The Income Protection covers in the world of Employee Benefits: the - - PowerPoint PPT Presentation

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the income protection covers in the world of employee
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The Income Protection covers in the world of Employee Benefits: the - - PowerPoint PPT Presentation

Sep 27, 2023 8 likes •119 views

The Income Protection covers in the world of Employee Benefits: the experience of the Generali Network Vittorio Zaniboni Dresden, April 29 2004 Generali Employee Benefits Who we are Branch of Assicurazioni Generali Head Office

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The Income Protection covers in the world of Employee Benefits: the experience of the Generali Network

Vittorio Zaniboni Dresden, April 29 2004

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  • Branch of Assicurazioni Generali Head Office
  • Headquarters in Brussels
  • Satellite offices in Europe : London, Frankfurt, New Jersey and

Hong Kong

  • Altogether, 65 professionals fully devoted to multinational

Employee Benefits

  • GEB Network present in 70 countries (Generali’s own companies

in 35 countries)

Generali Employee Benefits

Who we are

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GEB - The geographical spread

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Generali Employee Benefits

What we do

  • Complete range of life insurance (risk + pension) in each

country

  • Traditional multinational pooling of employee benefits risks
  • Innovative multinational captive arrangements (for employee

benefits risks)

  • Expatriate programs
  • Assistance and relocation services
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The income protection cover in the EB world

  • A very wide scope of cover:

– the short term benefits – the long term cover

  • Differencies in terms of risk profile and product design
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The links with the social security

  • Situation A

– The benefits payment is linked to the attitude and decision of the social security authorities (Spain, Italy, Holland...)

  • Situation B

– The ultimate decision sits with the claim settler of the private insurance company (UK, Ireland...)

  • Consequences on the risk profile certainty and the role
  • f the insurance company
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Peculiarities of the IP covers in the EB business for multinational companies

  • Better security conditions on the workplace
  • Higher awareness of the importance of the EB cover

and their role

  • Higher severity and frequence of stress related claims
  • Higher benefits and moral hazard issues
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Employer liability and IP cover: a difficult match

  • The problems of the policy exclusions
  • The catastrophy headache
  • The dismissal paradox
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Claim management: a key to success

  • The importance of the cooperation with the employer
  • The 14-days rule
  • The experience of Generali UK
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... the insider view...

IP covers are growing in importance on the EB scenario but are showing an increasing interdependence with the economic, social and political situation of the various countries

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Thank you