Italy-based insurance company Generali has launched a new group software factory, Generali Core Tech, to advance its technology transformation.
The move is in line with the insurer’s “Partners for Life 27: Driving Excellence” strategic plan, which focuses on enabling business growth by building scalable, shared and innovative platforms that leverage new solutions and platforms.
The plan foresees investments of €120-130 million in artificial intelligence (Al) and technology to support operational efficiency, technical excellence and customer experience.
The software factory will manage and further develop the “Insurance in a Box” (IIAB) shared core insurance platform for life and property and casualty insurance, advancing the platform’s launch plan. It’s already live in Spain and Switzerland and is currently expanding to Portugal, Hungary, Slovenia and Croatia.
Since launch, IIAB has been instrumental in enhancing Generali’s technology agility and enabling economies of scale and scope across the insurance business. The initial scope of the project will cover approximately 15 million policies across the group.
As a center of excellence, the software factory will establish a team of approximately 150 experts, using advanced development methods, supported by generative artificial intelligence tools, and working closely with local teams in each business unit. Generali Core Tech will leverage the platform of RGl, a provider of insurance software in Italy and across Europe.
David Cis, Chief Operating Officer of the Generali Group, commented: “We are delighted to launch Generali Core Tech, which is another example of our focus on group synergies and technology transformation and is part of the ‘Partners for Life 27: Driving Excellence’ initiative. Together with RGI, Generali Core Tech will continue to develop the ‘Insurance in a Box’ platform shared across multiple business units.”
“This will enable us to strengthen our leadership in the development of key skills, support local teams in new system development and enhance the use of Al/GEN Al in revolutionizing the software development process.”
