The impact of climate change on risk assessment, the adjustment of the underwriting policies, and the application of AI technologies were topics discussed in the second panel discussion titled “Insurance Sector: Adapting Business to Records Set by Climate and Other Changes” at the conference “Finance & Insurance Industries Trends 2025” organized by Bloomberg Adria.
The participants of the panel were Francesco Masci, the President of the Executive Board of DDOR Insurance, Sanja Nikolić, a member of the Executive Board of Wiener Stadische Insurance, and Milo Marković, a member of the Executive Board of Dunav Insurance. The panel was moderated by Ivan Vrdoljak, a producer at Bloomberg Adria.
On this occasion, the Chairman of the Executive Board of DDOR Insurance, Francesco Masci, stated that it was his pleasure to have the opportunity to participate in this conference once again, which is significant for financial and insurance companies, as well as to share his views on the impact of climate change on business and the increasing influence of new technologies.
“The outlook is muddied by the amount of economic and insured losses which, in 2024, amounted to $368bn and $145bn, respectively; therefore it is essential to strengthen the public-private partnerships in order to close the protection gap and it is critical to drive climate resilience in SouthEast Europe in order to promote and facilitate climate adaptation measures. All in all, policymakers should shift their focus from addressing climate crisis as an occupational emergency to a structural change, also considering the case for investing in buildings resilience and adaptation is strengthened by the returns generates which range from $2 to up to $19, for every dollar invested”.
The conference was officially opened by the Governor of the National Bank of Serbia, Jorgovanka Tabaković, and the introductory analysis of the financial sector in the Adria region was presented by Mihael Blažeković, head of the Bloomberg Adria analyst team.