Italian insurer Generali has established Generali Core Tech, a software factory to drive its technology transformation under the Lifetime Partner 27 plan, investing €1.2bn–1.3bn in AI and technology. The factory will create scalable platforms to support business growth and enhance customer value with 150 specialists using advanced methodologies and GenAI tools.

Generali Core Tech will oversee and improve Insurance in a Box (IIAB), a core insurance platform for life and property and casualty operations, expanding from Spain and Switzerland to Portugal, Hungary, Slovenia, and Croatia, covering roughly 15 million policies. The factory will leverage RGI’s technology platform for further development.

Generali aims to enhance technological flexibility and economies of scale with IIAB, supporting group-wide synergies and technological advancements. Generali group COO David Cis emphasized the focus on group synergies, technological transformation, and the use of AI/GEN AI to revolutionize software development processes.

Giulio Terzariol was appointed director general and group deputy CEO by Generali last November, leading insurance operations and Banca Generali under the group CEO’s coordination. Generali’s Core Tech initiative aims to drive a comprehensive tech overhaul across the organization, strengthening leadership in key skill development and new systems development.

Read more at Yahoo Finance: Generali launches Core Tech to drive group-wide tech overhaul