We do not just follow trends,
we create them.
- Gabrijel Škof, President of the Management Board 
Management
Member of the Management Board
Member of the Management Board
President of the Management Board
Westerlaken,
Member of the Management Board
Od leve proti desni:
Matija Šenk, Member of the Management Board;
Varja Dolenc, Member of the Management Board;
Gabrijel Škof, President of the Management Board;
Willem Jacob Westerlaken, Member of the Management Board.
Executive directors
Executive Director of Retail
Executive Director of Insurance Cases
Executive Director of Finances and Accounting
Executive Director of Health Insurance
Executive Director of IT and Organization
Executive Director of Life Insurance
Executive Director of Marketing
Executive Director of Property Insurance
Executive Director of Operative Insurance Performance
Above from left to right:
Aleš Žižmund, Executive Director of Retail;
Miloš Milivojević, Executive Director of Insurance Cases;
Ivan Mohar, Executive Director of Finances and Accounting;
Ivan Gracar, Executive Director of Health Insurance;
Edvard Šimec, Executive Director of IT and Organization.
Below from left to right:
Maja Benko, Executive Director of Life Insurance;
Karmen Škoda Piško, Executive Director of Marketing;
Aleksandra R. Tisnikar, Executive Director of Property Insurance;
Tanja Blatnik, Executive Director of Operative Insurance Performance.
Directors of business units
Director of PE Koper
Director of PE Celje
Director of PE Postojna
Director of PE Ljubljana
Director of PE Kranj
Director of PE Maribor
Director of PE Murska Sobota
Director of PE Novo mesto
Director of PE Nova Gorica
Above from left to right:
Borut Širca, Director of PE Koper; Srečko Dobelšek, Director of PE Celje;
Anton Marušič, Director of PE Postojna;
Borut Završan, Director of PE Ljubljana;
Franci Strniša, Director of PE Kranj;
Vinko Prislan, Director of PE Maribor.
Below from left to right:
Milena Grah, Director of PE Murska Sobota;
Jasminka Kovačič, Director of PE Novo mesto;
Rok Filipič, Director of PE Nova Gorica.
Business activity
Financial results
The market share of Adriatic Slovenica (AS) at the end of 2013 amounted to 15.5 %, i.e. 2.5 per cent more than in 2012 (source: SZZ, all market share data). The increase in market share is mostly attributable to the merger of the associate insurance company KD Življenje in October 2013. The Company increased its collected premiums in 2013 by 13.7 %. This increase was primarily due to an increased volume of life insurance premiums at the takeover of the life insurances portfolio of the associate insurance company KD Življenje. The market insurance premium in 2014 decreased by 4.4%. Also in 2013, AS collected most premiums in the field of property insurances, followed by health and life insurances.
- More than 20 years of business
- Operating at 9 business units
- Trusted by 640.000 insured persons
| 2013 | 2012 | |
|---|---|---|
| Gross written premium (in EUR million) | 306.4 | 269.2 |
| Gross claims paid (in EUR million) | 217.6 | 192.8 |
| Profit/loss before tax (in EUR million) | 15.9 | 17.1 |
| Net profit/loss (in EUR million) | 13.6 | 13.2 |
| Financial investments and cash equivalents (as at 31 December) | 532.9 | 327.4 |
| Gross insurance contract liabilities (as at 31 December) | 491.4 | 287.2 |
| No. of employees (as at 31 December) | 1,050 | 1,010 |
| Insurance premium per employee (in EUR thousand) | 291.8 | 266.5 |
| Return on equity (ROE) | 15.1 % | 15.8 % |
| Carrying amount of equity (as at 31 December) (in EUR million) | 93.2 | 86.6 |
| Carrying amount per share v EUR (as at 31 December) | 9.04 | 8.96 |
Trends in net premiums, net claims and benefits paid and underwriting result of Adriatic Slovenica d.d.
The structure of premiums by class of insurance business
Insurance areas
Financial data of 2013
Financial results
Adriatic Slovenica performed well and ended 2013 with profit before tax amounting to EUR 15.9 million and net profit totalling EUR 13.6 million. The achieved net profit increased by 3.1 % over the same period in 2012.
Income and expenses for the financial year by insurance class
| Insurance class | Income in EUR thousand | Expenses in EUR thousand |
|---|---|---|
| Accident insurance | 18,750 | -15,580 |
| Health insurance | 115,714 | -110,437 |
| Land motor vehicles insurance | 58,345 | -62,620 |
| Railway insurance | 0 | 0 |
| Aircraft insurance | 21 | -23 |
| Marine insurance | 893 | -608 |
| Goods in transit insurance | 1,629 | -1,294 |
| Fire and natural forces insurance | 17,677 | -18,794 |
| Other damage to property insurance | 12,949 | -16,605 |
| Motor vehicle liability insurance | 65,121 | -56,551 |
| Aircraft liability insurance | 24 | -22 |
| Marine liability insurance | 652 | -292 |
| General liability insurance | 7,051 | -7,738 |
| Credit insurance | 3,784 | -1,413 |
| Suretyship insurance | 256 | -191 |
| Miscellaneous financial loss insurance | 804 | -574 |
| Legal expense insurance | 186 | -155 |
| Assistance insurance | 6,522 | -6,214 |
| Life insurance | 40,611 | -28,159 |
| Unit-linked life insurance | 117,800 | -127,057 |
| Income protection insurance due to accident or illness | 1,188 | -1,328 |
Integral assistance
Professional staff
At the end of 2013 there were 1050 employees with AS. Most of them, 41 per cent of employees, possess the 7th or higher level of education. For education and training, we spent almost 400 thousand euros; 97 per cent of employees participated in such activities, and their medium attendance to educational and training activities amounted to 37 hours.
