Generali Global Corporate & Commercial (GC&C) has announced it is strengthening its Parametrics structure to expand its operational platform and enhance its market presence.
Within GC&C’s Insurance Function, the structure known as Property, Engineering & Construction, led by Sander Van Voorden, will now be renamed as Property, Engineering, Construction & Parametrics, thereby assuming additional responsibilities for coordinating the Parametrics proposition.
David Weber will lead the division as Head of Parametrics. Furthermore, this newly formed structure will serve as a competence centre, driving the broader development of Parametrics insurance business across the Generali Group, the company noted.
“The strategic focus on Parametrics insurance is in line with Generali Group’s ‘Lifetime Partner 24: Driving Growth’ strategy, which involves investing in cutting-edge technology, advanced analytics and data, as well as industry partnerships to enhance our insurance capabilities,” Jean-Laurent Granier, Country Manager France, Europ Assistance & Global Business Activities commented.
“This unwavering commitment to innovation and continuous improvement underscores our dedication to meeting the ever-evolving needs of our customers in today’s dynamic and complex risk landscape,” he added.
Christian Kanu, CEO of Generali Global Corporate & Commercial, stated: “We are proud to be a centre of expertise for Parametrics insurance, and our continued investment in this space solidifies the increasingly strategic role that GC&C plays within the Generali Group.
“This initiative enables us to enhance our operational capabilities, to ensure consistency in product offerings, and to establish ourselves as a leading player in the Parametrics insurance market. This way we will be able to support and offer even better insurance solutions to our clients, protecting their business on a global scale.”
Parametrics insurance offers transparent and adaptable coverage for unexpected events, including natural disasters and weather-related risks. As the market evolves, parametric products are expected to play a pivotal role, driving future expansion, and offering enhanced solutions, the insurer highlighted.
