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Assicurazioni Generali S.p.A.

 

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The Generali's Web Site (the “Site” or the “Generali Site”) is an on-line information and communication service provided by Assicurazioni Generali S.p.A. ("Generali"). By using this site or downloading materials from the site, you agree to abide by the terms and conditions set forth in this notice. By using this Site you will be deemed to have irrevocably agreed to these terms.

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GRI Product and service impact
GRI INDICATORS DESCRIPTION REPORTED GLOBAL COMPACT PRINCIPLES CROSS-REFERENCE/DIRECT ANSWER
ASPECT: Product portfolio
FS1.  Core Policies with specific environmental and social components applied to business lines. fully

As described in the Environmental Policy, the Generali Group has the objective of providing incentives for clients to adopt eco-sustainable behaviour by offering insurance and investment products that promote environmental awareness. The Group also gives importance to issues related to climate change that can be both a risk and an opportunity for the conduct and development of its business.
Moreover, the Group aims at including, through microinsurance, members of society who would otherwise be excluded from the insurance market. Thanks to this tool, the poorest sections of population are, for example, provided with health insurance products.
FS2. Core Procedures for assessing and screening environmental and social risks in business lines. fully
Information on the Risk Management System is reported in the Risk Report, to which a specific section of the Annual Integrated Report 2013 is devoted.
If significant, social and environmental risks in insurance contracts are considered at the underwriting time and they influence not only on the pricing but often represent also a requirement for obtaining the cover. Compliance with laws in force is essential; moreover, the presence of measures aiming at reducing the risk of claims may be required to obtain the cover and led, in any case, to lower premiums. Specifically, as for significant risks, inspections are common to identify measures to be adopted for an efficient and effective risk management. As for life and health products, the risk assessment is based on a detailed questionnaire on medical history and it is sometimes integrated with a thorough medical examination.
FS3. CoreProcesses for monitoring clients' implementation of and compliance with environmental and social requirements included in agreements or transactions.fully In the insurance contracts statements of the client on the risk status made at the time of signing the contract are binding: they are verified when the claim occurs and, if they are not true, the compensation for the loss is reduced or even not due in cases where the cover would not have been given. Monitoring is not applicable because the relevant risk in insurance contracts is assessed at the underwriting time.
FS4. CoreProcess(es) for improving staff competency to implement the environmental and social policies and procedures as applied to business lines.fully In 2013 training was done to those employees directly involved in the implementation of the Environmental Management System only in some countries (Germany and Spain). In Head Office, training was decided to be postponed to 2014 as to include training on the new software for environmental data collection.
FS5. CoreInteractions with clients/investees/business partners regarding environmental and social risks and opportunities.fully The Generali Group is engaged in risk prevention in various ways, including through partnership with organizations promoting the interests of consumers. With regard to health and safety in the home, in France, Generali France was one of the founding companies of the insurers' health and prevention association (APS), which also publishes illustrated guides on the main topics related to health and the prevention of accidents in the home. Over the last few years, various road traffic initiatives have also been carried out within the Generali Group. The Italian Group companies are part of the Fondazione per la Sicurezza Stradale - established within ANIA on a request by insurance companies - which carries out traffic risk prevention activities, promoting the education of responsible driving. In Germany, Generali Versicherung, the industry association Gesamtverband der Deutschen Versicherungswirtschaft and the committe of the German road safety Deutscher Verkehrssicherheitsrat e.V. work together on initiatives to raise awareness about traffic risks. In Spain, the Group participates with the national trade association Unión Española de Entidades Aseguradoras y Reaseguradoras es la Asociación Empresarial del Seguro (UNESPA) in a project to provide clear product information and in research programmes on road safety.
Information is qualitatively reported.
FS6. CorePercentage of the portfolio for business lines by specific region, size (e.g. micro/SME/large) and by sector.fully Annual Integrated Report 2013, p. 14; 20; 48-53; 171-172

FS7. CoreMonetary value of products and services designed to deliver a specific social benefit for each business line broken down by purpose.fully Premiums from insurance products with particular social value amount to almost 1,320 million euro and they represent almost 2.4% of total gross written premiums.
FS8. CoreMonetary value of products and services designed to deliver a specific environmental benefit for each business line broken down by purpose.fully Premiums from insurance products with particular environmental value amount to almost 1,600 million euro and they represent 2.8% of total gross written premiums.
ASPECT: Audit
FS9. CoreCoverage and frequency of audits to assess implementation of environmental and social policies and risk assessment procedures.fully
The Group procedure for the internal audit on the Environmental Management System (EMS) envisages an audit on the System to be conducted by the Group Audit at least once every three years. All non-compliance concerning EMS organizational structure and the formalization of some Group procedures, that were resulted from the audit in 2012, were filled in 2013.

