Reinsurance News

Generali, Accenture form tech-focused joint venture

16th December 2020 - Author: Charlie Wood

Generali and professional services firm Accenture have created a joint venture designed to leverage cloud technologies and shared technology platforms, in an effort to accelerate the Italian insurance giant’s digital strategy.

generaliIn addition to holding a 5% ownership stake in Group Operations Service Platform (GOSP) Accenture will provide the venture with a team of 40 professionals.

GOSP will develop projects and solutions that accelerate the digitisation of Generali’s business processes and the adoption of a cloud-centric model.

It’s hoped the new solutions from the joint venture will enable Generali to improve operational efficiencies and profitability, achieve cost savings, and enhance service quality.

“Innovation and digital transformation are of fundamental importance in our Generali 2021 Strategic Plan,” said Frédéric de Courtois, Generali Group General Manager.

“Thanks to this partnership, we will continue the journey along the pathway set out in our strategy, fully aware of the change that technology can bring about in the insurance industry.

“At our side on this journey, we have Accenture, a valued partner with great experience in digital and with whom we are starting a long-term collaboration.”

Ottorino Passariello, Head of Group Operations & Processes at Generali, added, “GOwSP pioneers a new process in technology governance. We are proud to initiate a unique partnership whose capital structure is itself an innovation within the context of information technology and digital transformation in the insurance industry.

“Together, we will create new momentum in our drive to innovate digital processes across Generali’s branch networks and employees – and also deliver undeniable benefits to our customers.”

Jean-Marc Ollagnier CEO of Accenture for Europe, noted, “By adopting a cloud-first approach, Generali will be able to innovate at speed and scale.

“Working hand-in-hand, we will enable Generali to quickly and cost-efficiently create innovative insurance products and services, which will fit the specific needs of customers in Italy and other markets.

‘Through this partnership, we are not only helping Generali transform its business, but we are also supporting its employees throughout the transformation with a re-skilling and up-skilling program. It is a testimony of how we deliver 360-degree value for the benefit of our clients and their customers, partners and employees.”

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