Generali Employee Benefits Network - GEB > Products

GPP

GWG

GCP

GAC

Multinational Pooling is the action to combine a multinational company’s employee benefits insurance contracts established in various countries into one unique account (or Pool) for the purposes of experience rating.

A Pool is set up through the signature of an agreement between the multinational company’s Head Office and Generali, and involves no extra-costs and no penalties in case of cancellation. Moreover, there is no disruption at local level, since employee benefits schemes in each country are not affected and contracts are issued in accordance to local laws and regulations.

The Generali Pooling System underlies some basic principles:

Each local contract is fully transferred to Generali HO via reinsurance channels at the end of each policy year;

Generali HO converts all local currencies into a single pooling currency;

Generali HO compiles a Centralized Account for the client including : Total Premiums, Total Claims, Total Local Profit Sharing, Total Commissions and Total Administrative Charges;

The multinational dividend originating from the total pooling balance is paid back to the client.

The main advantages of pooling are:

A better coordination of employee benefits plans, through the centralised overview of local benefits schemes and the access to international expertise;

A constant flow of information back to the company HO through a unique interface;

A close control on local costs allowing an economy of scale where dividends are paid back in case of favourable claims patterns and the local premium margins are reduced thus delivering substantial savings in the benefits’ costs;

The possibility to benefit of more flexible local underwriting conditions.

GEB offers 4 types of pooling:

GPP - Generali Premiere Pool Plan

GWG - Generali Worldwide Group Plan

GCP - Generali Contingency Pool Plan

GAC - Generali Accident Contingency Plan