Intesa Sanpaolo Assicura Boston Consulting Group Matrix

Health and Accident insurance is a strong performer for Intesa Sanpaolo Assicura, driving significant growth within the non-motor segment. This area saw a substantial 13.1% premium increase in the first quarter of 2025, underscoring rising consumer interest in personal protection.

The company's dedicated strategy for the protection sector, branded as 'Intesa Sanpaolo Protezione', is clearly resonating with the market. This focus is instrumental in capturing the increasing demand for health and accident coverage, solidifying their market position.

Stars represent the most promising and high-growth segments for Intesa Sanpaolo Assicura. Unit-Linked Life Policies, with a remarkable +62.2% surge in new production in Q1 2025, clearly fit this category. The increasing market preference for these products in Italy, projected to grow at 10% annually, solidifies their star status.

The company's strategic focus on ESG/Sustainability-focused insurance products also positions them as stars, aligning with growing consumer demand for responsible finance. This aligns with the Group's 2022-2025 Business Plan targeting leadership in Wealth Management, Protection & Advisory.

Health and Accident insurance, demonstrating a substantial 13.1% premium increase in Q1 2025, is another key star. This growth is fueled by a dedicated strategy, 'Intesa Sanpaolo Protezione', effectively capturing rising consumer interest in personal protection.

Standard Property & Casualty (P&C) insurance, encompassing areas like basic motor and traditional home insurance, represents a mature segment for Intesa Sanpaolo Assicura. Despite being in a slower growth phase, these lines are crucial cash cows due to their high market penetration and consistent premium generation. For instance, in 2023, the Italian motor insurance market, a key P&C segment, saw premiums stabilize, underscoring the steady revenue these products deliver.

Traditional life insurance policies, while seeing less new business than unit-linked options, remain a significant contributor to Intesa Sanpaolo Assicura's overall gross life production. In 2024, these policies continued to represent a mature segment where the company enjoys a strong market position.

This established presence translates into stable and predictable cash flows, a hallmark of cash cows. Despite potentially slower growth rates, the consistent returns from this segment are vital for funding other business areas and investments.

Intesa Sanpaolo Assicura's bancassurance model is a powerful engine within the Group, particularly in Italy. This integrated approach leverages the bank's extensive branch network, a distinct advantage that underpins its significant contribution to the Group's gross current profit.

This mature distribution channel effectively captures a high market share for insurance products. By cross-selling to Intesa Sanpaolo's vast client base, the model ensures consistent sales and broad customer reach, translating into robust and stable commission and insurance income.

Standard Property & Casualty (P&C) insurance, encompassing areas like basic motor and traditional home insurance, represents a mature segment for Intesa Sanpaolo Assicura. Despite being in a slower growth phase, these lines are crucial cash cows due to their high market penetration and consistent premium generation. For instance, in 2023, the Italian motor insurance market, a key P&C segment, saw premiums stabilize, underscoring the steady revenue these products deliver.

Intesa Sanpaolo Assicurazioni provides a suite of pension and supplementary retirement products, catering to the enduring demand for post-employment income security. This segment taps into a fundamental societal need within a well-established market, fostering consistent revenue streams and a dedicated customer base.

These offerings, while not experiencing rapid expansion, represent a dependable source of profitability and contribute significantly to the company's total assets under management. For instance, in 2024, the European pension fund market continued its steady growth, with assets under management reaching approximately €13.5 trillion, demonstrating the inherent stability of this sector.

• Stable Demand: The aging population across developed economies ensures a persistent need for retirement savings solutions.
• Predictable Inflows: Regular premium payments and long-term investment horizons create a reliable revenue stream.
• Asset Growth: These products contribute to an increasing pool of assets under management, enhancing the company's financial base.
• Customer Loyalty: The long-term nature of retirement planning fosters strong customer relationships and reduces churn.

Intesa Sanpaolo Assicura's established corporate insurance solutions are a cornerstone of its offerings, catering to businesses with a wide array of standard and widely adopted risk management products. These offerings leverage the bank's extensive corporate network, fostering deep, long-standing client relationships.

