Alleanza, the insurance company of the Generali Italia group founded in Genoa in 1898, closes a record 2018, with production growing by 10% to 2,4 billion, better than the sector which, according to ANIA data updated in November, is stuck at 3,1%: "In just a few years we have gone from ninth to fifth position among Italian Life companies", he said the managing director Davide Passero, interviewed by FIRST online on the sidelines of the Genoese Convention, on the occasion of which the new innovative model based on value consultancy and the coexistence between the "human touch and digital technology" was launched. The great peculiarity of Alleanza is precisely this: born on the popular English model and widespread throughout the territory with 15 consultants and 1.200 operating points, it is however also the first insurance network in Europe in terms of digitisation: "You cannot remain outside the digital evolution. Those who adopt technological tools acquire a great competitive advantage, but our strength lies in our consultants and we will also continue to focus on people, as demonstrated by our 900-hiring plan over the next four years".
Dr. Passero, what do you mean by innovation in insurance and how do you reconcile it with the traditional business?
“Ours is a model of sustainable growth, which is articulated in two fundamental concepts: the transition from analogue to digital, but also the innovation of the products themselves, adding new and hybrid products alongside the traditional ones. The real challenge is not to limit oneself to bringing the analogical activity into digital and also not to bet everything and only on digital. We must consider that new players want to enter the insurance business and that we can never be like them. However, we will be able to compete with these new players and consider ourselves an 'Amazon with legs', which means combining 'high tech and high touch', i.e. digital tools and personal relationships, in a single style, providing valuable consultancy. This is the essence of Stile Alleanza”.
You have consultants throughout the country but how is the role of the insurance agent changing and how will it survive the digital revolution?
“The consultant's role is destined to change and we are already dealing with this transition with the Generazione Alleanza programme, aimed at training young people, which has already led to the inclusion of 1.300 people with the new required skills. Furthermore, in the last year alone we have provided one million hours of training. Technology is not an obstacle but rather an enabler of relationships. Our agents can now go to customers equipped with a tablet, through which they can illustrate the products more clearly and manage the case faster, gaining efficiency and time to dedicate to customers. In addition, technology allows you to expand the boundaries of the company's business itself. As we always like to remind you as a Group, it is about building a new way of relating, becoming a 'life partner' of customers. And let me say that this is working: we have been growing for four consecutive years and we have 94% customer loyalty, with the satisfaction rate reaching 2018% in 22, a very significant percentage for the sector".
Among the new drivers on which you are aiming there is certainly that of Protection Health. Last year you launched a new ad hoc product, which is all the rage. Is that the direction the market is heading?
“We don't just look at a driver, but health is certainly one of those we look at the most, because it responds to a real social need. Italians, as is known, are largely underinsured with respect to their health: we have an excellent national health service, but despite this, Italian private health expenditure is 40 billion euros every year, with a very low percentage covered. In 2018 we launched 'Semplice come Alleanza', which with a few tens of euros a month covers customers from all those unforeseen events related to physical injuries or specialist visits. Proving the social necessity, we have already signed up with 30.000 customers for total premiums of 12 million and are still traveling at an average of 5.000 new contracts per month. We are satisfied but not satisfied because there is room to do even better. We want to make this kind of solution popular.”
It won't be difficult, given that a basic contract costs just 15 euros per month.
"Exact. It costs a little more than a Netflix subscription and about half of a Sky subscription, which are two very popular products. We also want 'Simple as Alliance' to become so. Another important aspect, in addition to accessibility, is the certainty of compensation: it is usually very long and complicated to obtain reimbursement of expenses, but in this case the procedure is clearly established in the contract, depending on the solution offered".
You will also bet on the long term dear?
“Yes, we are interested, even if we want to proceed step by step and by priority”.
Overall i2018 was not a brilliant year in terms of savings, but nevertheless your growth è was triple that of the market. What are the prospects for 2019 and how much could the negative economic scenario affect?
“It is often when there is more uncertainty in the financial markets that insurance products can be more attractive. In general, the economic cycle will not affect the stock of financial assets, which in Italy is very high, thanks to the historical propensity of Italians to save, which is worth a total of 4.000 billion euros. The slowdown in the economy may affect incomes and therefore consumption and savings flows, but the Italian market remains potentially enormous. Ultimately, I believe that a good result in 2019 depends entirely on our ability and not on the market trend".
Alleanza celebrated its 120th birthday and was born in Genoa, a city to which it is still strongly linked today: in Liguria there are 40.000 customers out of the company's almost 1,9 million, with 114 million premiums collected and a 20% growth in last three years. The capital was recently hit by the tragedy of the Morandi bridge, which is being dismantled in recent days. Have you dedicated any initiative to the city?
A few months ago we launched 'Ora di Futuro', an education project for children involving teachers, families, primary schools and non-profit networks throughout Italy, promoted by Generali Italia, Alleanza Assicurazioni and The Human Safety Net foundation. Ed it is precisely in Genoa that a few days ago we inaugurated the first Center for “Ora di Futuro”, which is aimed at families with children aged 0 to 6 and which is managed by the non-profit organization 'L'Albero della Vita'. The Center is located in the Sampierdarena district, a few tens of meters from the red zone around the Morandi Bridge: 80 families and 160 children will be supported with targeted actions and parenting education courses".
