In October — a month many associate with savings — we spoke with Nikoleta Subert, Director of the Life Insurance Sales Directorate at Dunav Insurance Company. In a warm and open conversation, we discussed not only numbers and market trends but also the emotion behind the decision to invest in someone’s future — whether it’s the future of a child, a parent, or our own.
“October is the month when nature changes its colors, days grow shorter, and our thoughts become quieter. In those moments when the world slows down, we often pause too — to look back, to reflect on what truly matters: family, security, the future. It’s precisely then that the idea of life insurance stops being a cold financial term and becomes a decision born out of deep love and responsibility,” said Nikoleta Subert at the beginning of our interview, with a warmth and attentiveness that inspire immediate trust.
Through our discussion about lasting security, the trust that’s built, and the many dimensions of life insurance, it became clear that Subert’s view of her work is not merely professional — it’s profoundly personal. For her, insurance isn’t about numbers; it’s about providing people with peace of mind, stability, and the reassurance that they are not alone in facing life’s uncertainties. In her eyes, every person carries a story, and every client is approached with care — as though they were family. At a time when trust has become the most valuable currency, her perspective reminds us that security is not a luxury — it is an act of love.
Q: In October, you’re launching more intensive campaigns and activities. Does autumn hold a special meaning for you in a business sense?
Nikoleta Subert: Absolutely. For us, autumn is always the time when all our business channels begin operating at full strength. It’s the season for promoting scholarship insurance, preparing for year-end, and participating in major events such as the Pensioners’ Fair in Novi Sad. This year, our booth will be something special — we’ll host our dear partners from Senior Travel, who will offer pensioners numerous benefits and travel discounts. Through this collaboration, we want to show that insurance is not just a piece of paper or a policy, but care, support, and an experience that lasts.
Q: You’ve mentioned scholarship insurance. Do you feel that people today are more willing to think long-term when it comes to their children and their future?
Nikoleta Subert: Yes, and that makes me truly happy. People are increasingly looking at the bigger picture — thinking about education, independence, and giving their children a secure start. Scholarship insurance is one of the most beautiful ways to achieve that goal. It’s especially important to note that it doesn’t require large sums of money. I often say that for less than 100 dinars a day — the price of a coffee or a snack — you can give your child the gift of security. Something that will help them choose their own path more easily, provide financial stability at crucial life moments — when entering university, studying abroad, starting a career, or even launching a business. It’s not just about saving money — it’s a message of trust and love, woven into every monthly payment.
Q: What does this look like in practice? Who most often opts for this type of insurance?
Nikoleta Subert: It’s interesting that the first steps are often taken by grandparents, who, through life experience, recognize the long-term value of such policies. They see scholarship insurance as a gift that doesn’t age, doesn’t fade, and becomes a precious legacy left to a grandchild. Our task is to bring this idea closer to young parents as well — to show them that such a significant gift doesn’t require a large sum, only a decision. Because the most important gift we can give a child is not a toy — it’s the feeling of security.
Q: Parents often postpone the decision to take out scholarship insurance. How can that be resolved?
Nikoleta Subert: We believe education doesn’t start at university — it starts the moment a parent decides to provide their child with security for future choices. We’re here to ensure that every step a child takes is built on a solid foundation. Parents usually make this decision when their child starts school, but it’s never too late. A policy can be taken out at any time before the child turns eighteen. The shortest term is four years, but it’s best to start right after birth, when payments are lowest and the fund grows most. When the child comes of age, they become the sole legal owner of the funds, with full rights and freedom of choice. Scholarship insurance therefore provides not only financial support but also a valuable life lesson in independence and responsibility.
Q: Why does scholarship insurance still account for only a small portion of the overall portfolio?
Nikoleta Subert: Unfortunately, it’s still relatively small — scholarship insurance currently accounts for about 20 percent of Dunav’s total life insurance portfolio. The main reason lies in a lack of awareness and the mistaken perception that such an investment is too expensive. Our goal is to change that — to bring this topic closer to parents in a clear, emotional, and simple way. A child’s future is built step by step, day by day. As a company, we strive to make information about scholarship insurance more accessible and understandable. That’s why we continue to invest in communication — through media, social networks, and educational content — to help make every parental decision easier and safer.
Q: What would you say to parents still considering whether to take out scholarship insurance?
