Generali partners with Microsoft to introduce digital products, blockchain-based contracts
The Generali Group has entered into a partnership with Microsoft to introduce digital-focused insurance products and business models amongst others through building blockchain-based smart contracts.
Through this partnership, Generali aims to enhance its employees, agents and partners' efficiency, as well as improve operation processes and increase revenues.
Part of its focus will be to introduce a platform using digital services for collaboration and communications.
Italy-based Generali will also leverage on Microsoft’s capabilities to analyse social activities to better engage with Generali's prospect customers.
The insurer plans to do this through timely made offers, more efficient communication channels to improve customers’ experiences, and by creating insurance products building blockchain smart contracts and utilising cloud services and artificial intelligence.
Furthermore, Generali plans to introduce a digital business platform where third parties' operators can interact with Generali in order to provide a value-added service to customers.
Valter Trevisani, group chief insurance officer of Generali, said: “The insurance sector is going through a strong digital innovation process. This partnership with Microsoft will strengthen our digital innovation capabilities, allowing us to better focus on customer centricity and to develop new business products.”
Bruce Hodges, group chief information and digital officer of Generali, added: “Focusing on digital innovation is key for every player in the insurance market. We do believe this partnership will be a turning point in our distribution experience, enhancing operational excellence and products innovation and providing employees with a consistent workplace experience.”
Carlo Purassanta, CEO of Microsoft Italy, commented: “At Microsoft our mission is to empower every person and every organisation on the planet to achieve more. This partnership with Generali is the right path and the first step in a broad strategic collaboration between Microsoft and Generali that will allow Generali to reimagine and transform its customer engagement, employee experience, business model and operations.”
