The Insurance Supervision Agency of the Federation of Bosnia and Herzegovina actively participated in the conference, which represents the largest gathering of insurers in Bosnia and Herzegovina.
The conference brought together more than 200 participants from the world of insurance, representatives of insurance companies, regulators, supervisors and other supporting financial institutions from BiH and the region.
Jasmina Selimovic, Governor of the Central Bank of Bosnia and Herzegovina, pointed out that the citizens of Bosnia and Herzegovina still do not have a sufficiently developed awareness of the fact that insurance is an investment, and not something that the legislator forces them to do.
The presentations covered a wide range of topics, including new approaches in risk insurance, the importance of data in making business decisions, the impact of digitalization and artificial intelligence on the insurance process, the development of innovative products that adapt to the needs of users, and regulatory changes affecting the insurance sector.
"The insurance market in the Federation of Bosnia and Herzegovina is recording premium growth and has stable indicators despite the challenge of inflation that marked the end of 2022 and 2023. Although insurers achieve premium growth and, according to official reports, positive effects in part of the achieved business results at the market level, for insurance companies from the Federation of Bosnia and Herzegovina in the coming period, a proactive approach to risk management is essential, since it is crucial that insurers focus not only on the current financial stability, but also on sustainability of future operations", emphasized the director of the Agency, Ivan Luburic.
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