Honesty With the Customer Is Essential: Interview With Kiril Petrov From GrECo Bulgaria

Dauksa: How did you start your Transport and logistics insurance career, and what attracted you to this field?
 
Petrov: I graduated from university with an insurance degree in 1998. Since then, I’ve spent 20 years writing motor business lines like Casco and MPTL. Then, Hristo Charkov introduced me to a new challenge which changed my career: bringing a nontypical Bulgarian insurance product to the local market. The local Bulgarian market can be conservative. I found it interesting infusing fresh ideas from Europe into the Bulgarian market. 

 
Dauksa: What’s the most significant lesson you’ve learned in your career?

Petrov: Let’s admit it, Bulgaria is not a huge market. Honesty with the customer is essential, whether it involves an offer or claim settlement. This brings true value to the customer, which they appreciate no matter what the message. 

Dauksa: In your opinion, what are the biggest risks facing the transport and logistics industry today?

Petrov: In my opinion, the most significant risk for road transport companies is the war in Ukraine. Expenses such as road tolls or fuel prices have increased. Many companies also face tougher competition from Ukrainian haulers.
 
The situation in the Red Sea is also a problem for sea-going shipments. It’s hard to believe that a small group of rebels and pirates can impact logistics globally. 

Dauksa: Can you share an example of how you’ve helped a client mitigate risks in their transport operations?

Petrov: It’s not just about one client. We, as GrECo, are proud to hold many workshops and webinars for transport companies, where we discuss the CMR convention and transport orders in detail. We also advise the customer on the advantages and disadvantages of specific terms and help them improve their transport contracts. If a claim happens everybody checks the transport order, and it is complied.
 
 
Dauksa: What’s the best advice you’ve ever received and why?

Petrov: It’s a quote that I read in the Financial Times rather than advice: Live without fear and without favourite. This is the principle which I try to follow in my life. 


Dauksa: If you weren’t working in your current field, what profession would you like to explore and why?

Petrov: My hobby is my cherry garden. I have about 60 trees, and I tend the trees during my holidays. I would probably do this, if not insurance.