It Is Windy at the Top

I start from the beginning when I have no other option. This is how I created the beautiful flower in the insurance sector – Victoria Insurance Company

Dancho Danchev:

It Is Windy at the Top

Снимка: EconomyMagazine/Krassimir Svrakov

Автор: Tatyana Yavasheva

Dancho Danchev has been the CEO of Generali Insurance AD since 2015. His professional career started in 1995 at Bulgaria Insurance Company as Insurance Claims Inspector. Later, he became the director, deputy executive director, executive director and member of the Management Board of various insurance companies, including Victoria. From 2011 until 2015, he was the Chairperson of the Management Board of the Association of Bulgarian Insurers. He also received the Mister Economy award for his overall contribution to the development of trade and services, as well as the Insurer of the Year award – for his overall contribution to the development of the Bulgarian insurance business.

After 20 years at management positions in the insurance sector, I am now convinced thatmanagement is a personal responsibility, but I am happy that my colleagues and I have built a wonderful team, and with many of them we have been together for more than 20 years.

The way up… was not easy. Especially when DZI was in the process of privatization, the politicians thought that the company was open for despoilment. I didn’t think so and the battles were fierce. My way up came naturally, thanks to my experience and desire to change some of the conservative processes in the insurance sector; luck was also part of it.

When you are at the top… it is windy, but my team helps.

The greatest danger for every leader… are the people around them – your team is your greatest asset, but it can also be your greatest liability. I am happy that I can trust my team 100%.

The success of everyone who leads other people depends on … the people they lead. But the leader is important.

My motivator… trivial, but it’s my family and the people I work with. Because of them, I continue to live at high speed every day.

I do not step back from...  the moral values I believe in. They make a person a human being.

I start all over again when… there is no other way out. This is how I created the beautiful flower in the insurance sector – Victoria Insurance Company, and it became part of Generali.

If I am left on a green meadow… I will start running to relieve myself from the stress. Or I will set up a company from scratch again.

My secret to success:… I always keep my promises!

Insurance in Bulgaria… is a complicated business, dominated by the car insurance instilled in people in the second half of the 1990s. I am amazed how for 20 years now, the attitudes have not changed and the car is the most valuable of all.

Digital transformation… is inevitable in the insurance business. Many of the professions in our sector will change. That is why we work on four big projects, which in 2020 will take Generali to a whole new level.

The profession … made me more resilient.

For a safer future… we need a world where peace is the most important.

If insurance didn’t exist… All my life I have been working in the insurance sector, and honestly, I have no answer as to what else I would do.

On the easy side, life looks like… just wonderful, but on the difficult side… it is interesting.

The best life partner… Generali.

Insurance tomorrow… will be based entirely on online platforms.

Me best way for relaxation… skiing in the mountains with my family and my friends.

If it were up to me, I would… remove envy and the pessimistic mood in Bulgarians and I would make them happy. But how? Everything is up to me, isn’t it!

To those whose professional carrier is about to start… I will say that my moral, discipline and responsibility helped me develop. I believe they will help them, too.

My life philosophy: … Dream and believe in yourself and you will achieve more.

I recommend to my friends… to spend more time with their loved ones and to find more time for fun.

Company Profile

Generali Insurance AD​ is one of the leading insurance companies in Bulgaria and is part of Generali Group.

Generali is one of the largest providers of insurance and asset management services on a global scale. Founded in 1831, the company is present in 50 countries worldwide with total premium revenue of more than EUR 66 billion for 2018. With nearly 71,000 employees serving 61 million clients, the Group has a leading position in Europe and a growing presence in Asia and Latin America. Generali strives to be a lifelong partner for its clients by offering innovative and personalized solutions through its well-developed distribution network. Through its regional office in Prague, the Group operates in Austria, Central and Eastern Europe, as well as in Russia, being among the top three insurance companies in the region.

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