HOUSE OF INSURTECH SWITZERLAND ( HITS )
456 ones .” Generali is a firm believer in ‘ open innovation ’ and seeks out collaborators who champion it in a similar way . In practice this takes on both external and internal dimensions : externally , the company leverages wide networks of partnerships with incubators , accelerators and open innovation platforms to gain valuable insights into insurance trends , build a synergistic cultural perspective with smaller companies , and source solutions for specific projects . Internally , meanwhile , bespoke support structures are created to serve the dual needs of Generali and its partners , while
state-of-the-art ‘ fast-track ’ procurement processes and innovation funds mitigate the historical difficulties of partnering with startups .
Although Generali is meticulous in its planning , this is not to say that the process is without risk on both sides of the equation , as Bison explains : “ We tend to prefer evaluating startups operating in at least one of our major markets across Europe , Asia and Latin America , and that already have minimum market traction ( few corporate clients and some access to revenue ). In this way we partially reduce the risks that are , in any case , inevitable when working with early stage
FEBRUARY 2021