Financial Inclusion

Our commitment to financial inclusion in the communities where we operate

At Generali we believe that all individuals and businesses should have access to useful and affordable insurance that meet their needs.

Some groups of clients are especially underserved due to their vulnerability when it comes to insurance, and we are committed to innovate and expand the range of insurance services available to underserved groups, as well as offer non-financial support and promote the financial well-being of underserved groups. We are also aware that we cannot reach these goals alone and we believe in the power of partnerships to expand the reach of inclusive finance.

These are our key partnerships and best practices in terms of products, services and non-financial support:

Generali & UNDP Partnership
A unique partnership aiming to boost access to insurance and risk finance solutions to reduce the protection gap and increase the socio-economic wellbeing of some of the world’s most vulnerable people and places.

THSN - Financial Education Programme
Financial education is now a strategic component of the For Families Program at The Human Safety Net. This integration addresses both the financial needs of parents and caregivers while fostering responsive caregiving and creating more opportunities for early learning.

Insurance solutions with ESG components
As part of our range of insurance offers, we are committed to developing and promoting some solutions that have ESG components. This includes products aimed at enabling and enhancing social inclusion, focusing on the disadvantaged and vulnerable sector of the population, like the young, the elderly, the disabled, the migrants.

Best practices

Financial Inclusion Products & Services

PRODUCTS & SERVICES DESCRIPTION TARGETED CLIENTS NUMBER OF CLIENTS REACHED  

NUMBER OF TRANSACTION/
CONTRACTS  
Microinsurance Health protection specifically designed for farmers in rural areas covering hospitalizations, death, or permanent total disability.  Individuals in rural or hard-to-reach areas 27,565 27,565
Other financial inclusion service Remote assistance service for elderly people & adults with disabilities or loss of autonomy which allows to immediately contact qualified tele-assistants and to organize the intervention of the emergency services. Other underserved groups – Elderly people Up to 70,000 people reached Up to 70,000 subscriptions
Microinsurance Crop insurance scheme aiming at providing financial support to farmers suffering crop/loss/damage, stabilizing farmers income to ensure their continuance and ensuring flow of credit to the agriculture sector. Microbusinesses (farmers)
Individuals in rural or hard-to-reach areas		 1,249 1,249

 

Financial Inclusion - Non-Financial Support

NON-FINANCIAL SUPPORT DESCRIPTION TARGETED CLIENTS QUANTITATIVE SOCIAL IMPACT
Business management tools or training Entrepreneurship Programme for refugees in Switzerland: The Generali Foundation's "The Human Safety Net" program for refugee entrepreneurs helps refugees to set up their own business. Many of them have the skills, passion and resilience to become entrepreneurs but they face many obstacles once in Switzerland: language barriers, regulations and procedures that differ from those in their country of origin, loss of network, etc. These are all obstacles that prevent them from setting up their own business, or even finding a job. Within the Entrepreneurship programme, we encourage people with refugee or migrant backgrounds to explore and further develop their skills as entrepreneurs. We also help several participants to set up their own businesses and offer small start-up loans. Poor and/or low income individuals
Other underserved groups – Migrants		 131

N. of persons with refugee or migrant background that benefit from the Entrepreneurship programme
11

N. of participants have started their business
6

N. of participants have found a job
Financial or digital literacy training Financial Literacy Program: Financial literacy sessions in three locations for families living in socio-economically vulnerable conditions, which can hinder both parents and children, particularly during early childhood. Sessions on financial literacy covered topics such as savings, budgeting, and distinguishing between needs and wants, benefiting underprivileged families. The financial literacy sessions aimed at empowering parents to prioritize their family budgets effectively and to plan for their children's long-term future. Our strategy integrates financial literacy into family programs, aiming to educate and empower beneficiaries to become financially literate. Poor and/or low income individuals 216

N. of sessions in collaboration with Pratham Education Foundation
54

N. of sessions with Bal Raksha Bharat (also known as Save the Children)
36 N. of sessions with United Way Mumbai
Financial or digital literacy training Supporting Visually Impaired with Accessible Computer Labs: In India, about 60 million people are disabled and 42.5% of them are women while 75% of people with disabilities come from rural areas. Nearly 40 million people in India, including 1.6 million children, are blind or visually impaired due to uncorrected refractive error. There is a confluence of barriers to accessibility with inaccessible and unaffordable technologies, inaccessible websites, and unsupportive laws to cater to the needs of visually impaired. As a result, they unable to have access to facilities available around them to enhance their skills.

The project focuses on supporting visually impaired students by providing accessible computer labs. 

 Other underserved groups – individuals with health conditions and impairments over 600 N. of estimated beneficiaries of the project