Frequently asked questions (FAQ)

What is the structure of your Network?

The Generali Employee Benefits (GEB) Network is one of the largest and most experienced networks and has been coordinating international employee benefits programmes for multinationals for more than 50 years. In keeping with Generali’s mission to be a trusted leader in international employee benefits, a dedicated strategic business unit (GEB) was established in Brussels, Belgium as a separate entity to serve as the worldwide head office for all international employee benefits operations. In 2019 the headquarter has moved to Luxembourg where GEB has set up a new branch. The GEB Network provides worldwide risk evaluation, full technical support, and central co-ordination of employee benefit plans to more than 1,500 international corporate clients. Through our team of International Benefits Specialists, we provide our clients with a prompt and personalised service that they expect. The GEB Network utilises a three-tiered approach (Central, Regional and Local) to provide high quality service to its Clients. This approach allows GEB to maintain a consistent, high standard of service locally and centrally. The GEB head office is supported by regional offices worldwide: Brussels, London, Frankfurt, Prague, Parsippany, San Francisco, Atlanta, Hong Kong and Mumbai. The GEB Network is present in more than 120 countries with over 120 local insurers. The GEB Network is based entirely on reinsurance allowing the global portfolio’s risk to be transferred and managed centrally. The centralisation of risk allows for increased control over local service and activity, and permits GEB to offer flexible underwriting and financial terms and conditions to multinational Clients.

How do you measure and manage the quality of your Network companies?

All Generali owned insurers and correspondent Network insurers comply with the service standard requirements imposed by the GEB Head Office and are in line with local market standards. Each local insurer signs with GEB a Network Cooperation Agreement (NCA), a set of documents that outline the scope of the partnership between GEB and its local insurers in order to provide timely and accurate service to clients. The NCA includes a comprehensive set of service deliverables which each local insurer shall guarantee to GEB clients at local level, as well as deliverables pertaining to the relationship between each local insurer and GEB. Through the NCA, GEB’s commitment as a customer services enabler is brought to a higher level of quality, timeliness and accountability over the widest possible key performance indicators at local and central level, which are incorporated in a bespoke Service Level Agreement for GEB clients. Additionally, GEB Regional and Area managers regularly visit our local Network partners, at least on a quarterly basis, to monitor the reinsured business and to identify and address local servicing issues with our clients and intervene when necessary.

In which countries do you provide coverage and which coverages do you provide?

GEB provides group covers (Life, Disability, Accident, Healthcare, Pension) in over 120 countries.

What is the interest of GEB in giving the margins back to their clients?

The Pool is a common interest for clients and GEB. It is a win-win situation that allows the clients to better control their Employee Benefits policy and efficiently manage their Employee Benefits cost worldwide and GEB to enhance the market share and retention rate in many territories.

Is there an additional cost to pay to set up a Pool?

No, our cost to service and manage the pool is simply deducted by the premiums already paid at local level. There is no upfront cost to pay to GEB. 

What is a 'Stop Loss'?

Stop Loss: This is one of the protections that GEB offers to its pooling clients in order to limit losses deriving from individual peak claims or aggregate claims. The Stop Loss protection cuts losses on an aggregate level.

This limits a negative experience balance at the end of the accounting period. The coverage applies when the negative experience balance amount exceeds a pre-agreed level expressed as a percent of the pooled premium volume. The Stop Loss takes effect no matter what kind of claims have actually occurred (a series of small claims, a few high claims, or a mixture of the two).

What is the 'Pooling Point'?

The Pooling Point is the name given by GEB to the Individual Excess of Loss protection which is available on GEB's international arrangements in order to limit peak risks and protect the pool or captive results from large individual claims deriving from unusually high insured sums.

What is the environmental policy at GEB?

The Group Policy for the Environment and Climate (2014) reiterates the commitment of Generali in safeguarding the environment and includes the guiding principles by which the strategies and goals of Group companies’ Environmental management must abide in order to ensure:

- Protection of the environment

- Prevention of pollution

- Protection and conservation of biodiversity

- An appropriate response to the challenges posed by climate change

In order to make the Policy operational and pursue continuous improvement of environmental performance, contribution to the fight against climate change caused by greenhouse gas emissions must be made. The Generali Group has identified the following areas of intervention for which specific indicators, and respective targets, have been selected:

- Reduction of its own business’ environmental impacts

- Integration of environmental and climate aspects in investment strategies; - promoting and increasing awareness of environmental and climate risks

- Engagement in climate policy

- Disclosure and transparency

Has your organisation set any targets for reducing the environmental impacts of its operations?

The Group set the following targets for reducing the environmental impacts, to be achieved in the period 2013-2015: Energy: 5% reduction in per capita energy consumption; quota of electricity from renewable sources above 75%. Paper: 5% reduction in paper consumption; 95% environmentally-friendly paper. Water: 5% reduction in per capita water consumption. Waste: 80% of waste collected separately. Greenhouse gas emissions: 5% reduction in greenhouse gas emissions from Scope1 (heating fuels and kilometres travelled by company fleet) and Scope2 (electricity and district heating).

 Moreover, a long-term target for GHG emissions was recently set by the Group: 20% reduction of GHG emissions by 2020 (base year 2013). All objectives and targets concerning Corporate Social Responsibility issues (including the environment) are listed in the public documents "Charter of Sustainability Commitments" and its annex "Sustainability Objectives and Commitments for 2013-2015". To find out more, please refer to http://www.generali.com/our-responsibilities/our-commitment-to-the-environment-and-climate.html