Our widespread marketing network
The insurance company at the end of 2013 provided insurance services through nine business units in all regional centers of Slovenia, the four branches, 42 representative offices and in contractual marketing network of insurance agencies with 130 points, where business deals are made and in the network of 161 sale points complementing sales channels. Overall in 346 sale points. More than 900 agents is taking care of the customers.
Customer Assistance Center
Our fundamental goal is the satisfaction of our clients in all areas of insurance and the provision of comprehensive answers to all our customers’ questions. In 2013, we recorded 228,820 calls to our free telephone number, which is 26 percent more than in 2012. We received 36,410 e-mails in 2013 through our communication channel info@as.si. In comparison with the year 2012, the number increased for 86.2 percent.
Integration into the environment
In the context of strategic development orientations, it is our priority to support projects in the fields of health, education, culture, sports and traffic prevention. In 2013, we supported more than 520 projects. In the field of sports, we continued to support the Olympic Committee of Slovenia and the Slovenian Football Association and numerous other national and regional teams and clubs. We supported RTV Slovenia Symphony Orchestra, Auditorium Portoroz and Koper Theatre and promoted the development of entrepreneurship by supporting the project enterprising Primorska. One of the most important partnerships we have entered into in the 2013, was the support for the project iHELP - a mobile application to save lives.
Our values
In order to adapt more effectively to the market and to follow the planned business objectives, we have revised our values in 2012. In our activity, we pursue five values, as well as the management of the Company does and enacts them actively and with its behavior transmits it to the employees. We stake on them in our relationships within the Company, but we also reflect them towards outside, in our relations with the clients and all other participants.
Reputation and satisfaction
We are systematically monitoring already for many years the level of satisfaction of policy holders and potential clients, familiarity and reputation of the Company through internal monitoring systems and analysis, but also through annual surveys, carried out by external, independent research institutions. Monitoring the satisfaction of insureds, the familiarity and the reputation of the Company are important elements to discover, explore and develop insurance products, services and business processes, which aim is to please the insured and to make successful business by the insurance company.
Survey Ugled (‘Reputation’) (Kline & Partner, 2013)
Among other companies, which participated to the survey to find out, how well-known are they in the business environment, AS occupied the 29th place. Among the companies from the same line of business, we occupied the 2nd place and this corresponds to our market share. Among all included Slovenian companies, the business public ranked AS to the 33rd place and to the group of the companies with above-average reputation, and compared to 2012, we recorded the highest growth among the companies in the branch, topping the two largest commercial competitors and we were promoted for 7 posts on the scale of most reputable companies.
Survey Zavarovalniški monitor (‘Insurance Monitor’) (2013)
Among spontaneously mentioned insurance companies, AS occupied the 2nd place. In the group of insurance companies that the clients choose to start to cooperate, we occupied the 3rd place. Policyholders assessed us as the second most attractive insurance company in Slovenia, as an economically stable and safe insurance company on which they can rely. Capable and expert personnel and agents satisfy them and they identify us as a constantly innovating insurance company. The respondents ranked us in the 2nd place with an average rating of 4,2 (on a scale from 1 to 5). It is important, that among all analyzed companies we recorded the largest share of satisfied policyholders – 57 % (score 4 on a scale from 1 to 5) and only 1 % dissatisfied (score 2), and there were no very unhappy insureds (score 1).
Survey All Finance – understanding the brand (Valicon)
The respondents ranked the brand power of Adriatic Slovenica (AS) the 2nd place. Examining the satisfaction of our insureds (those who mentioned AS as their primary insurance company), we were ranked among the insurance companies with above-average satisfied policyholders compared to the satisfaction of the clients of competing insurance companies. Here we recorded the largest share of fully satisfied policyholders-16 %, while the other insurance companies got 12 % or less).
Share of completely satisfied clients (AS as the principal insurer)
Source: Survey All Finance, Valicon 2013
Internal Client Satisfaction Survey
The survey of policyholders satisfaction in the process of resolving insurance cases was performed in 2013 for the seventh time. Among the insureds and potential insureds we captured once again a representative sample of 1,120 respondents who received in October and November the disbursed damages (natural persons). The internal survey results are excellent again for AS. On average, they show more than 91 % of satisfied policyholders. 87 % assessed the offer of the insurance company as a quality and modern and adjusted to their needs.
Survey results at the question: I am satisfied with the insurance company Adriatic Slovenica
Source: The Internal survey on the satisfaction of clients in the process of claim resolution 2013
Survey results regarding the following question: Insurance are of good quality, modern and adapted to my needs.
Source: The Internal survey on the satisfaction of clients in the process of claim resolution 2013
Survey results regarding the following question: Reported damage or accident was resolved quickly.
Source: The Internal survey on the satisfaction of clients in the process of claim resolution 2013
Survey results regarding the following question: In the field of claim or accident settlement, my expectations were met.
Source: The Internal survey on the satisfaction of clients in the process of claim resolution 2013
Survey results regarding the following question: Were your expectations met in the field of insurance conclusion?
Source: The Internal survey on the satisfaction of clients in the process of claim resolution 2013
Survey results regarding the following question: Are, in your opinion, insurance of good quality, modern and adapted to your needs?
Source: The Internal survey on the satisfaction of clients in the process of claim resolution 2013