With the aim of “pushing the boundaries” of what is possible with insurance, Generali has announced that it is looking for the next big insurtech.
During the upcoming Insurtech Insights – one of Europe’s largest insurtech conferences, to be held in London on March 1-2, 2023 – Generali will be organising and sponsoring the Insurtech Insights Startup Showcase. The competition event allows early-stage startups to present their solutions to a panel of insurers and investors. Those who win the contest will be given the chance to develop a pilot of their solution with Generali.
“Generali is a customer-focused innovator thanks to the use of data and new technologies. Insurtech allows us to push the boundaries of what was previously possible, building future-ready business models,” said Generali Group chief transformation officer Bruno Scaroni.
Scaroni added that Generali had also been working hard on expanding its expertise to inspire new insurance technology projects, through initiatives such as its “Innovation Fund.”
“Our strategy is the right way ensure that the group will continue to lead the way in the industry by increasing customer value through our Lifetime Partner advisory model,” the CTO mentioned.
In a release, Generali also stated that in addition to its sponsorship of an insurtech competition, it is among the nominees for the Ambitious Insurer Awards, which recognise the most ambitious and innovative projects in the insurance space. Specifically, two Generali initiatives were nominated for the awards: bAIby, an AI technology co-developed by Generali Jeniot and HITS (House of InsurTech Switzerland) designed to translate the cries of infants to inform parents of their needs; and Innovation Champions, a programme developed by the Generali Group Innovation Team to create a global network of innovation experts.
For its 9M 2022 results, Generali saw its gross written premiums increase 1.3% to €59.8 billion (approx. £52.48 billion). This was driven by growth in the company’s P&C business, which saw a 10.3% year-on-year increase.