ASPECT: Active ownership
FS10. CorePercentage and number of companies held in the institution's portfolio with which the reporting organization has interacted on environmental or social issues.fully
The Group interacts with issuing companies through dialogue as to encourage them to act responsibly and to require to justify any conduct that does not conform to its ethical criteria.
Data are not available, since the Group worked, in 2013, on a new voting policy that was formalized in early 2014.
FS11. CorePercentage of assets subject to positive and negative environmental or social screening.fully
No screen is required by law.
Assets that were subject to negative screening were 49.8% of total assets under management.
FS12. CoreVoting polic(ies) applied to environmental or social issues for shares over which the reporting organization holds the right to vote shares or advises on voting.
fully 
GRI Product Responsibility
GRI INDICATORS DESCRIPTION REPORTED GLOBAL COMPACT PRINCIPLES CROSS-REFERENCE/DIRECT ANSWER
FS15. Core Policies for the fair design and sale of financial products and services.
fully
Emerging needs, the results of market analyses and any new features introduced through laws are considered when developping, distributing and providing products and services. These elements have led to the introduction of products with particular social and environmental value and the use of new channels at the service of customers. Moreover, sales force is constantly and adequately trained in order to garantee the quality of the services provided by the Group.
ASPECT: Customer health and safety
PR1. Core Life cycle stages in which health and safety impacts of products and services are assessed for improvement, and percentage of significant products and services categories subject to such procedures.
not 1
Products/services impacting on health and safety are not distributed/provided.
PR2. Additional Total number of incidents of non-compliance with regulations and voluntary codes concerning health and safety impacts of products and services, by type of outcomes.
not 1
Products/services impacting on health and safety are not distributed/provided.
ASPECT: Product and service labelling
PR3. CoreType of product and service information required by procedures, and percentage of significant products and services subject to such information requirements.
not8Products and services are not labelled.
PR4. Additional Total number of incidents of non-compliance with regulations and voluntary codes concerning product and service information and labeling, by type of outcomes.
not8Products and services are not labelled.
PR5. Additional Practices related to customer satisfaction, including results of surveys measuring customer satisfaction.
fully 
FS16. CoreInitiatives to enhance financial literacy by type of beneficiary.fully 
ASPECT: Marketing communications
PR6. CorePrograms for adherence to laws, standards, and voluntary codes related to marketing communications, including advertising, promotion, and sponsorship.
fully
Corporate identity activities respect the fundamental ethical values, maintaining the veracity of its contents and repudiating the use of coarse or offensive messages, in keeping with the provisions in the Code of Conduct of the Generali Group and the directives issued by the relevant control authorities. The graphics and content of advertising material produced by the marketing or sales departments are examined by the Corporate Identity unit in order to identify any statements that could lead to misunderstandings regarding the characteristics of the product or service. The advertising material is then validated by the legal department, which assesses the compliance of the commercial message with existing legislation, the rules dictated by the supervisory board, the basic principles enshrined in the Code of Conduct and the provisions of other self-regulatory codes. At the end of 2013 the first version of the new Brand Book was released, with the aim of ruling and coordinating the main communication tools according to the principles of consistency and uniformity in style to be applied to all Group companies having the Generali brand.
The Generali Group reviews codes and voluntary standards when necessary.
The Generali Group does not sell products that are banned in certain markets or the subject of stakeholder questions or public debate.

PR7. AdditionalTotal number of incidents of non-compliance with regulations and voluntary codes concerning marketing communications, including advertising, promotion, and sponsorship, by type of outcomes.
fully
In 2013 no incidents of non-compliance with regulations or voluntary codes were reported concerning marketing communications of Group companies.
ASPECT: Customer privacy
PR8. Additional
Total number of substantiated complaints regarding breaches of customer privacy and losses of customer data.fully 1
In 2013 insurance companies in the main countries where the Group operates received from clients and recognized as legitimate 382 complaints regarding breaches of customer privacy. Reasons lain in 22 leaks, 4 thefts and a loss of customer data as well as in 355 undesired commercial communications, improper data transmission and incorrect use of data.
In Italy, France, Germany and Spain also the Privacy Authorities guaranteeing the protection of personal data and similar regulatory bodies recognized as legitimate 13 complaints from clients about undesired commercial communications and incorrect use of data.

ASPECT: Compliance
PR9. Core  Monetary value of significant fines for non-compliance with laws and regulations concerning the provision and use of products and services.
fully
In 2013, 124 fines amounting to about 768,000 euro were issued to the insurance companies in the main countries where the Group operates for non-compliance of products and services with laws and regulations in force at various levels: local, regional, national and international.
GRI Society
GRI INDICATORS DESCRIPTION REPORTED
GLOBAL COMPACT PRINCIPLES CROSS-REFERENCE/DIRECT ANSWER
ASPECT: Community
SO1. Core  Percentage of operations with implemented local community engagement, impact assessments, and development programs. not



The Group constantly dialogues with the various local institutions and other organizations, including public transport companies, as to assess the relevant impacts the corporate activities and decision may have on the communities.
The percentage required is not available, since a measurement system for this indicator is not implemented.

