Generali partners with Alphabet subsidiary on insurtech innovation

Italian insurer Generali has partnered with Nest Labs, a subsidiary of Google parent Alphabet, to develop a new insurance product in Europe.

Through the partnership, Generali will offer its clients household insurance with Nest's smart home technology which detects smoke and carbon monoxide, and sends alerts to customer's phones. The technology will help make homes safer and lives more protected, according to a company statement.

The household insurance will cover the property in case of damage.

Gian Paolo Meloncelli, Generali Group strategy and business transformation accelerator, commented: "This partnership is another milestone that confirms our commitment to creating value for our customers through innovation. As a leading player in continental Europe we need to keep innovating to better serve our customers. Nest will help Generali customers to have a simpler and smarter life."

The partnership will start in Germany from end of February, where CosmosDirekt will offer to its home insurance customers a dedicated proposition including Nest Protect, the smoke and carbon monoxide detector.

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