The record in the 122-year history: Insurance Alliance, a company of the Generali group, closed a 2019 to be framed, with the historical record of production, which rose to over 2,7 billion. Growth was 16%, five times that of the Italian insurance market, which remained at +3%. He talks about it today in front of 1.700 employees the managing director Davide Passero, which has once again chosen Genoa, where Alleanza was founded, to gather the largest patrol of consultants in Italy (there are 12.000 throughout the country), “because roots are important. We have been keen to hold the annual convention in Genoa since 2015”. In addition to the results, Passero commented on the goals for 2020 with FIRSTonline, starting from the slogan chosen for the Ligurian event.
Doctor Sparrow, you have chosen “The sense of wonder” as the slogan of the convention. A somewhat unusual message for an insurance company: what do you want to communicate?
“I'm not crazy about English terms, but in this case I think it would work well to define us as an experience company. The Generali group's goal is to be partners for life, we want to understand this and go further, offering our customers memorable experiences, worthy of being told. We want to amaze them, go beyond their expectations. Often, in the world, insurance companies do not enjoy a great reputation, but I believe that with the right attention we can even create wonder in customers”.
In the meantime, close a record year. What does he have to say about this?
“That in addition to numbers, we have also grown in terms of turnover quality, diversifying the offer. A year and a half ago we decided that health protection, in a country like Italy where private health care costs are poorly covered, should become one of the drivers, and that sector has in fact grown by 65%, billing around 40 million. In general, protection, including Life, generated 170 million, growing by 30%”.
These results came in a market context that was not brilliant and despite the fact that Italy continues to be an underinsured country. How do you plan to grow and win new customers?
“This year we are launching a major plan for financial education, which in the meantime is good for the whole system and is a social duty for those involved in insurance. Beyond the final choice of people on which products to choose and with which companies, it is right that they are correctly informed. The plan envisages hundreds of initiatives, oriented in two directions: the training and professional updating of our consultants, and the diffusion of a financial culture on the territory. We are widespread throughout Italy, we have over 1.200 points of sale".
Italy is the 19th country among the top 20 in the OECD for financial education, ahead only of Saudi Arabia. How do you plan to intervene?
“Italians have always had a low propensity for risk, and when they do, they prefer instruments such as government bonds. But in a phase of very low, or even negative, returns on BOTs and BTPs, it is necessary to explain to them that there are alternative investments. For example, the supplementary pension scheme is a pillar for us, yet two out of three workers still do without it, despite the significant tax exemption provided by law. Families are also insured for health: private health expenditure is growing by double digits, but only 10% of services are covered by traditional policies, unlike 30-35% in other European countries. It is especially important to ensure high-level diagnostics and major surgical interventions, which the State does not cover and which cost thousands of euros, while insuring them would cost 50-60 euros a month”.
Going back to the slogan chosen for the convention: you seem to focus a lot on people, consultants and customers, yet you don't shy away from the challenge of technology. How do you balance the two aspects?
“We want to be romantic, to combine the rational and emotional components. We are convinced that we will not end up being managed by the algorithms of Facebook and Amazon, but rather that technology will be at the service of human relations".
Forecast for 2020?
“The scenario of low rates is unavoidable, however the insurance market has ample room for growth. Our success therefore depends on us, on our ability to intercept customer needs. Where do we want to go? Breaking the 2019 record.”