SO9. Core  Operations with significant potential or actual negative impacts on local communities. fully  
When considering the Group core activities, the negative impacts on local communities are the following: economic impacts, i.e. those associated to job offer and purchase of goods and services from local suppliers; logistic impacts, i.e. those linked to commutes and transfers for duty; and environmental impacts, i.e. those due to transfers and building management (pollution risk).
SO10. Core  Prevention and mitigation measures implemented in operations with significant potential or actual negative impacts on local communities. fully
The Group is committed to a sustainable management in the environmental field (see Generali and the environment in SR 2013) and in the social one (employment agreements and policies for business combinations and corporate restructuring)
FS13. CoreAccess points in low-populated or economically disadvantaged areas by type.not Sales and claims settlement networks of the Generali Group are widespread in several markets and also in lowpopulated areas. The possibility of communicating by phone or internet with the Group companies in case of underwriting and in the claim settlement process also contribute to reduce barriers to access to services.
FS14. CoreInitiatives to improve access to financial services for disadvantaged people.fully The websites of the Generali Group companies are in accordance with the Group web guidelines which comply with the international standards defined by Web Accessibility Initiatives (WAI). The guidelines also provide some suggestions about usability and accessibility for the disabled, such as increasing font size, increasing contrast of font and page background, suitable colour choices for font and background, keyboard navigation, automatic underlining of all links, limited use of flash animation, HTML version of the press releases, communications and sections, thereby guaranteeing access to the greatest possible number of users and avoiding all forms of
discrimination.
ASPECT: Corruption
SO2. Core Percentage and total number of business units analyzed for risks related to corruption.
fully 10 Information as for 2013 is not available. The Generali Group is committed to carry out a new risk assessment for corruption during 2015 (data will be available in 2016).
SO3. CorePercentage of employees trained in organization's anti-corruption policies and procedures.
fully10In accordance with information reported from the main countries, almost 1/3 of Group workforce received training on corruption.
SO4. CoreActions taken in response to incidents of corruption.fully10There was no evidence of concluded legal cases regarding corrupt practices brought against the Group companies or their employees.
ASPECT: Public policy
SO5. Core Public policy positions and participation in public policy development and lobbying.
fully 1, 2, 3, 4, 5, 6, 7, 8, 9, 10 The Generali Group has relations with public institutions mainly through national trade associations.
SO6. AdditionalTotal value of financial and in-kind contributions to political parties, politicians, and related institutions by country.fully10
ASPECT: Anti-competitive behavior
SO7. Additional  Total number of legal actions for anti-competitive behavior, anti-trust, and monopoly practices and their outcomes.
fully
Six legal actions were initiated against Group insurance companies in 2013.
There was no evidence of the outcomes of such actions.

ASPECT: Compliance
SO8. Core  Monetary value of significant fines and total number of non-monetary sanctions for non-compliance with laws and regulations.
fully
In 2013 Group companies received fines for just over 1.3 million euro. Of these, about 572,000 euro involved sanctions for non-compliance with laws and regulations other than those reported in the EN28 and PR9 indicators.
The total number of non-monetary sanctions for non-compliance with laws and regulations is not available.

