• Gjorceva Vesna MSc Student at the Faculty of Mechanical Engineering, "Ss. Cyril and Methodius" University in Skopje, Karpoš II bb, P.O. box 464, 1001 Skopje, Republic of N6rth Macedonia
  • Vrtanoski Gligoce Faculty of Mechanical Engineering, “Ss. Cyril and Methodius” University in Skopje, P.O. Box 464, MK-1001, Skopje, Republic of North Macedonia




insurance industry, business processes, sales, claims, organization, synergy, efficiency, effectiveness


The insurance industry is mainly based on its primary activity which is exercising the right to claim payment in case of insured case occurrence, arising unexpectedly as a sudden event, not in any way related to the will of the insured. For this purpose, work organization in an insurance company implies application of a complex and well designed system of activities and processes. Each separate process should be functional in both directions. The first one should be directed towards itself, thus providing high quality performance of the planned process activities. The second one is to be focused on its complementary functioning together with the remaining processes included within the insurance business. Clearly defined processes, based on empirical techniques and methods contribute to greater effectiveness and efficacy which result in greater profitability as a final objective in the work of one insurance company. The research in this paper aims to ascertain the impact of improved processes of operational cost reduction and increase of profitability as the ultimate goal.


Nanda, V.: Quality Management System for Product Development Companies, CRC Press, Boca Raton – London New York Washington, DC, 2005.

De Bettignies, H.-C., Lépineux, F., Tan, C. K.: The insurance business and its image in society: Traditional issues and new challenges, ABCM, 2006.

Vaughan, E. J., Vaughan, T. M.: Fundamentals of Risk and Insurance, Wiley, 2013.

Miller, D.: Breaking with tradition in the insurance industry: Strategies to insure operational efficiency and future growth, Business Process Solutions, Executive perspective, OpenTex, 2011.

Rejda, G. E., McNamara, M. J.: Principles of Risk Management and Insurance, Pearson Series in Finance, Twelfth edition, 2013.

Barbir, V.: Čimbenici uspješnosti prodaje usluge osiguranja, Ekonomski pregled, 55 (9–10), pp. 815–839 (2004).

Njegomir, V.: Uloga finansijskih derivata u upravljanju rizikom osiguranja, Računovodstvo, vol. 55 (2011).

Nakić, S.: Menadžment prodaje usluga osiguranja, Putokazi – Interdisciplinarni znanstveno-stručni časopis Sveučilišta Hercegovine, Vol. 1. No. 2., pp. 185–197 (2013).

Anderson, C.: 8 Procedures to Take Control of Sales and Marketing, Research paper, https://www.themanager.org/Strategy/Procedures_3_Sales.htm.

Law on compulsory traffic insurance, Official Gazette of the Republic of Macedonia no.88/05, 70/06, 81/08, 47/11, 135/11, 112/14 and 145/15.

Gjorčeva, V.: Optimization of Processes in Insurance Company in Order of Operational Costs Reduction, Master Theisis (in Macedonian language), Faculty of Mechanical Engineering, UKIM, Skopje, July 2019.