Sustainability and innovation in our products

All insurance products, almost by definition, have a social function. However, some products are specifically designed to respond to a number of requirements that are particularly relevant in this regard.

They include:

  • the Dread Disease and Long Term Care policies, which involve the payment of a lump sum or annuity in the event of serious illness or to cover the costs of care as a result of the loss of self-sufficiency;
  • policies that meet the needs of specific categories of clients, such as young people, the elderly, the disabled, immigrants, the unemployed, young business owners and people involved in volunteer activities;
  • policies that reward or penalise clients based on their behaviour in relation to specific risks;
  • policies associated with medical prevention, such as those that set regular check-ups as incentives for health protection.

To encourage the adoption of environmentally friendly behaviour, we design and distribute products and services with a particular environmental value.

The following products have particular environmental value for companies:

  • third-party liability policies for pollution covering the reimbursement of costs for emergency or temporary measures to prevent or limit compensable damages;
  • policies for financial losses as a result of pollution damage;
  • policies covering equipment for the production of renewable energy;
  • discounted prices to companies that are certified under EMAS and ISO14001.

In addition, we also distribute:

  • motor third-party liability policies that provide discounts to clients insuring “green” vehicles or for those that anticipate low annual mileage;
  • insurance policies covering equipment for the production of renewable energy to cover weather damage to solar or photovoltaic panels or similar equipment. Such policies may be expanded to include cover for lost profit deriving from interruption or reduction in the production of electricity;
  • insurance policies covering catastrophic damages caused by natural disasters;
  • consulting provided to clients to identify any opportunities to optimise the energy consumption in their homes.

In the insurance sector, it is essential to gather and select client information in order to offer competitive products that are tailored to their needs. Therefore, in all countries in which we operate, we guarantee the security and protection of personal data collected under European law, and we process them fairly and with respect. We believe that proper information management can be a competitive advantage that may encourage customers to choose Generali over our competitors and to protect our reputation and improve our image.

For health and pension

In 2014, in Italy, following several surveys on the needs of the insured, the following have been developed:

  • life products which, in addition to being associated with medical prevention through regular check-ups, can provide specific services to beneficiaries and the payment of an advance of up to 10,000 euro within two business days (Genertellife);
  • pension plans which, in the event of the loss of self-sufficiency in the accumulation phase, automatically pay the member, in accordance with the payment received, an annuity of 3,000 euro per year and a 30% increase in the retirement annuity (Generali Italia).

Microinsurance for development

To expand access to insurance protection, the Generali Group has developed microinsurance projects in a number of countries.

In Guatemala, a life and accident insurance policy is being distributed, produced with the assistance of Fundea, a microcredit cooperative. In 2014, 29,220 individual policies were subscribed.

In India, in recent years, agreements have been reached with leading microfinance institutions, NGOs and cooperatives (IFMR Rural Channel & Services, Satin Credit Care & Network, ESAF Microfinance, Muthoot Fincorp, Cashpor Microcredit, United Telecom Ltd, Arohan Financial Services, Bullock Carts Workers Development Association and Growing Opportunity) which operate in rural areas, providing health coverage, accident insurance and livestock insurance policies to a large number of people on low incomes. In 2014, over 600,000 people were insured.

Integrating sustainability into insurance business operations

At the end of 2013, the German CSR Committee decided to focus on integrating sustainability into everyday business operations. A working group was established, led by representatives of the Committee and composed of the heads of product development of the four major German companies. During the different workshops held in 2014, the group focused on the main sustainability aspects that characterise both the product and insurance companies. The aim of the project was to obtain a common reference framework and uniform definitions, and to implement a system for comparing and measuring sustainability performance.

In defining the criteria to be used, the group mainly considered products (customer loyalty, possible partners for sustainable development, partnerships, client-centred products), processes (resource consumption, complaints management, employee development, quality management), transparency (product quality, availability of information, clarity of information, satisfaction of customers and agents), consulting (employee development, consulting methods, advice geared towards needs and prevention), risk management (stability of premiums, control of the client portfolio structure, risk-taking). Each company was given a score, which is updated annually, to promote consistent performance comparison, in order to share best practices and identify areas for improvement.

Telematics meets insurance


The project aims to combine telematics technologies with insurance products, resulting in a virtuous incentive mechanism. The automotive sector is typically suited to this, where the installation of tools like a black box can encourage more responsible driving among drivers, helping to reduce the number of accidents and road deaths.

Telematics solutions can also reduce the cost of insurance for clients who adopt safe driving practices, even if they belong to high risk bands. The resulting social impact includes less traffic congestion and the reduction in fuel consumption and greenhouse gas emissions.

Thanks to the vehicle tracking feature, the likelihood of recovering stolen vehicles is increased. Moreover, it allows us to intervene quickly at the site of an accident, providing an additional service to the client.

The ability to precisely reconstruct the accident also allows us to make a better assessment of damages and effectively combat fraud.

Aware of the impact that these solutions can have on our business activity as insurers as well as on our clients, we have been focusing on this project since 2010 in Italy, the most developed market after the United States.

In particular, we have pioneered solutions in the Italian and Spanish markets, where we launched Quality Driver in 2011 and Pago Como Conduzco in 2013, respectively. The Group’s products that currently use this type of technology are:

  • GPS satellite protection, which provides an immediate discount for the client (Italy);
  • Pay As You Drive, which configures the premium based on planned mileage (Italy);
  • Pay How You Drive, which allows clients to obtain a discount on their policy renewal based on their driving behaviour during the year (Italy and Spain).