Generali Global Corporate and Commercial (GC&C) has inked a strategic partnership with NHAZCA to boost its existing capabilities in underwriting, risk engineering and loss prevention, and claims management.
NHAZCA, a spinoff from the Sapienza University in Rome, will offer its expertise on satellite, aerial and terrestrial sensing services to the Generali’s P&C unit.
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NHAZCA’s know-how in Satellite Synthetic Aperture Radar (SAR) will be applied in areas such as Nat Cat & Earthquake, structural health monitoring and landslides related risks.
Generali Global Corporate & Commercial CEO Manlio Lostuzzi said: “Risk Engineering & Loss Prevention, together with Underwriting and Claims, have always been about expert data management and our industry is now on the verge of becoming even more science based.
“Thanks to the collaboration with NHAZCA, GC&C strengthens its ability to meet the most sophisticated clients’ insurance needs, by further preventing and mitigating their risk exposures and enhancing cost-effectiveness in the insurance coverage.”
Satellite SAR is said to be amongst the advanced and highly performing remote sensing technologies that allows to control and reduce risks associated to construction and property.
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By GlobalDataThis microwave-based technology is said to be more suitable than standard optical satellite images.
It detects the spatial and structural conditions of land portions or large infrastructures with millimetric accuracy.
Additionally, the risk analysis can recover and examine the sites’ status and its evolution over time using historical data recorded by the satellites. This is said to offer the insurer a complete data-based and time-based picture.
NHAZCA CEO Paolo Mazzanti said: “It is a pleasure for NHAZCA to collaborate with Generali GC&C, having the opportunity to share our unique expertise in satellite and geohazard risk assessment with such a big player.”
He added: “Our services will certainly benefit from this collaboration and we are confident our solutions can acquire even more value in the market, establishing NHAZCA as a partner to rely on for the most critical and complex risk assessments.”
Last May, Generali GC&C partnered with insurtech Descartes Underwriting to enhance its offerings and existing capabilities in parametric insurance.
