As far as my beliefs go, I think the way you do things is just as important, if not more, than how much you do. Both Groupama Romania and I are committed to respecting our values and mission, listening carefully, and responding with relevance and respect. The commitment my colleagues and I renew every day is to be a trusted partner our clients and collaborators can rely on when they need us most—regardless of the position we hold on the market.
What have been your major career achievements and how are they reflected in the development of Groupama Romania?
I am proud to be part of a great team steering a leader of the Romanian insurance market. I’m proud of the resilience we’ve shown through turbulent times, our ability to adapt, and the continuous hard work that has allowed us to get in this position. The achievements of recent years are a testament to that effort.
In 2022, we became the market leader after a pivotal moment in Romania’s insurance industry, and we took on our role with great responsibility. It wasn’t a goal in itself to be number one—it was a natural consequence of doing things right and having a strategy that was well adapted to the context.
2023 brought remarkable growth for us, the largest on the market, while we maintained very high levels of customer satisfaction. This is something we are particularly proud of and it confirms we’re on the right path. It was also a year of profitable and sustainable development for Groupama Romania, with gross written premiums exceeding RON 4 billion—a 37% growth compared to 2022, also the highest on the market. Excluding the MTPL segment, our gross written premiums in 2023 amounted to RON 1.63 billion, a 23% increase from 2022, outperforming the market growth by 8 points.
Our CASCO line was the top performer, growing by 26%, while the Property and Casualty lines also saw strong growth, increasing by 12%. The Other General Insurance line grew by 23% compared to 2022. Operating profit reached RON 217 million, and our solvency remained solid at 142% (SCR) and 269% (MCR), which allows us to continue on a sustainable growth path. We’ve consolidated our position on the market and have become the choice of more than 2 million Romanians and 175,000 companies, for which we are deeply grateful. Today, we proudly call ourselves a “glocal” insurer, where the expertise of an international group seamlessly blends with the local specifics and the high professionalism of our Romanian team.
What are your main personal values and how do you transpose them into your daily work?
Responsibility, fairness, empathy, and teamwork. These are the pillars that guide me every day. I hold my team in high regard, and while I am demanding, I believe I am also balanced, fair, and deeply committed to doing things right. For me, it’s about actions that propel us forward, as a company and as a team.We spend a big part of our lives at work and it impacts us—we need to be aware of this.
It’s essential that every decision I make aligns with the values, ensuring that we not only succeed but do so in a way that respects both our people and our mission. Whether it’s leading my team or interacting with our clients, I aim to embody these principles, because they are the foundation of both personal and professional success.
What can you tell us about your leadership strategy? What is your approach to working with the Groupama Romania team?
My leadership style is direct and fair. I believe in values like trust and responsibility, as well as in our power to evolve and integrate new things with purpose—whether that’s in terms of technology, trends or people. It’s not about rushing into innovation just for the sake of novelty, but about ensuring that every step we take is meaningful and aligned with our long-term goals.
At Groupama Romania, our strategy is built on three main pillars: quality of service, innovation, and responsibility towards our community. When it comes to the service, every interaction with our customers is equally important—whether they need information about an insurance policy or are dealing with a claim. We’ve committed to fast, simple, and empathetic actions, both through our dedicated teams and via digital support tools. We’ve introduced service commitments and guarantees to the Romanian market and created a collection of advantages, all of which are reasons why Groupama earns the trust and preference of Romanians. Innovation plays a key role and we constantly invest in new technologies to simplify and personalise the customer experience. This has allowed us to streamline internal processes and offer innovative solutions that meet individual needs. But I want to be very clear about this: we don’t innovate just for the sake of it. It needs to bring real value to our stakeholders. Finally, I deeply believe in our responsibility to the community. Whether it’s through social projects or sustainability initiatives, we take an active role in supporting the communities in which we live and work. My approach with the Groupama team is one of mutual respect and shared values. We don’t aim for perfection, but for progress—each day, we strive to be better than the day before. And that comes down to working with a team that is professional, motivated, and most importantly, empathetic.
How do you see the development of the Romanian insurance market?
2024 brings a mix of challenges and opportunities for the insurance industry in Romania. Agility and adaptability are still key in navigating this evolving landscape. We are still in the process of normalisation, and while the lack of predictability and economic uncertainty present hurdles, there are also clear growth opportunities.
One trend that’s gaining momentum is the acceleration of digitalization, particularly in the individual consumer segment. In an increasingly fast-paced world, consumers demand quick, secure, and accessible solutions—and we’re ready to meet that demand.
