ALLIANZ BULGARIA: MANAGING CHANGE

Nowadays we often remind ourselves that the future is unpredictable. But professionals such as Gichka Arnaudova, Sales Network Bancassurance Director at Allianz Bulgaria, know how we can profit even in an unstable situation. Gichka Arnaudova has dedicated her professional life to insurance, including with a PhD, and is a member of the Council of Women in Business in Bulgaria. She is married, with 3 children.

How did the financial market change in 2020 and what challenges it created for business?

2020 was turbulent for all sectors, including insurance and banking. The pandemic, the turbulent economy and the increasing regulations required very quick adaptation and focus on unorthodox solutions.

Restriction of face-to-face contacts with clients was a serious challenge for our business. Social isolation and the new way of communication accelerated the processes for digitalisation of services, optimisation, logistics and work training in the new reality. The dynamic situation, for its part, forced us to accept change as a natural part of life and the new reality. Change will select the companies on the market that adapt quick and remain competitive.

I love quoting the famed economist and Wall Street analyst, Nassim Taleb, that "change is the only constant," and that the skills to manage risk and to provide business continuity are the crucial values in the formula of success.

What policies should managers apply to be adequate to the situation?

In the recent years the business environment has been incredibly competitive and dynamic. Consumers of financial products are more informed, increasingly use digital services and require high professional expertise and communicational mobility. They do not want separate insurance, investment or bank products, but complex personalised solutions. This change requires from the manager to be proactive and to apply adequate policies, preemptive to the market's dynamic. The new visionary management solutions step on knowledge, energy and skills. They do not only follow the market. They change it. The most important quality today is the desire and ability to manage change by creating know-how in all aspects of the business environment. This makes us leaders and allows us to be on the market and model it.

What solutions does Allianz Bulgaria offer?

Allianz Bulgaria offers the full range of financial solutions: insurance, life insurance, retirement provision, banking and leasing. The company is a part of the global leader in insurance and asset management Allianz SE. We stand out with our individual approach to clients.

Global development singled out several trends in economic development. More investments go towards solving environmental problems. The progress in technologies and innovations stimulates investment in the high-tech sector and the development and implementation of AI. Investors increasingly refocus from traditional products to the so-called future funds, which are also some of our latest financial solutions.

Sales Department: Sofia, 19B Tsar Boris III Blvd

0700 13 014

www.allianz.bg