GRI Human rights
GRI INDICATORS DESCRIPTION REPORTED GLOBAL COMPACT PRINCIPLES CROSS-REFERENCE/DIRECT ANSWER
ASPECT: Investment and procurement practices
HR1. Core Percentage and total number of significant investment agreements and contracts that include clauses incorporating human rights concerns, or that have undergone human rights screening. fully  1, 2, 3, 4, 5, 6 The majority of direct investments (excluding real estate) of the Group insurance companies where they bear the risk - that are represented by premiums paid by clients for all insurance contracts and liabilities for policyholders - are invested in accordance with the Ethical Guidelines of the Group which forbid investments in financial instruments issued by companies that do not respect the fundamental human rights.
Assets that were subject to negative screening were 49.8% of total assets under management.
HR2. Core Percentage of significant suppliers, contractors and other business partners that have undergone human rights screening, and actions taken.
fully 1, 2, 3, 4, 5, 6
In 2013 no information on suppliers, contractors and other business partners that underwent human rights screening was available from the main countries where the Group operates.
HR3. Core Total hours of employee training on policies and procedures concerning aspects of human rights that are relevant to operations, including the percentage of employees trained.
fully 1, 2, 3, 4, 5, 6 In order to raise awareness about human rights among the employees, training on the existing Ethical Code was delivered via an e-learning course lasting an hour and involving almost 19,000 people around the world (almost 1/4 of the total workforce). In 2014 the Group has started rolling out an introductory training programme on the Code of Conduct – in which the issue of human rights is discussed in detail – which must be followed by all Group employees.
ASPECT: Non-discrimination
HR4. Core Total number of incidents of discrimination and corrective actions taken. fully 1, 2, 6 In 2013, 14 reports related to human rights issues (discrimination) were presented, 6 of which are still pending.
The remaining reports were settled adopting appropriate disciplinary measures.
Further details will be available in 2016, when the process for reviewing and implementing the Group procedures to manage such issues will be completed.
ASPECT: Freedom of association and collective bargaining
HR5. Core Operations and significant suppliers identified in which the right to exercise freedom of association and collective bargaining may be violated or at significant risk, and actions taken to support these rights.
fully 1, 2, 3
ASPECT: Child labor
HR6. Core Operations and significant suppliers identified as having significant risk for incidents of child labor, and measures taken to contribute to the effective abolition of child labor.
fully 1, 2, 5
ASPECT: Forced and compulsory labor
HR7. Core Operations and significant suppliers identified as having significant risk for incidents of forced or compulsory labor, and measures to contribute to the elimination of all forms of forced or compulsory labor.
fully 1, 2, 4
ASPECT: Security practices
HR8. Additional Percentage of security personnel trained in the organization's policies or procedures concerning aspects of human rights that are relevant to operations.
not
1, 2 Security services, that mainly concern night surveillance of the buildings, are provided by external organizations.
There are no evidence on training provided by them.
ASPECT: Indigenous rights
HR9. Additional Total number of incidents of violations involving rights of indigenous people and actions taken. not 1, 2 The risk of violations involving rights of indigenous people is not significant, when considering the insurancebanking activities of the Generali Group.
ASPECT: Assessment
HR10. Core Percentage and total number of operations that have been subject to human rights reviews and/or impact assessments. fully  
ASPECT: Remediation
HR11. Core Number of grievances related to human rights filed, addressed, and resolved through formal grievance mechanisms. fully   In 2013, 14 reports related to human rights issues (all concerning cases of discrimination) were presented.
12 reports concerned Group employees' activities, half of which have been settled. The remaining 2 reports concerned agents' activities; both of them were settled during the year, one of which with the termination of the contract.
Woman/man remuneration
CountryManagersMiddle ManagersOffice workersSales Force on payroll
  Remuneration* Basic salary** Remuneration Basic salary Remuneration Basic salary Remuneration Basic salary
Italy 0.78 0.85 0.82 0.99 0.80 0.90 0.77 0.86
Austria 0.85 0.94 0.88 0.95 0.68 0.77 0.68 0.82
Czech Republic 0.88
0.880.850.700.720.77 1.190.95
France 0.940.940.880.891.041.040.770.82
Germany 0.860.900.840.910.790.800.730.76
Spain 0.90 0.89 0.78 0.83 0.80 0.81 0.84 0.91
Switzerland 0.89 0.90 0.84 0.85 0.76 0.75 0.56 0.52
* Annual amount paid by the Group to employees including not only what established by the National Collective Bargaining Agreement by the Company Collective Agreement, but also any other type of additional remuneration, such as company seniority, overtime work, bonuses, benefit. ** Amount concerning just the National Collective Bargaining Agreement, without including any type of additional remuneration.
Workforce by age bracket
Country<34 years35-44 years45-54 years>55 years
  2012 2013 2012 2013 2012 2013 2012 2013
Italia 26.5% 23.6% 36.4% 37.0% 26.7% 28.2% 10.4% 11.2%
Austria 23.5% 23.8% 29.3% 27.1% 35.9% 36.9% 11.2% 12.2%
Czech Republic 44.8%43.8%26.1%26.8%19.7%19.6%9.4%9.8%
France 25.2%25.1%27.5%27.4%29.2%28.6%18.2%18.8%
Germany 21.6%19.9%28.5%27.5%35.9%37.3%14.0%15.3%
Spain 19.2% 18.9% 28.3% 27.6% 35.9% 35.1% 16.6% 18.3%
Switzerland 43.5% 41.9% 26.4% 25.8% 18.9% 19.2% 11.2% 13.1%
TOTAL 26.8% 25.3% 30.5% 30.2% 29.8% 30.7% 12.8% 13,8%
Breakdown of employees per employee category according to gender is under LA1. In 2013 the number of disabled people employed in the Group companies in the main countries came to 1,739, 810 of whom were women (46.6%). Directors of the Board of the Parent Company are 59.6 years old on average. Specifically, four directors (36.4%) - of whom three are women - age between 30 and 50 years old and seven directors (63.6%) - of whom one is a woman - age over 50 years old. A director (9.1%) is of foreign nationality.
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Assicurazioni Generali S.p.A. - C.F. e P.IVA 00079760328