Italian insurer Generali has created Generali Core Tech, a group software factory intended to advance its technology transformation.
The move is part of the company’s Lifetime Partner 27: Driving Excellence plan, which outlines AI and technology investment of €1.2bn–1.3bn.
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Generali Core Tech is intended to create scalable, shared platforms that support business expansion and deliver greater value to customers and partners.
The unit will function as a centre of excellence staffed by around 150 specialists using advanced development methodologies and GenAI-based tools, working alongside local business teams.
The new software factory will oversee and enhance Insurance in a Box (IIAB), a common core insurance platform serving life and property and casualty operations.
Already operational in Spain and Switzerland, IIAB is being rolled out to Portugal, Hungary, Slovenia and Croatia, initially covering roughly 15 million policies across the group.
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By GlobalDataGenerali Core Tech will build on the technology platform of RGI, an insurance software provider active in Italy and across Europe.
Generali said IIAB has improved technological flexibility and delivered economies of scale and scope across its insurance activities since its introduction.
Generali group chief operating officer David Cis said: “We are excited to launch Generali Core Tech as a further example of our focus on group synergies and technological transformation as part of the ‘Lifetime Partner 27: Driving Excellence’ plan. Generali Core Tech, together with RGI, will continue to evolve the ‘Insurance in a Box’ platform shared across multiple business units.
“This will allow us to strengthen our leadership in key skills development, and support local teams in new systems development, and strengthen the use of AI/GEN AI [generative AI] in radically changing software development processes.”
Last November, Generali named Giulio Terzariol as director general and group deputy CEO, reshaping its leadership structure.
Terzariol is responsible for insurance operations and Banca Generali, working in coordination with the group CEO.