On the corporate side, there’s growing appetite for customised insurance solutions that are tailored to businesses’ specific needs, development plans, and budgets. This is ushering in a new era of transparency and accessibility for corporate clients, which we’re eager to foster.
We’re also witnessing rising interest in insurance overall, especially life and health insurance. These products have become essential for many companies, not only as a benefit but as a necessity for recruitment and retention. However, penetration rates remain relatively low compared to other European markets.
In this context, insurance is evolving into a true anchor of stability for both individuals and companies. It’s an encouraging sign that we’re moving in the right direction, and I’m confident that the Romanian insurance market will continue to mature and expand in the coming years.
What about the future of the global economy?
As I look ahead and take a global view, there are a few clear trends that stand out to me, in terms of both challenges and opportunities. We are living in a time marked by unpredictability, where economic resilience will be tested by a mix of macroeconomic forces and geopolitical events.
First of all, Europe is at an interesting crossroads. Some economies are navigating a slower pace of growth due to various factors ranging from energy costs—which have spiked dramatically in recent years—to inflation and supply chain disruptions. At the same time, newer economies in Eastern Europe, like Romania or Poland, have been outperforming in certain sectors, thanks to their adaptability. I believe that Europe, with its mix of mature and emerging markets, has the resilience to adjust.
What I find particularly important is that businesses—both in Europe and globally—need to focus on flexibility and sustainability. At Groupama, we are committed to ensuring that our clients are prepared for the unexpected. The interconnectedness of economies means that a challenge in one region can affect another, which reinforces the need for us to be proactive, adaptable, and above all, empathetic to the evolving needs of the communities we serve.
In the end, I’m optimistic, but also cautious. With innovation and collaboration, the global economy can weather these challenges and emerge stronger. The future will belong to those who can strike the right balance between navigating risks and seizing opportunities.
You’ve brought together numerous valuable professional experiences and learned many lessons throughout your career. Can you share some of the most important ones?
Adaptability is key to success. Today we are living a in world with high amount of information, new technology, new data, new players, disrupters. The ability to quickly learn, unlearn, and relearn has been central to my development. I strongly believe that staying curious, flexible, and open to change is crucial. Collaboration leads to better outcomes and generates some of the best insights and breakthroughs. No matter how smart you are, when multiple perspectives come together, the outcome is often richer and more innovative. Learning to truly listen, to incorporate diverse viewpoints, and work well with others enhances creativity and productivity. Feedback is a gift; learning to receive and give feedback, both positive and constructive, is invaluable for growth. Throughout my career, learning from interactions and feedback has allowed for continuous improvement, has helped me stay humble and connect with exceptional people. In a professional setting, embracing feedback helps refine skills, improve performance, and create a great organisational culture. Empathy enhances leadership and allows leaders to connect with others on a human level, fostering trust and a sense of belonging—these two are key to creating a great organisation. Some people may think they’re just not the empathetic type—I would say learn it, practice it day by day, and you will see it’s there; I say this because a leader who can understand the perspectives, challenges, and needs of others is better equipped to motivate and guide their teams, resulting in higher engagement and better outcomes for everybody.
Looking back at your business experience, is there something that you would do differently if you had the chance?
If I could do things differently, I would focus even more on being prepared for the unexpected—not just in business, but also in life. I would prepare for those moments when something completely unforeseen changes everything, since the real tests come from those disruptions we don’t see coming. I think the last few years have proven how important it is to make sure we’re always ready to shift when needed, to embrace agility and flexibility.
What about things you would not change?
One thing I’d never change is staying close to my people. Over time, I’ve learned that the real strength of any business is the team behind it. I’ve always believed in listening to their input, valuing their knowledge, and trusting their instincts. No major decision should ever be made without consulting the people who know the business inside – out. Building strong, loyal relationships within the team is something I’d absolutely do again, without question. Their support and wisdom have been invaluable.
From your perspective, what are the top 3 most important types of insurance?
First and foremost, life and health insurance. It’s about securing a future for your family or your organisation and ensuring they’re taken care of no matter what happens. Secondly, home insurance. For many of us, our homes represent more than just physical structures—they’re emotional anchors, places of comfort and security. It’s vital to take care of that. Lastly, I believe it’s important to make sure that we live our lives with responsibility and care, for ourselves and for others. That means embracing every moment with purpose, whether it’s easy or challenging. In a way, that’s the most valuable kind of “insurance” we can have—living with intention and meaning.
Source link : https://business-review.eu/br-exclusive/groupama-romania-pursuing-meaningful-and-responsible-innovation-on-local-insurance-market-272803
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Publish date : 2024-10-24 07:05:00
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