Nikoleta Subert: Children grow up so fast. Today you’re tying their shoelaces; tomorrow they’re choosing a university. Scholarship insurance is a message of trust — “I believe in you, and I want to make your first steps and life decisions easier.” It’s accessible, flexible, and heartfelt. Perhaps it’s the most beautiful gift you can give — a gift that lasts.
Q: In addition to working with the youngest, you’re also active in group insurance and with the elderly population. How do you balance such different target groups?
Nikoleta Subert: It’s a wonderful challenge — we literally work with entire families. We’ve developed tariffs that follow different stages of life, and we strive to be a partner through all of them. Pensioners enjoy special benefits, especially through group insurance. As I mentioned earlier, the Pensioners’ Fair and our long-term cooperation with Senior Travel, a travel organization for older adults, further strengthen our mission. People need to know that insurance can bring not only security but also a better quality of life — both in youth and in retirement. At the upcoming Fair, we’ve prepared a small surprise — a special 5 percent discount for holders of group pensioners’ policies on selected travel packages. Because for us, life insurance isn’t just about protection — it’s about creating opportunities to live without worry.
Q: Your Directorate has achieved impressive results — second place in the life insurance market is no small feat. How do you see this accomplishment?
Nikoleta Subert: This is the result of dedicated work, the trust of our policyholders, and an exceptional team spirit. According to official results for the first two quarters of 2025, we’ve taken second place in the life insurance market — our best result since the Directorate was founded. We’re especially proud that both internal and external sales fully met their targets and that the average monthly premium has increased significantly. All planned objectives for 2025 have been met, and projections for year-end indicate that both written and collected premiums will be fully realized. Our growth trend, now in its fourth consecutive year, significantly exceeds the average market growth — earning us this commendable second place. The average monthly premium has risen from 2,000–2,500 dinars to about 4,000, showing that clients are choosing more comprehensive coverage. The focus is gradually shifting from mixed insurance products to endowment packages (without medical questionnaires), combined with risk-life insurance and accident riders, providing maximum coverage and a complete, well-rounded package.
Q: What are some of the new initiatives you’ve introduced?
Nikoleta Subert: Since July, we’ve established a Direct Sales Department, which also manages our Customer Service Center — providing advice and support to all policyholders. This has led to a 25 percent increase in policy renewals and a significant improvement in premium collections. Our agents now also contract property insurance products, focusing on Casco Collision and Homeguard. To prepare for this, our colleague Momir Talic conducted training on “Sales Argumentation and Techniques for Property Insurance Sales” across all life insurance departments. We currently have a reward competition running for top-performing agents. Dunav Insurance is one of the most socially responsible companies in the region, with a long tradition of investing in young talents — from sports to the arts. Starting this autumn, we’re expanding this mission by visiting elementary schools with our partners from the Youth Sports Games, presenting scholarship insurance to young ambassadors. Our 2024 ambassador, Vidan Jerotijevic — a sports organizer, athlete, and student — will promote our products for children and youth. Additionally, as mentioned, the 5 percent discount on selected travel packages for pensioners with group policies is another way we help clients enjoy a quality, carefree life after retirement. All these initiatives reflect our broader mission: to build trust at every step, provide security, and be a reliable partner to all clients. We believe true protection should be accessible to everyone — regardless of age or life stage.
Q: You often say insurance isn’t just about numbers, but about stories. What stays with you personally — the part that can’t be found in an Excel spreadsheet?
Nikoleta Subert: What a beautiful question. I’m most moved by moments when I see policyholders, after years of saving, using those funds to help their children study — or when a grandmother tells me, “This is my gift to my grandson so he knows I thought of him.” That’s when you realize you’re doing the right thing. Our policies aren’t just documents — they’re quiet letters of love and care that people leave for their children, grandchildren, and partners. I’ll never forget the story of a young man who, thanks to insurance coverage, was able to continue his therapy after a critical illness because his family made the right choice early on. That’s not just a number — that’s a life saved and hope restored. Those human stories are what stay with you — and motivate us to do even better every day.
Q: What is your personal view of life insurance?
Nikoleta Subert: For me — as a mother, a woman, and a manager — life insurance is my way of saying: “I’m here for you. I think of you at every moment — both when I’m by your side and when life takes us on different paths.” It’s a quiet sign of security, support, and love that we leave for our family. No number can express that kind of value.
One of the most significant achievements, Subert added, is the record profit distribution to policyholders, which in 2024 amounted to 470 million dinars. This stands as the best indicator of the efficiency and dedication of Dunav’s team — and the careful investment policy applied to life insurance premium funds.