GRI Product and service impact

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.
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.
Assicurazioni Generali S.p.A. - C.F. e P.IVA 00079760328