Products with particular social value

Insurance products, by their very nature, have a social value as they respond to the welfare and protection needs of clients: in this context, insurance products linked to socio-demographic changes and the gradual reduction in public services are of particular importance.

In 2012, products with particular social value amounting to over 1,130 million euros were distributed, an increase of almost 23% over the previous year (for the Czech Republic, the figure includes Cˇeská Pojišt'ovna data only).
The following are the most significant insurance policy types:

Dread Disease Policies:

  • products with a high social insurance content that involve the payment of a lump sum or annuity upon the occurrence of one of the serious illnesses covered by the policy to cover the cost of care and loss of income resulting from the inability to work.

In Italy, Assicurazioni Generali introduced a safeguard clause into these contracts which, in the event of job loss, separation or divorce, allows the policyholder to request a special interest-free loan equal to a single annuity premium, thereby protecting the plan and its guarantees.

Long Term Care Policies:

  • policies that involve the payment of a lump sum or annuity to cover the cost of assistance in the event of the loss of self-sufficiency and the inability to perform daily tasks, which may simply be the result of old age.

Policies that respond to the needs of specific categories:

  • products for young people, which include accumulation plans that can be integrated with various types of insurance cover and financial protection in the event of the premature death of a parent, the waiving of service costs for the first two years of the policy to encourage the under 40s to invest in supplementary pension schemes, and capital appreciation based on academic merit and loyalty;
  • products for the elderly, targeting the specific needs of people over the age of 50;
  • products for couples which, responding to the needs of a changing society, also focus on non-traditional family arrangements;
  • products for the disabled, including roadside assistance for drivers of adapted vehicles and the possibility to extend household insurance policies to cover home automation systems;
  • products for immigrants which, in case of death, provide for the reimbursement of all expenses related to the event, including the repatriation of the deceased;
  • products for the unemployed which cover existing loan or mortgage repayments for a few months;
  • occupational disability insurance policies for young entrepreneurs;
  • liability insurance policies for those engaged in voluntary activities.

Policies that reward the virtuous conduct of the policyholder:

  • products that encourage the adoption of healthy lifestyles, such as life insurance policies with reduced premiums for non-smokers and/or the application of a higher premium for smokers, or products that provide an assessment of the risk of obesity by calculating the policyholder's Body Mass Index;
  • motor insurance products aimed at promoting careful and responsible driving in order to reduce accidents, such as policies combined with the installation of a black box which reward responsible driving and protect policyholders through telemobility;
  • car insurance policies which, to encourage respect for the rules of the road, include contractual terms that provide for limitations on insurance benefits in the event of the non-use of seat belts or driving while under the influence of alcohol or drugs. Other policies discourage alcohol consumption by providing for the revocation of the initial discount applied or the application of an excess in the event that the policyholder drives while intoxicated.

Healthcare policies:

  • health insurance policies that provide for regular physical check-ups to prevent the most common illnesses and promote health protection. In some cases, to meet the requirements of people/families in need, measures have been introduced that allow unemployed workers to stop paying health insurance premiums for a few months and still maintain their cover;
  • policies aimed at women that include prevention programmes with a complete check-up every two years and a range of support services in the event of accident or illness;
  • policies that provide broader insurance coverage including the reimbursement of medical expenses incurred for holistic therapies.

In 2012, in order to make an innovative contribution in the context of the difficult economic situation, Europ Assistance Spain launched a product for job seekers offering a range of services, including assistance in CV preparation, coaching sessions and contact with headhunters seeking qualified candidates based on specific customer requirements.

The Group's banking products include accounts for certain not-for-profit associations which are highly accessible, secure and customisable and offer reduced financial terms and simplified management methods.


Nearly 218,000 people insuredMicroinsurance
In order to contribute to the social and economic development of the poorest members of society and to provide access to insurance products to those who would otherwise be excluded from the market, the Generali Group has developed microinsurance projects in some countries that do not fall within the scope of the Sustainability Report.

The Americas
In Brazil, the Proteçäo Premiada initiative was launched in 2012 to sell life products via SMS, targeting low income earners; in case of accidental death, these policies cover related expenses and, in particular, provide comprehensive assistance in the event that the policyholder is a victim of crime. In 2012, 11,242 people were covered by this product. In Colombia, a life insurance product aimed at female small entrepreneurs was launched, which also covers partial and total disability and, in case of death, all related expenses. In 2012, 72,250 women subscribed to this policy. In Guatemala, a life and accident insurance policy is currently being rolled out with the assistance of Fundea, a microcredit cooperative. In 2012, 30,410 people took out individual policies.

In India, established in support of the UN Millennium Development Goals, the Generali Millennium project continued with the aim of emancipating from poverty the poorest sections of the Indian population. The project is being developed along two lines: financial support for microbusinesses, especially favouring Dalit women, and the definition of microinsurance plans sold through its subsidiary, Future Generali India Insurance Company Ltd. In relation to the latter, agreements have already been signed with BWDA Finance Limited, a leading microfinance institution based in Tamil Nadu; Swabhimaan, a social business that provides products, services and benefits of various types to the poorest sections throughout the country (which can be purchased online using a prepaid card); and Swasth India, a social business that operates health centres in the slums of Mumbai. To these, an additional two initiatives were added in 2012: the first, with Growing Opportunity Finance Ltd, a microfinance institution based in Tamil Nadu, is aimed at individuals and families in the poorest sections of society, offering products to cover hospitalization costs as a result of illness and accident; the second, developed in conjunction with IFMR Rural Finance and Services, a microcredit institution that provides financial services targeted at lowincome individuals and entrepreneurs, is aimed at artisans, small shopkeepers and farmers, with policies covering the risks that could cause damage to the work environment, products and equipment. Overall, the number of individuals insured under the aforementioned agreements of the Generali Millennium project exceeds 103,000 units. In 2012, Future Generali also launched Future Sampoorna Suraksha, a microinsurance product developed for the specific needs of people living in rural and peri-urban areas. The policy includes safeguards to cover the costs of hospitalization, accidents, buildings and contents, (agricultural equipment, bicycles, etc.). In just a few months, 354 people have taken out this insurance policy.