Joining Brokerslink
Considering the extensive international experience of the original founders of the company, there was always an intention to expand across borders and share best practice from around the world with ICRm clients.
Brokerslink not only warmly welcomed ICRm as a member of the Brokerslink global family but also provided it with the ability to offer professional support to clients looking to expand into other countries. Needless to say, the resources and solutions provided by the central Brokerslink team and other members definitely expanded its footprint and capabilities.
Challenges & opportunities for brokers
Croatia is still a developing market with less than 30% of GWP managed by brokers. There are a number of challenges within the domestic market, on top of which there is a lack of underwriting capacity and now a hardening market after a long period of declining rates.
The Croatian insurance and broking market development
After being fully integrated into the EU following the introduction of the Euro and the Schengen area at the beginning of 2023, it is expected that there will now be more aggressive growth in the average premium per capita and in overall premium volume. This will enable insurance brokers to become the normal corporate choice and will enable ICRm to focus on delivering tailor-made and specialty solutions.
Attracting and retaining talent
ICRm prefers to hire students that will hopefully become employees after graduation as the brokerage provides them with a very motivating and relaxed environment in which to develop their own insurance interests, skills, and abilities. And, of course, the opportunity to work on international insurance programmes with different countries and people from all around the world, is certainly something that appeals to the incoming generation of insurance brokers.
"ICRm believes that insurance broking will always remain a predominantly “people’s business” regardless of the advance of technology and innovative solutions. However, the use of advanced technology definitely brings numerous benefits to the whole community including clients, partners, and employees.”
Trends and challenges on the horizon for the industry
ICRm believes that insurance broking will always remain a predominantly “people’s business” regardless of the advance of technology and innovative solutions. However, the use of advanced technology definitely brings numerous benefits to the whole community including clients, partners, and employees.
For example, it will be interesting to see how AI will help brokers at a time when insurance companies are starting to use this more frequently.
ICRm’s vision for the future
Over the last 12 years ICRm has established itself as a “boutique” insurance broker with a strong reputation for managing complex and complicated risks. Moving forwards, it will continue to provide unique tailor-made solutions for clients through its distinctive combination of partnership and friendship.
How insurers are helping to counter inflation and build resilience
Insurance companies should be able to provide affordable coverage for low-income households. They can also offer financial literacy and debt management education whilst working with governments to develop new risk transfer mechanisms for those affected by price shocks. Such as index-based insurance that provides payouts when certain thresholds in price rises are reached. There is also a need for products specifically designed to protect from extreme weather events and other natural disasters.
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Croatia, the edge of Europe
The beautiful country on the Adriatic Sea is becoming one of Europe’s popular destinations for international tourism due to its long and scenic coastline, over a thousand islands and stunning natural landscapes, excellent cuisine and wine and reputation for great hospitality. It is a country where history and culture abound. In fact, Croatia has the highest number of UNESCO Intangible Goods of any European country – 14 to be precise. Any fans of Game of Thrones from across the globe will also recognize many places as the series was filmed along the coast of Croatia in Split and Dubrovnik.
What to see
With a diverse nature spanning from the high mountains, large forests, to the Mediterranean coast, Croatia is a haven for nature lovers. And as the country is quite small, visitors can easily enjoy all of the different sceneries within the same day. Croatia is a Mediterranean country. With a coastline of 1224 islands, the crystal clear Adriatic Sea is the real Croatian tourist attraction. Excellent connections between the coast and the islands makes Croatia one of the most beautiful summer vacation countries.
Where to eat
A journey through the variety of tastes and flavours of Croatia is, quite simply, a reason to visit the country in itself – from superb seafood to spit-roasted lamb, opulent stews, exquisite truffles and the seasonal bounty of wild asparagus, chestnuts and cherries. Head to Ston for fresh oysters, the forested mountains of Gorski Kotar for game dishes, Slavonia for stuffed cabbage leaves, and the Istrian hinterland for some of the best olive oils anywhere in the world.
Where to stay
Many towns in Croatia look like live museums, often walled like Zadar, Trogir, Šibenik, Korčula, and Dubrovnik. There are stunning Adriatic sunsets for those walking on the city walls. In continental Croatia, the medieval Trakošćan castle, baroque capital of Croatia – Varaždin, Tito’s Ethno village, Baranja – the land of wine, or gold prospecting in Medjimurje all await visitors. Its cities - from Zagreb to Istria, Dalmatia, Lika, Slavonia, and Dubrovnik - have been the home for some of the most famous world travelers, inventors, scientists, and athletes in the world. In every corner of Croatia’s old cities, it is possible to see the remains of Croatia’s turbulent past with many archaeological sites dating back to the Roman Empire, such as Salona near Split or Vespasian’s amphitheater in Pula.
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