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Maksim Kolev, Chairman of the Board of the Guarantee fund and executive director, took part in the latest FinTech Summit 2022 Conference

24 March 2022

Maksim Kolev, chairman of the board of the Guarantee fund and executive director, took part in the latest FinTech Summit 2022 conference, which is a traditional gathering place for prominent figures in the IT and financial sectors. During the panel discussion titled “Insurance sector: strategies in the digital world”, Mr. Kolev pointed out that over the last few years there has been a marked penetration of digital technologies in the insurance sector. The Covid-19 pandemic has given this process a strong impetus, and insurers successfully met the need for accelerated digitalization. Along with this, customers discovered how easy and safe it is to use digital insurance services, adapted to them and started to see them as a given, even after the pandemic restrictions were lifted. Of course, the Bulgarian insurance market still faces a number of challenges but the trend towards digital development is obvious. Maksim Kolev further commented that the insurance industry of a country is, on the one hand, a consumer of digital technologies, and on the other hand, it also offers solutions related to digital risk, through developing insurance solutions for managing cyber risk.