Globally, in 2023 we expect worsening economic indicators and continuation of the uncertainty caused by the turbulent 2022 and geopolitical factors, which will continue to affect the markets’ volatility.
This global uncertainty will also spill over into our country, where citizens are already facing low purchasing power and rising costs of living.
The business sector will be affected by the increased outflow, but also by the decreasing number of people interested in the traditional work model, so we can expect that the talent war will intensify, and companies will invest funds and in innovative ways to find, attract and retain the necessary staff.
For the insurance sector, the biggest challenge will be price sustainability for mandatory car insurance due to a significant increase in reinsurance costs, increased spare parts prices and higher repair costs.
Certain tax changes affecting voluntary health and life insurance will inevitably increase costs for customers and slow down the demand for these currently fast-growing products.
Link to the published statement in the magazine “Ekonomija i Biznis”.