Insurers 'will disappear' amid tech revolution, warns Generali boss
Saturday, 05 30 2015, Category: Insurance and Reinsurance, Country: Europe
Europe’s third largest insurer vows to invest in tech start ups to avoid extinction
Generali chief executive Mario Greco warned insurers will disappear unless they invest in technology, as the Italian insurer plans to plough more than a billion into technology funding.
Generali plans to invest €1.25bn to transform its business over the next four years. The money will be handed to six Silicon Valley venture firms to invest, on behalf of the insurer, in tech firms such as data analysis firms and mobile electronic payment businesses, reports the Financial Times.
Source: Insurance Times - UK