Strategic management is a complex process that has evolved over time through various phases of strategic planning and decision making. The strategic management process involves a series of complex activities that require considerable effort from both management and employees. Strategic managers in their companies face three main questions: The first of them "Where are we now?" determines the current position in which the company is, or what is the market position, how the products and services appealing to customers, what are the strengths and weaknesses and what is the current measure of company performance. The second question "Where we want to go?" is aimed at increasing business and financial results in the coming years the direction in which management believes that the company should go. And the third question "How do we get there?" is exactly what refers to the strategic process of planning, developing and implementing strategies that will lead the company exactly in the position in which it wants to be. In order for companies to be as successful and prosperous as possible in their areas of activity, they need a methodological approach to developing a strategic plan. The strategic plan will indicate management decisions on how the company will attract and please customers, how to respond to changing market conditions, it will increase business, that will compete successfully, how to develop the necessary skills, or how to achieve the results. Each company has the opportunity to develop a strategy and a strategic plan that fits its market situation and that differs from the competitors, because the same type strategy of the same industry are the exception rather than the rule. This thesis presents the process and implementation of strategic decision-making in a complex system such as the insurance company, and all the challenges faced by management as the holder of that process.