1. Rome, October 17 th 2013 Communication, a Key to Successful Risk Management Filippo Cinelli

2.  Communication in the insurance industry  Risk Management and Communication  Innovation and Risks: the «green building» case  Innovation and Risks: the legacy of the Titanic  The winged lion: a brand to cover risks Summary 1

3. Communication Flow in the Insurance Industry 2

4. As risks become more complex the need of communication increases 3

5. Corporate Clients’ needs Corporate Clients 4

6. Simple Relationship entails Simple Communication Flow Client BrokerInsurer 5

7. Parallel Relationships entail Parallel Communication Flows HR Manager Broker Employee Benefits Insurer Employee Benefits Risk Manager Broker P&C Insurer P&C Security Manager Broker Assistance Insurer Assistance 6

8. Complex Relationship entails Complex Communication Flows Client BrokerInsurer 7

9.  Communication in the insurance industry  Risk Management and Communication  Innovation and Risks: the «green building» case  Innovation and Risks: the legacy of the Titanic  The winged lion: a brand to cover risks Summary 8

10. Mature risk management drives financial results Compound annual growth rates of EBITDA 2004-2011 by risk maturity level* 2011 YTD reported as of 18 november 2011. Source: Ernst & Young Advisory Services 2012. 9

11. What differentiates top performing companies? Enhance Risk Strategy through proper communication Embed Risk Management: reporting and spreading information Turning risks into results Improve Controls and Processes: Standardized reporting tools and language Optimize Risk Management Functions: Reporting systems and standardized reporting tools Enable Risk Management | Communicate Risk Coverage. Source: Ernst & Young Advisory Services, 2012 10

12. Also insurers and brokers face communication issues Communication management framework Clear Roles and Responsibilities Insight into perceptions and stakeholder’s understanding Hand on mentality and Useful tools Reporting templates and procedure Monitoring development gaps in understanding 11

13.  Communication in the insurance industry  Risk Management and Communication  Innovation and Risks: the «green building» case  Innovation and Risks: the legacy of the Titanic  The winged lion: a brand to cover risks Summary 12

14. Innovation and Risks 13 Opportunities for innovation in products, services and operations have increased as a result of economic turbolence. Companies must refocus their innovation efforts: companies face greater constraints on budget and resources and need to allocate them on projects which are more likely to succeed. Innovation implies facing new risks. Companies need to improve their internal and external communication. Transparency is instrumental to avoid unexpected situation and unexpected risks.

15. Benefits and Risk Factors in Green Buildings 14. Source:Durmus Pedini, A. and Ashuri, B. 2010 Benefits  Financial benefits  Environmental benefits  Health and Community benefits  Market benefits  Industry benefits Risks  Financial risks  Market risks  Industry risks  Performance risks  Legislative risks

16.  Communication in the insurance industry  Risk Management and Communication  Innovation and Risks: the «green building» case  Innovation and Risks: the legacy of the Titanic  The winged lion: a brand to cover risks Summary 15

17. Legacy of the Titanic 16

18.  Communication in the insurance industry  Risk Management and Communication  Innovation and Risks: the «green building» case  Innovation and Risks: the legacy of the Titanic  The winged lion: a brand to cover risks Summary 17

19. From the two-headed eagle… 1831 18

20. …to the Lion with sword… 1848 19

21. …to the winged Lion Today 20

22. How Generali looks like today is present in over 60 countries in the world serves more than 65 million customers worldwide generated a total premium income of € 70 billion in 2012 operates through a sales network of over 82,000 professionals is one of the world’s 50 largest companies* employs 80,000 people throughout the world Update: September 2013 *Source: Fortune Global 500 21

23. Generali business strategy Reshaped approach to business Execution Plan in Corporate & Commercial Grow presence in C&C segment, serving medium and large companies at global level Portfolio management: its growth and diversification (client segment / geography / occupancy) Portfolio management: its growth and diversification (client segment / geography / occupancy) 1. Target sales and marketing 2. Active management of Global Brokers and Broker Networks 3. New approach: client and broker relationship 4. Product and Services innovation 1. Target sales and marketing 2. Active management of Global Brokers and Broker Networks 3. New approach: client and broker relationship 4. Product and Services innovation Higher delegated authority; increased net retentions and capacities Higher delegated authority; increased net retentions and capacities Focus on core insurance business, with greater contribution from P&C Focus on core insurance business, with greater contribution from P&C Solid capital position New approach to clients, better client segmentation and product and service innovation New approach to clients, better client segmentation and product and service innovation Consistent technical excellence; simplified structure and clear accountability Source: Generali Group Investor Day Presentation, London, January 14° 2013

24. Global Corporate & Commercial in a nutshell over 800 professionals in Milan, London, Madrid, Paris, Prague, New York and Hong Kong an extended newtork of over 100 risk control engineers worldwide customer and broker service in over 90 countries GC&C generated € 1.7 billion premiums in 2012 Update: September 2013 *Source: Fortune Global 500

25. Generali Global Business Lines Corporate Clients 24

26. Thank you! 25 So…Communicate, Communicate and Over-Communicate!