Insurance industry is continuously evolving, as well as our customers’ needs and dreams. Our culture drives the strategy.
Our purpose, “enable people to shape a safer and more sustainable future by caring for their lives and dreams”, is the reason why we exist, and it inspires and motivates us. We have always driven our efforts with the intention to improve people’s lives. In an increasingly complex world, our ability to care and help people by offering innovative, personalized solutions will enable them to take decisions and shape a safer future for themselves, their loved ones, their business, their communities.
Led by our purpose, last year we launched the new strategic plan Lifetime Partner 24: Driving Growth, based on five key pillars:
- drive sustainable growth,
- enhance earnings profile,
- lead innovation,
- delivering positive social, environmental, and stakeholder impact,
- engage people as a core asset to successfully deliver the new plan.
The insurance industry is at the crossroads of some major contemporary issues: pandemics and extreme events; climate changes; geopolitical and financial instability; the digital revolution and cybersecurity; demographic ageing and new welfare systems. These are the challenges we face every day, in order to continue to offer our clients new and increasingly customized protection models.
In line with our purpose, we have undertaken initiatives and projects that demonstrate our concrete commitment.
Sustainability and Real economy
In 2021, on the occasion of the 190° anniversary of Assicurazioni Generali, founded in Trieste in 1831, we launched Fenice 190, a EUR 35 billion investment plan. In line with the 17 Sustainable Development goals, promoted by the United Nations 2030 Agenda, the plan aims to support to support the recovery of European economy affected by the Covid-19.
In the Lifetime Partner 24: Driving Growth plan, sustainability is present as an inspiring principle. For Generali, which is committed to being a responsible investor and insurer, a key point of reference is the Group's climate change Strategy, updated in June 2022, which provides an overview of the decisions taken to facilitate a fast and socially equitable transition to a net-zero economy. In 2019 we issued our first Green Bond: an important step for the Group towards achieving its environmental sustainability goals, the progress of which is also recognized by Generali's inclusion in the Dow Jones Sustainability Europe Index and Dow Jones Sustainability World Index.
Moreover, for the past two years we have promoted a culture of sustainability among the European SME with SME EnterPRIZE, an initiative dedicated to small and medium businesses in the continent with the aim of encouraging them to adopt sustainable business models and give visibility to those who have already done so, so they can be an example for other entrepreneurs.
Innovation and Digital transformation
We have a clean vision of Generali in 2024, an innovative Group focused on clients and the use of data to lead innovation. Thanks to a network of more than 165.000 agents, supporting by cutting-edge technology, personalized insurance products, interconnected devices and digital platforms, we want to be Lifetime Partner of our clients.
For Generali this means, first and foremost, expanding its digital consulting capabilities and establishing an omnichannel approach across all distribution channels, ensuring maximum security through dedicated programs such as the current Cyber Security Transformation Program 2, 2020-2022 and a responsible use of data and algorithms to deserve full digital trust from customers.
The Lifetime Partner 24: Driving Growth plan also includes investments in technology and digitalization that focus on the potential of data totaling € 1.1 billion, an increase of 60% compared to the last strategic cycle. Added to this is a new € 250 million venture capital fund focused on insurtech, to seize high-potential opportunities on the market, and the continuation of the Group Innovation Fund initiative, launched in 2020 to co-finance ideas generated by Generali people and aimed at accelerating innovation.
Alongside the people, to live the community
Without the contribution of our people we would not be able to achieve our goals. This is the reason why we have developed a new Group People Strategy: "GPeople 24 - Ready for the Next", with the aim of enabling them to realise their full potential by ensuring a work environment that values diversity, ensures equal opportunities and promotes inclusion, in line with the priorities of our DEI (diversity, equity and inclusion) strategy.
Aware of long-term social and demographic trends influencing people's lives, in 2017 we also launched The Human Safety Net, a global initiative active in more than 20 countries in Europe, Asia and South America, extending our purpose to the most vulnerable in our communities. A movement of people helping other people, particularly supporting vulnerable families with young children and the inclusion of refugees through employment and entrepreneurship, so that they can improve their own lives and those of their communities.
The way we work: Values and Behaviours
Our Generali Values describe what is important for us and we stick to them, no matter what.
Deliver on the promise
We tie a long-term contract of mutual trust with our people, clients and stakeholders; all of our work is about improving the lives of our clients.
We commit with discipline and integrity to bringing this promise to life and making an impact within a long lasting relationship.
Value our people
We value our people, encourage diversity and invest in continuous learning and growth by creating a transparent, cohesive and accessible working environment. Developing our people will ensure our company’s long term future.
Live the community
We are proud to belong to a global Group with strong, sustainable and long lasting relationships in every market in which we operate. Our markets are our homes.
We are curious, approachable and empowered people with open and diverse mindsets who want to look at things from a different perspective.
Our behaviours describe how we all want to do things and complete our tasks every day, they are our way of doing that makes us different from the rest. They are our commitment, as a community and as individuals. They are the way we want to measure how we achieve results.
- OWNERSHIP: act with proactivity and passion for excellent performance
- SIMPLIFICATION: make things simple, adapt quickly and take smart decisions
- HUMAN TOUCH: partner with others, showing empathy and team spirit
- INNOVATION: embrace differences to make innovation happen
OUR CODE OF CONDUCT
The Generali Code of Conduct is our guide to doing the right thing. Our Code sets ethical expectations of everybody working for, or on behalf of, Generali all around the world. You can download a copy of our Code in the language of any of the countries in which we operate here.
Having a common set of Values and clear ethical expectations in our Code helps us to make choices in a consistent way and enables our workplace to continue to be an environment where frankness, openness and candour can be relied upon. When anyone is faced with an ethical dilemma, our Values and our Code will guide them.
Our managers are expected to be role models for our Code and to make their teams feel comfortable asking questions about whether certain behaviour or business proposals are in line with our Values and the principles of our Code. In addition, online and instructor led training programmes coupled with a comprehensive communications programme ensure that all our employees are fully aware of the importance of our code and their responsibilities to speak up if they have any concerns.
Everyone is encouraged to voice concerns or ask for clarification on any aspect of our Code. To facilitate this we have both local and group level reporting channels available for people to report any concerns in all of the countries we operate in. Confidentiality is guaranteed and we have zero tolerance for any form of retaliation.