Jasminka Horvat Martinović
Episode · #309
VRIJEME JE ZA GOSPODARSTVO Jasminka Horvat Martinović
Guest Jasminka Horvat MartinovićHosted by Darko BukovićMay 3, 2026
Jasminka Horvat Martinović
About this episode
What you'll hear in this conversation
The insurance industry is often seen as a domain of strict mathematics and actuarial precision, where everything is calculated and predictable. Yet, as Jasminka Horvat Martinović, CEO of Wiener osiguranje, explains, 2020 upended all expectations, forcing an inherently conservative sector to move with unprecedented speed. Her company navigated a year of pandemic and two devastating earthquakes, not just enduring, but making significant market gains — expanding operations, hiring staff, and seizing the second position in the Croatian market. This conversation explores how an organization, when pushed to its limits, discovers a flexibility it never knew it had, demonstrating that extreme pressure can reveal an organization's deepest capabilities and drive unexpected success.
Insights from the conversation
What to take from this episode
01
2020 brought not only the pandemic but also two devastating earthquakes to Croatia, hitting an industry often described as 'conservative' and slow to adapt. Such extreme, unforeseen events force even the most traditional organizations to 'act really fast' and discard established routines, revealing a capacity for rapid adaptation they didn't know they possessed.
02
Wiener osiguranje's initial struggles with remote work, lacking enough laptops and IT infrastructure for all employees in early 2020, were quickly overcome. Despite these resource limitations and initial doubts, the team adapted 'much faster and better than we thought,' proving that necessity can accelerate digital transformation and operational resilience beyond any planned timeline.
03
In 2020, while many companies faced uncertainty, Wiener osiguranje expanded its business, hired new people, and rose to second place in the Croatian insurance market. Instead of 'playing it safe' or maintaining the status quo, the company 'accepted the challenge,' demonstrating that proactive expansion during periods of widespread caution can yield significant market share gains.
04
An 'unofficial internal plan' set before the pandemic aimed for one billion kuna in gross premium, a milestone the company nearly reached, hitting 973 million. Ambitious, even informal, internal targets can become powerful drivers, pushing a team to exceed initial expectations and achieve near-milestone results even when facing unprecedented external challenges.
05
The guest states that in 'every crisis there is a challenge, there is an opportunity' that needs to be recognized. This mindset of actively seeking opportunities within disruption, rather than solely reacting to threats, enables an organization to adapt and grow where others might simply retrench.
06
The shift from traditional 'personal contact' sales, which is still predominant in Croatian insurance, to digital communication channels during the pandemic. While digitalization is accelerating, the future of sales and communication lies in a 'hybrid approach' that combines efficient digital processes with the continued value of human interaction, rather than replacing one with the other entirely.
07
In normal circumstances, people are 'not overly keen on change,' tending to maintain the status quo. The extreme pressure of a crisis bypasses this natural human resistance, forcing an organization to embrace change and adapt with a speed and willingness that would be impossible under stable conditions.
08
Jasminka Horvat Martinović started her career in a 'greenfield operation' at a smaller Croatian insurance company, seeing it built 'from the very beginning.' This early exposure to building a business from scratch, even if accidental, provides a foundational understanding of organizational growth and challenges that shapes an entire career path.
09
Her chosen field, actuarial science, was 'exotic' when she started, with few understanding what actuaries did; the dictionary definition didn't even mention mathematics. Committing to a niche, misunderstood field can position one at the forefront as that field evolves to become a central function, like risk calculation in finance, proving that today's 'exotic' can become tomorrow's essential.