Generali Group is one of the leading insurers in the world, with an extensive line of products in the Life and Property & Casualty segments to meet all the clients’ needs. It operates in the insurance sector with a multi-channel distribution strategy through a global proprietary sales network of agents and financial advisors, supported by brokers, bancassurance and direct channels.
In the Life segment, its offer ranges from savings and family protection policies to unit-linked policies and complex plans for multinationals. In the P&C segment, its range goes from mass-market coverage such as Car, Home, Accident & Health, to sophisticated commercial and industrial risk coverage.
The Group is committed to achieving the optimal client segmentation and enhancing product innovation in order to deliver a targeted approach to clients.
Generali participated in the Pilot Programme promoted by the IIRC from 2012 to 2014. It has then joined the <IR> Business Network since September 2014 and launched the <IR> Insurance Network. Generali has decided to take the new approach to corporate reporting since it represents an innovative and effective way to communicate the Group’s ability to create value in a sustainable manner over time.
Key benefits related to <IR>
Like many first-time integrated reporters, Generali’s primary benefit thus far is better collaboration internally. More departments are involved in reporting and performance management. For instance, human resources are now involved in tying key performance indicators for management to reporting.
Generali has also received feedback from investors that the company’s disclosure has improved with its move to <IR>. The company believes that this is because <IR> is strategy driven, so the format makes a company’s strategy clearer.
On March 2016 Generali published its third Annual Integrated Report on its website that can be seen here. The report was prepared and presented in response to both the International <IR> Framework and the existing compliance requirements.
Generali also issued an interactive version of its Report on its website: it is a tool highlighting the connectivity of information that can be viewed here.
To view the case study on the start of Generali’s journey to <IR> see page 18 of ‘The Integrated Reporting journey: the inside story’.