Generali Global Corporate & Commercial (GC&C) has partnered with insurtech firm Descartes Underwriting to enhance its offerings and existing capabilities.
Descartes Underwriting specialises in weather risk modelling and data-driven risk transfers.
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The partners will leverage image recognition and machine learning, combined with data sources coming from satellites, weather stations or IoT, to provide new parametric insurance solutions.
These solutions can provide transparency as well as smoother and faster claims management.
The on-going Covid-19 pandemic which has led to a travel ban has made it difficult for the insured to travel to any place.
It is during these unprecedented times when they need to make insurance claims the most but are unable to do so.
Therefore, GC&C and Descartes are offering parametric insurance, which allows digital and remote claim assessment at its core, enabling claims detection and payouts to continue as usual.
Generali Italia CEO Marco Sesana said: “Combining our skills with Descartes we will develop insurance solutions with innovative and technologically advanced services.
“We want to offer a high quality, customised experience to our corporate customers in Global Corporate & Commercial.”
Generali global corporate & commercial CEO Manlio Lostuzzi said: “At GC&C the challenges of our clients are our business, and even in an uneasy period like this we want to continue offering concrete answers to protect and serve them at the best.”
