PAID - The Pool for Insurance Against Natural Disasters - announces the completion of the project for the complete digitalization of the damage notification, assessment, and compensation calculation process for homeowners affected by calamities.

As part of the disaster management strategy, the digital application was developed to handle scenarios of widespread natural disasters at the national level, providing the insurance industry with the capability to process and resolve a large number of compensation claims in a short time.

The new digital infrastructure was presented at PAID's headquarters, attended by representatives of the Financial Supervisory Authority and the insurance market.

"The inauguration of this fully digitalized infrastructure is a new stage in our vision to build the highest possible level of collective preparedness for a major natural disaster.

For 15 years, we have been striving to increase insurance coverage for as many homeowners in Romania as possible.

Financial education of the population is a long-term process. However, it is our duty, as an industry, to guarantee every insured person that we have the resources and tools to cope with the economic aftermath of a natural disaster.

PAID has the largest reinsurance program in Central and Eastern Europe, worth 1.3 billion euros starting from July, which guarantees our financial capacity to provide compensation.

Today we can say that we have new mechanisms for effectively managing the entire process in an even more efficient way," said Nicoleta Radu, CEO of PAID. (Photo: PAID)