Generali Italia’s strategic motor partnerships with BMW and Volvo
In collaboration with GHO Business Development & Partnerships unit, Generali Italia is enhancing its insurance offerings through strategic collaborations with leading automotive brands, BMW and Volvo. These partnerships are designed to provide innovative, tailored insurance solutions that address both the evolving needs of customers and new technological developments including the electrification of vehicles as well as the deployment of connected cars and Advanced Driver Assistance Systems.
BMW partnership: innovative coverage solutions
On May 8, 2024, Generali Italia and BMW Bank began a three-year partnership under the GET (Generali Experience Together) brand. This agreement focuses on MOD coverages (Motor Own Damage) for new and used vehicles financed or leased through BMW Group dealers (including BMW, Mini, Alphera, and Motorrad). The partnership aims at reaching an annual GWP of €80 million and offers comprehensive protection, including for electric vehicles with ad-hoc coverages for theft (including for the charging cable) or the reimbursement covering the costs for battery disposal.
Future developments potentially include MTPL (Motor Third Party Liability) coverages and health services. As such, potential product enhancements could include an MTPL offer with a reward based on driving-style data as well as other telematics services provided by Jeniot and health services provided by Welion, such as medical teleconsultation.
Volvo partnership: supporting electric mobility
Generali Italia also signed a three-year deal with Findomestic Banca for Volvo on July 17th, 2024, the second partnership using the GET brand. The MOD coverage targets new and used Volvo vehicles financed or leased through participating dealers, with an expected annual GWP of €10 million.
This partnership also has dedicated coverages for Volvo’s suite of electric vehicles and includes a telematics-based MTPL offer with cashback options, based on the driving style of each and every vehicle owner. Jeniot, will directly retrieve the information from Volvo connected cars, without the use of any aftermarket devices, to determine a driving score that will be then exposed to each Volvo vehicle owner by leveraging the Volvo app. Generali will also offer exclusive deals for employees and customers of Volvo vehicles.
These partnerships demonstrate the commitment of Generali Italia to enhance its motor insurance offering with cutting-edge services and tailored coverages, reflecting its ongoing dedication to meeting the evolving needs of automotive customers.