13.12.2017 //

"Rethink insurance": Generali Germany is new member of the Innovation Center Connected Living

Digital connectivity and transformation are changing our working and living worlds and have a significant impact on business models in many industries. Thus, the insurance industry is also facing profound changes. The use of new technologies offers insurers the opportunity to sustainably improve the lives of their customers through innovative services and products and to generate competitive advantages with new business models. In order to position itself even better in this growing market and to exploit the opportunities offered by technologies as well as to conclude new, cross-industry cooperations to expand the range of services, Generali Deutschland, the second largest primary insurance group in the German market, is a member of the Innovation Center Connected Living e. V. since September 2017.

Connected technologies, such as sensors in vehicles and homes, are increasingly entering into our everyday lives. For the insurance industry, this development offers the opportunity to individualize customer offers and to implement preventive measures for early detection and damage prevention. This results in advantages for the insured and the insurer to reduce risks and thus damage. With a greater understanding of risk factors and clients' current life situations, insurers can respond to needs more targeted and needs-based, if customers wish. As a result, insurance companies can increase the quality of life and living comfort noticeably and thus become a real, competent partner.

True to the motto "Rethink insurance", Generali develops in Germany smart solutions for all areas of life to help people live healthier and safer: With the insurance coverage Generali Domocity, customers can make their own homes more secure and reduce the risks of burglary or fire or water damage by using Smart Home devices made by devolo and the Alphabet subsidiary Nest Labs. The system creates an intelligent home in which customers always stay informed about the status of their apartment through connected security systems. In case of damage, they receive automatic and quick help via integrated assistance services. With Generali Vitality, the Group gives its customers incentives for a healthier life. The ones who pay attention to their health and keep health care appointments, benefit from lower insurance premiums and exclusive discounts at partner companies. And with the telematics tariff Generali Mobility, the insurer encourages a safer and more prudent driving style.

With its smart insurance solutions, Generali is the market leader in the digitalization of the insurance industry. The company aims to further expand this leadership role and to use the technological possibilities with further product innovations to pick up the changes in society and its changing needs. For this reason, the company has joined the Innovation Center Connected Living:

"We see it as one of our core tasks to stand on the side of our customers and to ensure that claims do not even arise. With our Smart Insurance solutions, where we use IoT technology to reinvent insurance, we are ensuring a healthier lifestyle, safer driving and a more secure home. In the development and continuous improvement of our Smart Insurance products, we rely on exchange and cooperation with advanced technology companies and innovative and creative startups. Connected Living offers numerous, highly attractive opportunities for this.", says Martin Schmidt-Schön, Country Head Digital of Generali Deutschland AG.

Professor Sahin Albayrak,chairman of Connected Living, emphasizes the importance of the accession: "I am pleased that we could win a company from the insurance industry with Generali Germany AG, which increases the diversity of branches in our network and can be a very interesting cooperation partner for many of our members. In particular, assistance services, as offered by Generali, can provide tangible value-added services for consumers in the Smart Home sector. I am convinced that Generali's digitization strategy is on the right path and that it can draw additional positive incentives and ideas for the further development of the service portfolio of our network."

The Innovation Center Connected Living has been supporting the establishment of cross-industry partnerships for the development of Smart Home and Internet of Things solutions for more than eight years. In Germany's largest Open Innovation Platform for the Connected Life of the future, more than 60 well-known member institutions work together to develop customer-centric services and intuitively usable technology for secure, energy-efficient, age-appropriate and comfortable life and living in the future.

Click here for the press release.