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The Generali Employee Benefits (GEB) Network is one of the largest and most experienced Employee Benefits networks in the world. Established as a strategic unit of the Generali Group in 1966, GEB is today the world’s leading employee benefits network by size and geographic footprint: through our integrated network of partners, GEB provides locally admitted solutions in over 120 countries.
GEB offers a wide range of products and services multinational employers need to protect their human capital: Group Life, Accident, Disability and Medical covers, as well as Global Pension and Expatriate insurance solutions. From locally admitted policies to cross-border arrangements, GEB provides sophisticated Employee Benefits solutions at local level, and is the world leader in providing international programs such as Multinational Pooling and Reinsurance to Captive.
GEB’s proactive approach to benefits management facilitates coordination and information gathering, helps companies understand the overall value of the benefits they provide to their employees around the world, and enhance their risk management capabilities.
Customers can benefit from the support of 120+ professionals located in the headquarters based in Brussels and in the 13 regional offices spread around the world. This set-up allows us to optimise our Operational agility by leveraging the headquarters core functions (actuarial, reinsurance, IT, Finance, HR..) and the time-to-market capabilities of our Regional offices in charge of sales & underwriting & servicing and client / brokers relationship management.
GEB Value-adding services in Reinsurance to Captive solutions:
Local underwriting expertise:
GEB’s network carriers underwrite EB risks pertaining to local subsidiaries of captive clients with the same prudence and technical expertise as they would for any fully retained risk. Their knowledge of local market conditions and technical indicators is an asset for the captive.
Central underwriting control:
GEB Regional Offices along with the central underwriting team in Brussels review and certify each local quote taking into account the overall underwriting result of the global captive program and the client’s expectations and instructions in terms of local underwriting strategy. In this capacity, GEB effectively acts as the captive’s consulting underwriter.
Fully compliant local insured Employee Benefits contracts:
The advantage of relying on the GEB Network as the fronting vehicle for locally insured EB plans is that each local contract is always issued on a fully admitted basis, thus benefiting from the best possible fiscal treatment and complying with local fiscal, social and labour law provisions.
Relationship management of local subsidiaries, captive company, parent company and their brokers and advisors:
GEB provides the captive with a single point of contact, through its dedicated customer care team in each GEB Regional Office, in order to effectively address any issues pertaining to existing contract maintenance and business development opportunity.
Best in class Business Intelligence tools:
GEB’s range of BI tools and services, such as interactive captive reports, between-quarter reports, analytical tools and online solutions is unmatched in the market. In line with its service excellence, GEB pioneered innovative risk management tools in one of the most crucial areas for employers across the world: healthcare. GEB combined Health Reports on both Paid and Incurred Claims give companies unique insight into the underlying health cost drivers and enable them to take well informed decisions in the design of their global health strategies.
Client’s access to own section of GEB CRM system:
GEB has recently developed a Customer Relationship Management online tool which can be customized to each client’s need and provide additional information on its captive program.
Transparent risk fronting and fee structure:
GEB’s captive accounting is based on a streamlined Profit & Loss format which reflects the underlying Quota Share risk transfer mechanism. This approach provides full transparency and accountability of data. Our fee structure, which includes a breakdown of local reinsurance commissions and central network charges, is equally transparent. With GEB there are no hidden costs or set up fees.
Effective reinsurance protection on fronted risks:
As highlighted earlier, GEB’s comprehensive reinsurance wrapper on its fronted risks, which includes a fully customizable Surplus, aggregate Stop Loss and Catastrophic Excess of Loss, is an effective way to help captives manage their risk appetite.
All GEB deliverables are guaranteed, and all KPI’s and financial penalties pertaining to each GEB service can be formalized via a Service Level Agreement.
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- 21 October 2015