An article from the Nextdeal newspaper (Issue 581), currently on newsstands

By Elina Papaspyropoulou, Director General of the Hellenic Association of Insurance Companies

Insurance is one of the fundamental pillars of stability in any modern economy and society. At its core lies a simple yet essential promise: to support citizens and businesses when the unexpected occurs— by managing risks, compensating losses, and ensuring the continuity of economic and social activity.

In Greece, the insurance market fulfills this role every day in a tangible and measurable way, paying approximately €3.7 billion in claims annually. This translates into more than €10 million flowing back into society every day, reaching families and businesses precisely when they need it most. Behind these figures are real stories: individuals rebuilding their lives, businesses that continue operating, and activities returning to normal.

However, the contribution of insurance extends far beyond the payment of claims. As an industry, we recognize our broader and ongoing responsibility to society. This responsibility is not merely theoretical — it is reflected in concrete initiatives that build trust, promote prevention, and strengthen societal resilience. Based on this strategy Guided by this strategic approach, the Hellenic Association of Insurance Companies plans and carries out designs and implements its work.

Strengthening the relationship between insurance and society is a key priority, with a focus on improving awareness of insurance’s role and fostering public trust. In this context, we engage directly with citizens and actively promote insurance awareness. Through targeted campaigns, a strengthened digital presence, and—after many years—a renewed presence on television, we communicate clearly and simply why insurance matters to everyone. It is not just a financial transaction or an expense, but a vital protection mechanism that enhances protection against the unexpected.

At the same time, engaging younger generations remains a strategic priority. We aim to help young people understand how insurance helps them protect what they build and plan their future with greater confidence, while also raising awareness of the career opportunities the sector offers.

Furthermore, through educational programs and financial literacy initiatives, we cultivate informed and responsible citizens—individuals who understand risk, the value of prevention, and the importance of long-term planning.

Furthermore, through educational programmes and financial literacy initiatives, we foster informed and responsible citizens who understand risk, appreciate the value of prevention and the importance of long-term planning.

Road safety and the prevention of traffic accidents also feature prominently in our work. This is an issue that concerns us all, as the loss of human life on the roads is unacceptable. We collaborate with the Hellenic Police on awareness campaigns and, over the past three years, have consistently supported traffic police operations through the donation of breathalysers. We believe in the value power of collaboration and remain ready to contribute to the development of a national road safety strategy.

This holistic approach reflects how we see our role: not only as a compensation provider of, but as an active partner in prevention, awareness, and the strengthening of social resilience.

Ultimately, insurance is not just about managing the next loss. It is about enabling society to move forward with greater confidence, knowing it has the tools to effectively face the unexpected. It is about empowering society to move forward with confidence, equipped to effectively respond to the unexpected.

Read the article below from the Nextdeal newspaper (Issue 581), which is also available online (click the bottom right corner to enlarge)