In this paper, the authors comprehensively and concisely discuss the possibilities of applying ICT in the business of insurance companies in Serbia and point out the impact of ICT on organization and performance. In their work, the authors use the primary data they have gathered by talking to representatives of insurance companies in Serbia at various levels as well as secondary data that can be obtained from official reports and planning documents of insurance companies in Serbia and the Association of Insurers of Serbia. The authors of the current manifesto show the time course of ICT implementation in the six largest insurance companies in Serbia by market share, and further on, represent an ideal model for the application of ICT in an insurance company using the Porter value chain model. At the end of the work, the authors conclude that there are aspects in which the application of ICT can affect the organization and performance of insurance companies in Serbia.