Abstract
This paper presents the current condition of the insurance market by creating an unpretentious review and pointing to the current deficiency of the insurance system in Serbia. It outlines some ideas that might solve certain issues and improve the current situation. Referred innovations that were introduced last year in the world market are very useful and can also serve as a good standard for joining the global insurance. Last but not least, the paper addresses the segment of insurance frauds as alarming incidences in need of attention. If we consider the "Basic Elements of Insurance", risk, premium, and indemnity, and if we follow the development of the insurance throughout the world, we recognize that technology development and reduced business costs imply greater risks, a growing range of new products, decreased premium, and stimulating increase of the Indemnity. This leads us to the conclusion that we must enter the race with the developed countries and accept the way of their business management by following the latest innovations in the insurance market in order to be competitive and competent.
Highlights
If we consider the "Basic Elements of Insurance", risk, premium, and indemnity, and if we follow the development of the insurance throughout the world, we recognize that technology development and reduced business costs imply greater risks, a growing range of new products, decreased premium, and stimulating increase of the Indemnity
This leads us to the conclusion that we must enter the race with the developed countries and accept the way of their business management by following the latest innovations in the insurance market in order to be competitive and competent
A justifiable reason for the skepticism of the population towards insurance proposals and a reason for the underdeveloped insurance market in Serbia can be partially found in the course of development of insurance itself
Summary
A justifiable reason for the skepticism of the population towards insurance proposals and a reason for the underdeveloped insurance market in Serbia can be partially found in the course of development of insurance itself. If we consider the "Basic Elements of Insurance", risk, premium, and indemnity, and if we follow the development of the insurance throughout the world, we recognize that technology development and reduced business costs imply greater risks, a growing range of new products, decreased premium, and stimulating increase of the indemnity This leads us to the conclusion that we must enter the race with the developed countries and accept the way of their business management by following the latest innovations in the insurance market in order to be competitive and competent. It was extremely difficult to defend oneself from such a pressure and people feared their phone calls This way, we would obtain qualified and trained personnel, improve and speed up the development of our economy, and help in making first steps towards reducing ’’brain drain’’. We will mention some of the more important innovations and quote a passage from the “Insurance“ magazine published by ’’Dunav osiguranje’’ company by author Dragomir Jovičić
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
