The third Insurance Day, organized in cooperation with the Faculty of Economics and the Insurance Supervision Agency, was dedicated to life insurance and brought together numerous experts, representatives of insurance companies and students. The central part of the event was a panel discussion called "Life insurance - situation and perspectives", moderated by prof. Dr. Milijana Novović Burić, full professor at the Faculty of Economics. She emphasized the importance of life insurance as a form of culture that determines not only a civilized society but also the modern financial market and economy. She pointed to the role of insurance companies as key institutional investors in the financial markets, stressing that life insurance is important for the financial security of individuals, families and society as a whole. The discussion aroused the great interest of those present, and among the key conclusions, the significant potential of the market for further growth, the need for innovation, digitization and education of citizens, as well as the importance of the cooperation of all actors in the insurance market, were singled out. Photo gallery

Dean of the Faculty of Economics, prof. Mijat Jocović, Ph.D., expressed his gratitude to the Agency for Insurance Supervision and insurance companies for their support, stressing that the goal of such events is to connect theoretical knowledge and practical skills. Jocović emphasized that the faculty wants to be a platform for the exchange of ideas and discussions on current economic topics, which the Insurance Day confirms every year.

The President of the Council of the Insurance Supervisory Agency, Marko Ivanović, referred to the positive trends in the Montenegrin life insurance market, which currently accounts for around 20% of gross premiums and is growing twice as fast as non-life insurance. He also emphasized that life insurance companies invest significant funds in state bonds of Montenegro, in the amount of almost 122 million euros, which represents 60% of the total investments of insurance companies in bonds. Ivanovic added that life insurance is not only a savings instrument, but also an important risk protection mechanism, which enables citizens to ensure financial stability in the future.

CEOs of insurance companies shared their experiences and visions for improving the market. It was emphasized that innovations, such as new products and sales channels, are the key to further development, but also that educating citizens about the importance of insurance is necessary. The importance of financial literacy was especially pointed out, because more and more citizens recognize life insurance as a safe way of investing in the future. At the same time, companies have recognized the challenges of the regulatory framework and the need for digitalization of operations in order to facilitate access to users.

The event also had an educational character for the students, who were especially engaged through an insurance knowledge quiz. The best participants were provided with prizes donated by insurance companies. In addition, the Insurance Supervision Agency awarded prizes for the best bachelor's and master's thesis for the year 2024, which further promoted the expertise and research work of young economists.

In the end, the participants expressed their belief that the Montenegrin life insurance market, with further innovation and cooperation, will continue to grow and contribute to a safer future for citizens and the country's economy.