This segment boasts a high market share within a mature market, demonstrating the enduring demand for these foundational insurance products. In 2024, the corporate insurance sector, broadly speaking, continued to show resilience, with premiums for property and casualty insurance remaining robust. Intesa Sanpaolo Assicura's established solutions are key contributors to this trend.

These products consistently generate significant revenue, underpinning the financial stability of the insurance division. Their predictable income streams make them reliable performers, akin to cash cows in a business portfolio. For instance, in the first half of 2024, Intesa Sanpaolo Assicura reported a net profit of €331 million, with its insurance business playing a vital role in this performance.

• High Market Share: Dominant position in the mature corporate insurance segment.
• Consistent Revenue Generation: Reliable income stream from established products.
• Financial Stability: Contributes significantly to the overall financial health of the insurance division.
• Leveraged Network: Benefits from Intesa Sanpaolo's extensive corporate banking relationships.

These products are tied to outdated IT infrastructure, hindering Intesa Sanpaolo Assicura's digital advancement and integration capabilities. Their reliance on legacy systems means higher operational expenses and a less satisfying customer journey compared to modern, digital solutions.

With a shrinking market share and substantial cost structures, these offerings are demonstrably unprofitable. For instance, as of Q1 2024, products built on systems predating 2010 represented 15% of the IT maintenance budget but contributed only 5% to new business revenue, highlighting their economic drain.

Dogs within Intesa Sanpaolo Assicura's portfolio represent products with low market share and low growth potential. These offerings are often characterized by declining demand, high operational costs, and minimal profitability, making them a drain on resources. For instance, legacy P&C policies that haven't been updated to meet current consumer needs, such as lacking cyber protection, exemplify this category.

These products struggle to compete in a dynamic insurance landscape, leading to shrinking customer bases and limited revenue generation. In 2024, the global insurance market saw innovation drive growth, but these older products, like basic travel insurance without digital nomad coverage, failed to keep pace, contributing to their dog status.

The financial implications are significant, as these products consume resources that could be better invested in high-growth areas. As of Q1 2024, products reliant on outdated IT infrastructure, predating 2010, accounted for 15% of IT maintenance costs while generating only 5% of new business revenue, underscoring their inefficiency.

Managing these underperforming assets is crucial to optimize Intesa Sanpaolo Assicura's overall business strategy and financial health. Divesting or significantly revamping these offerings is often necessary to free up capital and focus on more promising market segments.

Intesa Sanpaolo Assicura is strategically embedding Generative AI into its digital transformation, aiming to revolutionize insurance services. While concrete Generative AI-powered products are still emerging, the company sees immense potential in areas like hyper-personalized policy recommendations and streamlined claims handling, anticipating significant future growth.

Currently, the market share for Generative AI-driven insurance offerings from Intesa Sanpaolo Assicura is minimal, reflecting the nascent stage of these technologies in the sector. However, the company's substantial investments signal a commitment to capturing a significant portion of this high-potential future market, projected to reshape customer engagement and operational efficiency.

Intesa Sanpaolo Assicura's new whole-life policy, 'Patrimonio Garanzia,' targets the growing demand for secure investments. While it aims to capture a portion of this market, its ultimate success and market share are still developing, placing it as a question mark. Significant marketing and distribution efforts are key to its future performance.

The company's ventures into instant and pay-per-use digital insurance, exemplified by its insurtech investments like Yolo, tap into a high-growth sector driven by digital adoption. These offerings, covering areas like travel and smartphones, represent an early-stage engagement with substantial future potential, currently holding a modest market share.

Intesa Sanpaolo Assicura's exploration of Generative AI in insurance is in its nascent stages, with minimal current market share for AI-driven products. However, substantial investments signal a strong intent to capture future growth in areas like personalized recommendations and claims processing.

The bespoke international insurance solutions for High Net Worth Individuals (HNWI) by Intesa Sanpaolo Private Banking cater to a growing global segment. While initial market share for these niche products may be low, the expansion potential is significant, especially considering the 4.7% growth in the global HNWI population in 2023.

Intesa Sanpaolo Assicura's focus on protection products integrating ESG factors, such as climate-resilient home insurance or health and wellness policies, addresses rising consumer demand. The market for these innovative ESG-linked products shows promise, with trends like parametric insurance indicating a receptive audience.