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About INSURANCE: In person - presents Kiril Boshov, CEO, Euroins Insurance Group

June 13, 2022

This year  "Association of the Bulgarian Insurers"(ABZ) celebrates 30 years since its establishment. For this purpose, in January 2022, a new column "About insurance: In person" was launched in Association’s newsletter. Every month, professionals from the insurance companies, members of ABZ, who are actively involved in the activities of the Association, are presented. The fifth edition of "About insurance: In person"  presents Kiril Boshov, a member of the Managing Board of ABZ.

 

5 QUESTIONS TO: KIRIL BOSHOV

Kiril Boshov, a member of the Managing Board of ABZ, Euroins Insurance Group– CEO and Chairman of the Managing Board of Eurohold Bulgaria

 

1. Your path to insurance as a profession: chance or conscious choice?

More of a coincidence I assume – it was almost 30 years ago when I had a claim under Casco insurance on my first personal car. The company in which the car was insured behaved in the worst possible way in the assessment and payment of compensation. Then I was able to see from firsthand the whole process of "claims handling" in the Bulgarian car insurance in the early 90's. And I saw in this an opportunity.

2. What motivates you to continue on this path?

I continue to believe that no matter how difficult this business is, it continues to have a very long-term positive outlook. In my professional career, I have gone through many other businesses that are now disappearing due to new technologies or outdated concepts. Insurance still seems just as relevant to me today as it did on the first day I was in this business. And here comes my motivation on how to change the company so that to stay relevant, better and more interesting for the clients in such a dynamic environment.

3. In order to achieve professional success in insurance, in addition to knowledge, you also need…?

You need very strong nerves and perseverance. You need ability to build a team and continue to motivate it despite the many difficulties. And each of these qualities is more important than professionalism. Because there are many professionals around us - the characters are in short supply. I also had the privilege to learn a lot about insurance from doyens of the sector, such as Mrs. Violeta Darakova, the first CEO of Euroins.

4. What are your reasons for deciding to dedicate your knowledge and part of your time to the general goals of the insurance guild?

I am used to working in regulated sectors - banking, asset management, insurance and now energy. There is no sector more dependent than the ones, I pointed out, on changes in regulations and legislation. And from this follows the conclusion that if the insurance guild does not speak united with the state (with Europe) about the necessary changes in sectored legislation, then no matter how good we are alone in the operational management of our companies, we can achieve almost nothing. You can't build an oasis for your company if it's just a desert around it. Insurance is also the most dynamic sector, where the rules of the game change almost every month, whether imposed by Europe or by various local reasons.

At the same time, my work for the Board of ABZ gives me great pleasure. There are wonderful colleagues, both from my and the newer generation, and there are interesting discussions on important topics for the insurance sector. In general, in ABZ I have never perceived my colleagues as competitors, but as like-minded people.

5. What makes you smile in life outside of insurance?

The pleasures like dinner with friends, vacation with family and favorite sport for which it is very difficult to find time lately.

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