance have a much better chance of successfully overcoming them," said Marković.
Speaking about the role of insurance, Marković emphasized that its purpose is not only to compensate for damage, but also to preserve business stability at times when the company needs support most.
"The essence of insurance is the transfer of risk. When a company transfers part of its risks to an insurer, it provides itself with financial security in situations that can seriously threaten its business. It is precisely when a major disruption occurs, whether it is material damage, a work stoppage or a cyber incident, that insurance becomes an instrument that enables faster recovery and continuation of business. Therefore, insurance should not be viewed as a cost, but as an investment in the company's resilience," said Marković.
Concluding his presentation, Marković said that risk management is today an integral part of responsible business and one of the key prerequisites for the long-term development of companies.
"We cannot avoid risks and that is the reality of modern business. What we can influence is the level of our readiness to recognize, understand and adequately manage them. Companies that continuously work on strengthening their resilience, plan for different scenarios and invest in protecting their business will be in a much better position to respond to the challenges that await them in the future," concluded Marković.
(Uniqa)
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