The report contains also detailed information on the Group's system of governance, key functions, risk management system and own risk and solvency assessment. It also provides a detailed overview of the Group's risk profile.
According to the report, the strategy of the Sava Insurance Group sets out strategic goals in two ways, based on its three key focus areas in the strategic period 2020-2022 and based on the Group's key pillars of business operations. The key focus areas are:
o Digital transformation and placing the customer at the centre. We are working to make it easier for policyholders to take out and manage insurance and to file claims, which also includes adapting our services to the needs and wishes of our clients. The new generation of digital customers is accustomed to fast and easy online shopping with as few clicks as possible. The Sava Insurance Group is adapting to this reality; therefore, we have placed our core strategic focus on digital transformation and customer-centred orientation.
o IT transformation. Developing a modern and flexible IT system will give us a competitive advantage in the future through the overhaul of our central systems, which includes replacements, upgrades and the introduction of new IT solutions.
o Growth through acquisitions. In addition to effective organic growth during the strategic period, the Sava Insurance Group will continue its acquisition activities in the industries and markets where it is already present, and it will also look for growth opportunities in the insurance industry in other EU countries.
"The key goal of the Group's investment policy is to maintain low volatility and a high level of security of assets intended for covering obligations, as well as to ensure high liquidity and risk diversification. The Group is also making good progress in its strategy and is evolving into a customer-centric, modern, digital, socially responsible and sustainability-oriented insurance group. In 2020, we stepped up projects for developing digital solutions to provide customers with faster and easier access to services. We also placed special attention on investment opportunities in environmental and sustainability-oriented projects."