Social responsibility

Modra zavarovalnica’s social responsibility is reflected in its relationship with employees, employers, members and policyholders, as well as with the wider community. Through responsible conduct, we strengthen trust, which is especially important in times of volatility in the financial services market.

Responsibility to the Wider Community

In Slovenia, 548,000 employees are saving for a supplementary pension through pension funds, with employers paying premiums for as many as 96 percent of included members. This shows that many employers, together with employee representatives, recognise the importance of supporting employees in building additional retirement savings.

However, this can also create a false sense of security. In many cases, contributions paid into pension funds are still too low to provide an adequate supplementary pension in retirement. At the same time, more than 300,000 employees in Slovenia are not yet saving for a supplementary pension.

Longer life expectancy and a declining share of the working-age population are placing increasing pressure on the pension system and reducing expected pension levels. Most Slovenians are already aware of these trends, but too few take active steps to strengthen their own financial security after retirement.

Young people, in particular, have the most to lose by postponing saving. The time they miss today must later be made up through significantly higher monthly contributions if they want to accumulate sufficient savings. This is why it is important to gradually change saving habits and raise awareness of the need to save for retirement, even when it still seems far away.

A significant part of our activities is focused on raising awareness of the importance and necessity of saving for retirement. To improve understanding of supplementary pension insurance and promote saving in life-cycle funds, we organise and participate in various consultations, prepare useful content for publication on websites and internal company newsletters, and provide expert support in preparing responses to employees.

We also educate HR and accounting departments on the options and benefits of saving through supplementary pension insurance. In addition, we provide employees with access to information offices at the premises of companies and public institutions.

Modra is also an active member of the European Association of Public Sector Pension Institutions (EAPSPI), which brings together 26 public pension institutions from 16 European countries. Boštjan Vovk, Member of the Management Board, serves on the Association’s Board of Directors. The Association’s main objectives are to encourage mutual support among its members and to facilitate the exchange of knowledge, experience and information on the implementation of pension plans and the functioning of pension systems in member countries.

Environmental Responsibility

We support environmentally oriented activities and actively contribute to responsible waste management. We reduce paper consumption, collect used printer cartridges and plastic bottle caps, and regularly respond to charitable initiatives.

In 2018, all collected plastic bottle caps were donated to the “Vesele nogice” association to support children with cerebral palsy and other developmental delays. We also supported the “Jaz, ti, mi za Slovenijo” project, which raises awareness among young people about the importance of a healthy environment, responsible attitudes towards nature and the recycling of waste materials.

In autumn, we joined the “Očistimo Slovenijo še zadnjič” clean-up campaign and helped clean the trail to Viševnik. Throughout the year, we also supported various associations and organisations by providing promotional materials for raffles and gift-giving activities.

We are especially pleased that, with Modra’s financial donation, Črnomelj Kindergarten was able to quickly renovate the old part of the Čardaki kindergarten after the severe hailstorm in June.

Care for Employees

Our responsibility to employees is reflected in our commitment to their well-being, the creation of a supportive working environment, and the continuous development of their professional knowledge and skills.

With clear guidelines, goal-oriented management, motivation and the involvement of employees in various projects, we foster a stimulating working environment. Each year, we conduct an employee satisfaction survey to measure progress in our efforts to create a working environment in which employees can realise their potential. The feedback received also helps us improve the quality of workplace relationships and employee satisfaction. We conduct annual personal discussions aimed at setting goals and defining each employee’s development path. Twice a year, performance review discussions are held to assess work performance and to provide employees with relevant feedback. Employees are regularly informed about current developments within the insurance company and new topics. We also encourage two-way communication through monthly meetings between the Management Board and employees.

We are also aware of the importance of safeguarding the health of all employees. Through the implementation of a health promotion action plan, we encourage employees to adopt a healthy lifestyle and reduce health risks, both in the workplace and in their private lives. Employees are also offered the opportunity to be vaccinated against seasonal influenza and tick-borne meningoencephalitis. In addition, the internal portal provides information on current health-related topics, as well as useful articles on physical activity and healthy nutrition.

We provide all employees, under equal conditions, with additional social security after retirement. By paying premiums into the supplementary pension insurance fund, we help employees build an additional source of income that they will receive after retirement.

We are proud holders of the full Family-Friendly Company certificate. Supporting employees in balancing their professional and family lives has become an integral part of our organisational culture. We believe that satisfied employees are more successful, feel a stronger sense of belonging, and experience lower levels of stress. This contributes to their overall well-being and supports better work performance.