Generali Italia enters the capital of YOLO Group, the first Italian insurtech in the sector of conception, design and implementation of platforms for the marketing of digital insurance products, expanding a shareholding structure which includes, among others, Neva SGR and Intesa San Paolo Vita, lead investor in previous funding rounds. The operation provides for an investment of 2,5 million euros on August 4 to enter with 10,8% in the capital and aims to gradually reach 18% by 2022.
An investment, that of Generali Italia, aimed at expand the distribution model of Genertel. In fact, the operation follows the collaboration already started a few months ago with Genertel, the insurance company of Generali Italia founded in 1994 which today is among the first direct insurance companies in Italy. Furthermore Genertel, together with YOLO Srl, will expand its distribution model being able to make use of partners present in new sectors such as telco and utilities, offering its own insurance policies through a digital platform complete with on-demand and traditional products, which combines experience and reliability of the Company to the technological platform of YOLO Group.
“As Life Partners, we strongly believe in the importance of innovating also through synergies with important players such as YOLO Group, to guarantee an insurance offer that satisfies people's new needs. Intercepting customers' needs, anticipating their expectations and designing new insurance solutions and new ways of using them is a challenge that fascinates us day after day", they declared Marco Sesana, Country Manager & CEO of Generali Italia and Global Business Lines and David Cis, Chief Operating Officer of Generali Italia. “In YOLO Group we have found a solid and innovative partner and we are sure that together we will be able to work better”.
