Superior operating model
Culture is the distinctive factor of any organization and the reason for its success in the long term. The definition and strengthening of culture is fundamental.
In order to carry out our daily work in the best manner, we believe it is important to communicate and share the same language, both internally and with the outside world. We have therefore defined and launched our Vision, Mission and Values. Such cultural framework contributes to differentiating us from others and presenting us in a simple and clear manner with regards to our commitments, objectives and principles of organizational behavior and to the relationships with our colleagues and clients.
The Lion, a fascinating, evocative and powerful symbol, was redesigned and will replace the over 100 different logos worldwide, with the intent of unifying and fostering brand awareness.
Organization and change management
Our current organization reflects the Generali commitment to become a multinational insurance group. We therefore consolidate our organizational model that is based on:
- a renewed governance, where the Group Head Office functions provide global strategic direction, maximize synergies and seize opportunities to support the business: and therefore aim at being centers of expertise and fostering best practices to create more value for our clients, shareholders and people;
- an organizational structure of Business Units, based on 7 geographical areas – the three main countries (Italy, France and Germany) and the four Regions (CEE , EMEA, Latin America and Asia) – that drive the local strategy and establish a targeted approach to products offered, distribution channels activation and provision of services;
- a Global Business Lines division that serves global clients through a network of brokers and develops customized products;
- coordination mechanisms guaranteeing integration and coordination between Business Units and Group functions and based, in particular, on functional Committees and Guidelines and on two types of reporting lines between Business Units and Head Office functions having different coordination levels.
Factors such as low interest rates, the increasing complexity of the regulatory framework and the evolution in the distribution channels and customer behavior require that our operating platforms – our IT, our people, our facilities – be adapted. We aim at making them more efficient and adapted to new customer and distribution trends and exploiting new opportunities offered by technological development.
Efficiency enhancement is an important target for us and it is possible to achieve through operation processes – conducted by highly motivated and skilled people – optimized towards excellence.
The OpEx program was launched in 2013 and is on target with the objective of saving € 1billion Euro by the end of 2016, achieving almost 50% of target savings by end of 2014. Several Operational Excellence (OPEX) initiatives are being implemented in order to increase the operational efficiency and the quality of our processes whilst supporting the achievement of the cost savings target. These savings will not only enable the Group to “finance” inflation but will also allow Generali to have more resources for further investments. 56 Generali Group - Annual Integrated Report 2014
"We have to develop, launch and run the transformation programs of the operating platform to meet our strategic objectives: Operational Excellence (OpEx), Client and Distribution Excellence and Commercial Excellence".
Carsten Schildknecht, Group Chief Operating Officer
Within the OpEx and under the supervision of the Group Operating Committee, composed of Local COOs and Global Function leaders, Generali is in the process of centralizing IT Infrastructure services into a single service company, launched on July 1st , 2014. Furthermore we are also:
- globalizing the Procurement Function, ensuring the integration of local contracts into one organization and category of global management, the launch of Global Software Delivery Program to optimize software development activities globally;
- engaging in centralization and optimization of space usage and maintenance, with very positive results. The first positive results was in France, in a single urban area in Paris, 26 building were concentrated into one complex.
From an organizational point of view, Generali has established the Group Operating Committee supervising the Generali Operating Platform Strategy which is now fully functional. A mapping, monitoring and dialogue process regarding over 174 projects has been created and is fully operational with the delivery ofsignificant results in local optimization programs.
OpEx operates in collaboration and in support of the Technical Excellence project and its related initiatives, such as behaviour-linked pricing for P&C and fraud detection through statistical analysis.
Within the context of Multi-Channel Distribution we focused on identifying the IT capabilities required, and the opportunities for sharing the capabilities such as lead management, mobility for distributors and clients, customer portals, with the objective to deliver more at a competitive price.
People are a key factor in achieving our strategic objectives. We aim at valuing staff and attracting new staff , highly skilled, open and flexible, able to operate in an international environment and able to manage complexity and cultural diversity. They must be passionate, capable of expressing their full potential and must actively contribute to the Group’s growth through their professional and personal improvement.
We therefore offer top–level leadership development programs, such as:
- Global Leadership Programs (Series, Accelerator, Women Hub), addressed to the members of the Global Leadership Group (GLG) and to Group Executives. These initiatives have the purpose of strengthening strategic thinking and to foster a global mindset , which enables our people to better understand the competitive environment under a customer-centric perspective. They must boost the sharing and the alignment of strategic priorities and our culture and, must build new leadership capabilities, support plans for professional, functional and managerial growth. All together these initiatives develop new fundamental skills for the identification and the development of talents, through structured (and also of succession) plans. Such programs are supported by a digital social learning platform that enables networking and the exchange of know-how, best practices and ideas as well as integrated training activities;
- Pilot Program on Technical Excellence that witnesses the commitment of the Group on investing more on the updating and development initiatives for talents and for other professionals of Generali;
- Leave Your Mark, an initiative addressed to all the employees worldwide and finalized at the selection of a group of young talents working together for the definition of our future strategies.
We consider the diversity of our people as an asset. We adopt an inclusive approach which aims to put into practice our belief that cooperation and the sharing of different cultures, competences and experiences are crucial for our growth. Remarkable in terms of gender, age and culture are the specific focus groups and initiatives with the objectives of increasing the number of people which have an international experience , and the presence of women in leadership positions, reducing the average age of the working population and increasing diversity in general.
We believe that a proper remuneration, together with a benefit package, is a further instrument offered to our people that can strengthen their commitment and motivation in order to reach company targets.
We invest in international mobility projects which allow all employees with specific professional requirements to bring their skills abroad and acquire new skills from international working experiences. Asia, Brazil, Central Eastern Europe, Germany, France and Spain and the network of Generali Employee Benefits are particularly active in promoting international mobility, which has involved 282 colleagues since it was launched in 2013.
"I am convinced that the oppurtinity of sharing the high-quality know-how of our leaders will be a speeding – up factor in our change processes and in our business results."
Monica Possa Group HR & Organization Director