Products with a social and environmental value
These products respond to trends linked to the evolution in the composition of households, to the loss of purchasing power of the most vulnerable sections of the population, to unemployment and job insecurity, and to the growing impact of climate change.
As part of the insurance solutions in the Non-Life business, the following can be emphasised as having a special social and environmental significance:
Safeguarding of purchasing power (with payments by monthly instalment at no additional charge, extended to all products, including Life products and those for SMEs, and the guarantees SalvaBenessere [save your welfare] and SalvaPremio [save your premium])
Integration with public welfare (with Sickness Business and some guarantees in the Accident Insurance Business, such as the Comatose State Guarantee)
Support for new players in the world of work (with the products Attività Smart, in particular the offer for start-ups and new V.A.T. number holders
Solutions designed to support the adaptation to climate change (for example with the parametric guarantee “SalvaStagione” (save the season), products to protect photovoltaic systems from weather and climate events, coverage against climate events for the farming industry)
Restoration of the initial condition (guarantees for floods and earthquakes, specific compensation not in cash for companies)
Coverage for environmental liability, which protects from damage due either to accidental or gradual pollution, and compensates damage to third parties resulting from pollution and the relevant remediation and restoration
By identifying distinctive insurance solutions that combine economic growth and social and environmental value, the Group creates shared value with its stakeholders and contributes to achieving the Sustainable Development Goals.
These products respond to dynamics linked to changes in the composition of households, to the loss of purchasing power of the most vulnerable sections of the population, to unemployment and job insecurity and to the growing impacts of climate change.
In 2019, premium income from the sale of such policies amounted to Euro 2,416 million, equal to 25.5% of direct income (with an increase of 2.9 percentage points over the previous year).
To ensure greater granularity, this representation does not include premiums relating to telematic devices.
The impacts of black boxes, as also highlighted in the previous chapters, regard both social aspects (in terms of security and combatting fraud) and environmental ones (promotion of sustainable behaviours through mileage based rates).