Generali launches GenAI tech hub
European insurer Generali has launched Generali Core Tech, a new technology unit dedicated to overhauling the company's core systems. The hub is set to expand to 150 developers with a focus on leveraging generative AI to support a shared platform rollout and streamline workflows across claims, underwriting, and policy administration.
- This initiative is a key component of Generali's "Lifetime Partner 27: Driving Excellence" strategic plan, which includes a €1.2 to €1.3 billion investment in technology and AI. - The new unit is under the leadership of Group Chief Operating Officer David Cis and will leverage the platform of RGI, a major European insurance software provider. - A primary focus for Generali Core Tech will be the continued development and rollout of the "Insurance in a Box" (IIAB) platform for both Life and P&C, which is already operational in Spain and Switzerland. - The IIAB platform is being extended to Portugal, Hungary, Slovenia, and Croatia, with the initial phase projected to cover approximately 15 million policies group-wide. - This move follows a January 2025 partnership with MIT's Laboratory for Information and Decision Systems (LIDS) to research AI applications in advanced risk modeling and P&C claims assessment. - Generali has already identified over 200 potential use cases for generative AI and has developed an in-house conversational agent named "Chatty" to handle routine inquiries. - The new tech hub will utilize GenAI for practical applications like AI-assisted code generation, automated test case creation, and debugging to shorten development cycles. - This strategy of combining vendor platforms with in-house "software factories" mirrors similar core modernization programs at other major European insurers like Allianz, AXA, and Zurich.
