The complexity of the issues that we are facing has led us to working with an increasingly integrated and cross-cutting approach across different functional areas and business units, allowing us to gain a broader view and to enhance a wide variety of skills and approaches, which represent a vital asset for the Group.
Describing a group like Generali requires a multitude of viewpoints as well as the ability to express our strategic vision. For this reason, the Integrated Lab was established in 2016, consisting of Group functions – Group Integrated Reporting & CFO Hub, Shareholders and Governance, Group Reward Group and Group Social Responsibility - which met periodically to plan their reports so that they could be linked together and represent the different views of a single strategy.
In particular, as part of the Lab, we promoted a number of interactive workshops open to all Group employees, for the purpose of illustrating the reports that are published, with a focus on the Annual Integrated Report and the Sustainability Report. This opportunity allowed us to share their content and to receive suggestions for improvement. Overall 150 people participated in the offices of Trieste, Mogliano Veneto, Milan and Paris.
The integrated thinking inspired the start of the GALILEO programme, which jointly manages a group of strategic projects of the Group Chief Financial Officer (GCFO) area.
Through its structured governance, GALILEO deals with the main challenges of the finance area, such as the changes in international accounting standards and the implementation of Pillar 3 of Solvency II at Group level, by integrating the various projects and dealing with the expectations of the Group’s different stakeholders and the relevant project risks. Sponsored by GCFO, the programme structurally involves many areas of the Group Head Office and all business units.
Thanks to this approach, we improved our operational model, allowing us to address future challenges more effectively.
Over the past years, the regulatory framework for the insurance industry has moved from a purely local perspective to a more international one, with particular focus on European countries. This includes a wide number of directives and regulations - such as the General Data Protection Regulation (GDPR) - which require the implementation of Group-wide processes and standards designed to achieve synergies between countries and cost/effort effectiveness. A specific function - the Group Regulatory Intelligence - was set up, therefore, which promotes this process by analysing the regulations that are due to enter into force and by performing Local Regulatory Analysis (LRA). As a result of this method, the impacts and the actions to be implemented for compliance with the new requirements are identified, and cross-functional working groups are organised at local and Parent Company level, one for each regulation, comprising representatives from the countries and functions involved depending on the scope of application of the standard. The working groups act as an interface for all local structures involved in the relevant processes and for the Head Office functions.
Together with our clients
In some countries we are developing smart working practices based on connectivity and flexibility. We are also creating an inclusive and open environment where everyone can contribute and make a difference, emphasising personal independence, responsibility and trust.
We create an innovative environment to incentivise our employees
In Italy, at Assicurazioni Generali, Generali Italia and Generali Business Solutions we have launched the first smart working pilot project as an organisational innovation and a response to the Global Engagement Survey as regards work-life balance issues. The project began in March 2016 with the involvement of the trade unions to adopt shared modus operandi. The beneficiaries of the project, operative since December 2016, are around 230 colleagues from the Milan site that joined up voluntarily, signed an individual agreement and followed a training course on workplace health and safety.
The smartworkers, who can work remotely, will be equipped with the most hi-tech equipment including company laptops and smartphones. In addition, over 100 managers took part in workshops dedicated to leadership and management style issues in regard to smart working. This represented the start of a support process that will last for the duration of the trial period (6 months). Involvement and participation in the project will be monitored and the benefits for employees in terms of reduced commuting, reduced CO2 emissions and savings on transportation costs will be calculated.
In France, we have leveraged on new technology instruments, such as thinclient, laptops and the use of Lync (platform for chats, video calls and the sharing of desktops), to improve wellbeing in the workplace. We have also drafted a new social contract that permits working from home, telecommuting in sales offices and a new way of using office spaces.
In Spain, we have launched a pilot project in the property&casualty department in the Madrid offices whereby 12 people can work 25% of their contracted hours using smart working processes.
We want our people to be at the centre of the change, generating ideas, actively participating and sharing.
In Italy, following the 2016 hackathon which saw 120 people work together on innovative issues (social network tools and logic applied to the sales networks, agency of the future, customer centricity, Internet of Things and big data applied to insurance products), we launched two important initiatives:
- Tam tam talks, six events inspired by the international Ted format to foster the circulation of ideas, with 1,000 participants at the first meeting dedicated to major transformations.
- Simplification lab (Mogliano Veneto, Milan, Rome and Turin), cross-functional teams that actively engage over 400 employees, borrowing the logic of technological start-ups to foster collaboration and exchange between people with different skills. The teams will have the task of reviewing all processes over a period of 15-20 weeks.
€ 150 mln invested
500 people engaged
20 key processes to replan in 3 years
5 processes already reviewed in 2016