Both Safety and Profitability

Delta Generali Osiguranje is the largest privately-owned insurance company in the Serbian market. The company is the market leader in Life, Health and Travel insurance. It is one of the foremost Serbian insurance companies in terms of property, motor vehicle and accident insurance.

Since 2006 Delta Generali Osiguranje is member of Generali Group one of the most significant participants in the global insurance and financial products market. The Group’s Parent Company is Assicurazioni Generali, founded in 1831 in Trieste.

With 20% market share in 2012, Delta Generali Osguranje is also the second largest insurance company in the market. Founded in 1998 and registered for all types of Non-Life and Life Insurance, with a range of 160 different products, Delta Generali Osiguranje covers all insurance business.

Efficiency in payment contributes to Delta Generali Osiguranje’s recognizable market appearance. The company operates in accordance with the requirements of standards ISO 9001:2008 and ISO 27001:2005.

Delta Generali Osiguranje is a founder of the first voluntary pension fund in Serbia – Delta Generali, Delta Generali Reosiguranja, company Blutek Auto, as well as Non-Life insurance company in Montenegro.

We had the pleasure to talk with Mr. Andrea Simonceli, President and CEO at Delta Generali Osiguranje Serbia.

1.Mr. Simoncelli, how did you choose your profession and where were you educated?

I studied Economy and Law at Rome University and I started, as a young economist, at FIAT economical department. When I moved to Turin, where Headquarter of FIAT is located, I was trained to be Finance and Administration manager. After few years FIAT moved me to its insurance department as CFO of Toro Assicurazioni SpA.

2.How and why have you decided to come to Serbia?

Generali Assicurazioni, a leading European insurance company based in Trieste, decided to increase its presence in Eastern European Countries since development abroad was one of its core strategy. Generali wanted to push its presence in Serbia and in 2011 proposed me to lead Delta Generali Osiguranje due to my international background.

3.To what extent has your experience from abroad been applicable in practice in Serbia?

International experience is fundamental when you go abroad. Serbia is not so different from other foreign countries. You have to understand and respect local rules.

Do in Serbia what Serbians are doing!

4., What had you been expecting when you became Delta Generali insurance President and CEO and how are current results?

I wanted to be market leader, to reward our shareholders and to satisfy our customers. I believe that all these three targets have been achieved even though we should newer sleep on laurels.

5.In your opinion, what is situation in Serbian insurance market at present?

Present economic difficulties affect Non-Life insurance since private families and small and medium enterprises are trying to save money and cut expenses. On the other hand, life premiums are increasing since customers need to protect their savings and to have future income.

6.What are the biggest gaps in work of insurance companies in Serbia and what should they change in order to achieve better results?

There are not big gaps in Serbia insurance market compare to other foreign markets. Local legislation is very close to European one and National Bank of Serbia is doing an excellent job to control and to supervise insurance industry. There is a lack of insurance culture and some financial products together with life group policies are still missing in Serbian market.

7.Education of people is essence for work of any insurance company. What do you do to that regard?

Delta Generali is the only Insurance Company that owns a captive Academy where we provide more than 80.000 training hours per year. Furthermore we cooperate with Singidunum University of Belgrade and MIB University of Trieste.

8.In your opinion, how much time is needed to see a change of the importance of insurance in average citizen’s awareness?

It’s a question of education that starts in school. Young generations make me feel optimistic, but it is a long process that requires many years.

9.What are novelties that your insured can expect in life insurance packages, this year?

If National Bank of Serbia approves this product It will be a possibility to start selling group life policies

10.Delta Generali is particularly focused on clients’ needs and therefore you implement the latest IT solutions, aiming at improvement of the service. What have you done so far to that regard?

We invest over 300 million dinar every year in IT, both in hardware and software in order to provide our sale force with a modern tool when they meet customers. We are the quickest in claims handling, claim settlement of MTPL policies are paperless and more than 1.000 lap top have been changed in the last 18 months within our company.

11.Your company pays great attention to children, both through savings policies and through different donor campaigns. What is new in this field?

Delta Generali has always paid attention to corporate social responsibility. When you are in insurance business you should never forget the less lucky ones. Children, of course, are at the top of our intention but also hospital for palliative care.

We employee 2.200 people spared in 54 different cities in Serbia.

12.Training of the employees in the sales department is very important. How do you conduct such trainings? Who are instructors? To what extent can Serbia keep up the pace with Europe in the field of education of employees?

As mentioned, we have our internal Academy with a staff of 6 trainers. Each new employee must attend minimum 5 days of training at the beginning, other than usual annual training. Training is not so widespread in Serbia and this is definitely a weak point that has to be corrected since Serbian Universities are very good.

13.Delat Generali is known for continuous innovations in business. What is the latest business news from your company in Serbia?

We have hard innovation and soft innovation. We launched one brand new innovative Life product called “Total Profit” and two Non-Life products for legal assistance and agriculture. Furthermore, every month we award one of our employees who suggests an innovative idea aimed to improve operational efficiency. Delta Generali Executive Committee examines several proposals monthly and chose the best one. Up to now, 11 proposals have been chosen and awarded.

14.How much did world economic crisis affect operations of Delta Generali insurance in Serbia?

Not too much up to now. We are a Serbian company not exposed to international economy. It is Serbia economy that is affected by world economic crisis and as a consequence is affecting us through a limited growth.

15.What are the business plans of Delta Generally insurance for the next period?

To become market leader in Non-Life. Actually, in this field we are number two and number one in retail, but I am convinced that also large public companies will review their insurance plan and choose the insurer that provides best service at lowest price.

16.Do you have life insurance policies within Delta Generali?

No within Delta Generali Serbia but within Generali Italy. Life policy I have is exactly the same to the one that is sold in Serbia.

17.If you could, what would you change in your career so far?

Absolutely nothing. I am convinced that ’m doing the best job I wanted. To pay claim, particularly when people are in distress, is the best part of insurer job.

18.How do you spend your spare time in Belgrade?

Traveling around Serbia, meeting local people included less lucky ones, knowing the richness of Serbian culture and tradition and learning Serbian language “ali treba da učim više”.