We are regularly involved in advocacy activities, through which we promote and support the requests of our Group and sector in a transparent manner and with respect for the general interest and the common good.
We hold regular talks with legislators and the European institutions maintaining a constructive working relationship, sharing and updating the information necessary for the proper interpretation and application of new regulations.
We also offer our expertise and contribute to public consultations to define new legal measures and industry regulations by providing concrete indications based on our own experience. At a local level, we actively participate in research and debate on specific national issues, such as the natural disasters one in Italy.
We work with several organizations and industry associations, including The Geneva Association and the European Financial Services Round Table (EFR), with which we have signed important statements of intent on environmental matters, favouring an in-depth analysis of the various regulatory issues and their potential impact.
We contribute to the European debate and we closely follow the evolution of the regulatory framework.
One of the most important developments is that relating to the new solvency regime - known as Solvency II - which came into effect on 1 January 2016. The new regime, in relation to which stakeholders and institutions have been in constant dialogue since 2002, involves the comprehensive reform of the European supervisory system, including a significant review of the quantitative and qualitative approach. The objectives of Solvency II are the protection of policyholders and the definition of solvency measures that reflect the risks to which the insurer is exposed by introducing a risk management culture, which will fundamentally change our industry in Europe.
We are actively monitoring the development of individual pension plans, which will play an increasingly important role in the future of the European welfare system, considering the pressures on state pension schemes and the lack of efficient corporate retirement plans in some countries. In this context, the European Commission has requested the European Insurance and Occupational Pensions Authority (EIOPA) to perform a study on a possible simplified, low-cost retirement plan with a European certificate which will allow for cross-border portability.
We are also closely following the ongoing reforms at a European level in relation to the distribution of insurance products, including the new Directive on insurance distribution and the Regulation on key information documents for packaged retail and insurance-based investment products (PRIIPs), in view of the new requirements to be introduced in relation to customer reporting, product development and control, and organizational and professional requirements for companies and distributors.
In recent years, we have also followed negotiations on the new European Regulation on data protection, culminating in the political agreement reached by the European institutions on 15 December 2015. This new Regulation will introduce more stringent rules for the protection of the privacy of European citizens from 2018, a necessity dictated by the continuous development of the concept of data protection, mainly linked to technological progress. We will continue to monitor regulatory developments involving a number of measures of direct interest for the insurance sector and we are committed to fully implementing the new regulatory principles affecting aspects that relate to our business activities.
Assistance after accidents
In Italy, Generali plays a particularly active role in the Psychological support for victims of road accidents project launched by the Foundation of Associazione Nazionale fra le Imprese Assicuratrici (ANIA) in October 2014. This three-year initiative seeks to provide a psychological support service for the victims of major accidents and their relatives, also with the aim of reducing the number of disputes in this sector. The project’s scientific Committee is made up of leading Italian and international experts in trauma psychology, while the other bodies set up to provide the various activities comprise trauma doctors, emergency psychologists, representatives of the insurance sector with experience in the settlement of major personal injury claims, and representatives of road victim organisations. We operate within the insurance group, and we are engaged in defining guidelines to help companies manage these tragic events. The objective is to create a specific manual that will constitute the reference text of the new operating model. We have contributed to the first phase of the project by reporting several specific cases and sharing our knowledge and intervention methods used.
Raising awareness to prevent
According to the World Health Organization (WHO), road accidents are the leading cause of death among young people. That is why in 2015, our company in Argentina, La Caja, together with UCES University and the road safety association, Asociación Civil Alerta Vial, conducted research to identify the habits of young people in relation to drinking and driving. The research results will be used in 2016 to train school teachers so they can introduce the subject into the school curriculum. The initiative to raise awareness has also been publicised as part of a press campaign.
In the Czech Republic, the Vymoly project has been recognized by the Ministry of Transport as a project of social interest. The project consists of the continuous monitoring of potholes in order to make them safe and for maintenance workers or rather regional administrations to repair the road surface. Public reports are shared on the web where you can find:
- a database kept up to date with pothole information
- information on roads in a critical condition
- photos and videos of particularly dangerous stretches of road, with the ability to evaluate them and update their state of disrepair
- information on the risks and damage that could be caused by uneven road surfaces
- tips and advice on how to proceed and whom to contact if your vehicle is damaged
- interviews with representatives of the competent authorities. The project has also been extended to Slovakia and Hungary
In France, we have supported Entrepreneurs d'avenir - Les pionnieres d'une économie plus humaine since 2008, whose purpose is to promote a new model for business and society where overall performance and competitiveness are linked with individual responsibility, well-being in the workplace and with ethical, social and environmental standards. The programme includes a charter of values of future entrepreneurs and a Parlement des Entrepreneurs d’avenir with 800 entrepreneurs already listed as members. The Parlement meets every two years to share experiences and ideas, and to plan future activities. In 2015, on the occasion of COP21, the fourth edition of the Parliament was held, entitled Faisons changer tous les climats!, during which the issue of climate change was addressed from a political, economic and social perspective.