Intesa Sanpaolo opens "Area X" in Turin
Intesa Sanpaolo Assicura, the Intesa Sanpaolo Group’s Insurance Company operating in the Non-Life sector, has opened Area X in Turin, a public space at its registered offices in via San Francesco d'Assisi, where it proposes to disseminate a culture of insurance using original methods.
Thanks to virtual reality technology, visitors are invited to share enthralling, entertaining interactive experiences of everyday situations (both in the home and outside of it, during journeys, in town and in hundreds of other situations, through diverse scenarios based on the choices made) in order that they may comprehend the risks and unforeseen circumstances that may arise, of the consequent need for protection for themselves, their families and their property, and of the importance of informed choices in order to meet the needs for protection from such risks. All of this is accompanied by stories that help further a culture of risk protection.
“Intesa Sanpaolo’s commitment to the insurance business and to the development of Turin as a hub of excellence for the insurance sector, is further strengthened”
In the panel dedicated to equity crowd funding, Mario Costantini, CEO of Neva Finventures (Corporate Venture Capital vehicle, within the purview of Intesa Sanpaolo Innovation Center), explains that Neva has completed the first phase of its journey “aimed at investing initial capital of approximately 30 million euro. We’ve invested 9, 7 of which directly and 2 in instrumental funds, resolved in favour of other investments and discussed yet further ones. These include the operation performed concerning the Officine Grandi Riparazioni (OGR), with Techstars, a fund that will enable quality start-ups to be selected for investment purposes - start-ups capable of becoming important market players and of creating jobs over a 5/10-year period - in order for them to develop in conjunction with today’s and tomorrow’s players in the mobility sector”. According to Costantini, the “histories” of the start-ups “begin with an initial meeting with investors, and receiving the right feedback from trustworthy figures during the launch phase is of key importance”. Guido De Vecchi - general manager of the Intesa Sanpaolo Innovation Center - during the meeting focusing on Smart Mobility reminded those present that the Bank “aims to become a driver of growth and to contribute to the development of innovation”. Fabio Matti - global head of Industrials at Intesa Sanpaolo - then pointed out that “the expected profits of the major car manufacturers from the development of smart mobility are extremely high, and will mainly derive from non-traditional services and products (which require substantial investments to be made). This leads manufacturers to take a place in an eco-system of fluid cooperative ventures, such as agreements and joint ventures, with traditional operators and partners from the technological world”.
Within the insurance segment, Intesa Sanpaolo’s objectives are ambitious. Through the Insurance Division headed by Nicola Maria Fioravanti, it is already the Italian leader in the Life Insurance business, and aims to be the same in the Non-Life business (other than third-party car insurance) as well, where its market penetration is constantly growing. In the first half of 2019, the segment made net income of 335 million euro, thus accounting for 10% of the Group’s operating result before tax.