In one of his books, Lebanese-American philosopher Nassim Taleb defines the term “Black Swan” as follows: (1) an unpredictable future event, (2) with serious consequences, which (3) can only be logically explained in retrospect. After the floods in Karlovo, for example, we learned that the causes were uncleaned riverbeds, poorly maintained infrastructure, illegal logging, and extreme rainfall. But before that? If we were aware of these factors, why were so few people there insured?<\/p>\n
In my profession, I have noticed that people often think about their future with crossed fingers, fatalism, and the touching hope that bad things might not happen. However, as we well know, hope is not a strategy. Relying on a lucky star, fate, or something \u201cthat will happen to you without your involvement, that will come to you without your merit, like a reward that falls from the sky,\u201d as summarized by Teodora Dimova, is a poor way to predict the future. For one simple reason.<\/p>\n
Whatever happens, it can always be explained as either “bad” or “good” luck. Whether you’re looking for the love of your life, expecting crypto to rise, waiting for the queen of spades, or still searching for a four-leaf clover (even though the odds are 1 in 10,000), luck is fate, fate is what happens to you, and explaining any outcome\u2014good or bad\u2014as luck is always “correct.” That\u2019s why, whether we win the lottery or not, it’s all about luck\u2014simply because both outcomes are beyond our control.<\/p>\n
Albert Einstein, however, disliked the idea that \u201cGod plays dice with the universe.\u201d I, too, humbly believe that a person should be the subject, not the object, of their own existence, which elegantly brings me to the reason for this open letter.<\/p>\n
For a long time, I have been troubled by a seemingly insignificant fact that, in reality, positions our entire industry \u201cnegatively\u201d and influences the public\u2019s psychological biases.
\nThe root of the Bulgarian word for “insurance” (\u0437\u0430\u0441\u0442\u0440\u0430\u0445\u043e\u0432\u0430\u043d\u0435) is “fear” (\u0441\u0442\u0440\u0430\u0445), which gives the term somewhat dark connotations. Fear. As if we are trying to scare our clients with a \u201cterrifying\u201d future, to shock them rather than reassure them. The psychological context of insurance in Bulgaria is pessimistic\u2014it is essentially presented as a kind of secular indulgence for upcoming disasters. But when you are a pessimist and something bad happens, you experience it twice\u2014once when you worry about it, and again when it actually occurs. Our minds do not like bad news. Anything presented negatively is perceived as a risk and should be avoided.<\/p>\n
In English, however, the root of the word INSURANCE is “SURE,” which means “secure, security.” Do you see how this small change entirely shifts the perspective? FEAR vs. SECURITY. The future is no longer some kind of scarecrow for the gullible but a result of our reasonable and logical actions to secure it. No longer are we “crossing our fingers,” “spitting over our shoulders,” or “knocking on wood”\u2014instead, we take matters into our own hands and can look ahead with more confidence and peace of mind.<\/p>\n
This change may seem insignificant and purely linguistic, but it is not. It alters the perspective, the very psychological context that so negatively colors the approach to our industry. As I mentioned earlier, hope may be a good motivator, but it is not a viable strategy.<\/p>\n
That is why we at DZI propose replacing the Bulgarian word \u0417\u0410-\u0421\u0422\u0420\u0410\u0425-\u041e\u0412\u041a\u0410 (insurance) with the new term \u0417\u0410-\u0421\u0418\u0413\u0423\u0420-\u041e\u0412\u041a\u0410 (a play on words meaning “for security”). Of course, we cannot achieve this alone, and let this letter serve as an invitation for all companies in the industry to join this initiative.<\/p>\n
For our part, I want to state that DZI will begin using the term \u0417\u0410\u0421\u0418\u0413\u0423\u0420\u041e\u0412\u041a\u0410 in all its future communications, promotional materials, and corporate literature\u2014wherever we are not restricted by current legislation and regulatory acts. However, our success will only be complete if we ALL stand behind this initiative together and, for once, put fierce competition aside.<\/p>\n
And let me end with a (semi-)joke. If this idea succeeds, I think it\u2019s high time we tackled the word \u0421\u0415\u0414\u0410\u041b\u0418\u0429\u0415 (headquarters)\u2014this time, not just in favor of our industry but for all industries in Bulgaria.<\/p>\n
See you soon.<\/p>\n
Kosta Cholakov,
\nChief Executive Officer
\nSource: DZI.BG<\/p>\n","protected":false},"excerpt":{"rendered":"
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