Generali Group: Financial Literacy for Families
Case Studies
Unlocking Potential Through Early Childhood Initiatives
Generali Group’s purpose is to empower people to shape a safer and more sustainable future by caring for their lives and dreams. The global insurer and asset manager has taken a unique approach to extending that mission by unlocking the potential of families with children aged 0-6 who live in vulnerable circumstances.
Generali initiated The Human Safety Net (THSN) in 2017. THSN collaborates with more than 50 partners in 24 countries by combining the strengths of nonprofit organizations and the private sector in Europe, Asia, and Latin America. The initiative delivers programs that help parents gain skills and tools to support the development of their children. These programs can include workshops for parents, home visits by social workers, and family centers where parents and children can spend time playing, learning, and bonding.
Challenge
A large proportion of adults around the world struggle with financial literacy. Within that group, young parents living on low incomes have the lowest financial literacy levels.
Financial hardship often hampers parents’ abilities to support their children with loving and responsive relationships, protection, and security.
Solution
Generali and UNICEF, based on a commissioned study by Aflatoun, saw a gap: While many parenting programs provide tips on nutrition, health, and caregiving, very few provide financial education. Also, few existing financial education programs are tailored to the needs of vulnerable families.
In 2021, The Human Safety Net decided to start a pilot in Italy and Indonesia to test the integration of financial literacy modules in parenting programs in two different settings. Working with Aflatoun International and UNICEF, modules covering topics such as smart saving, budgeting, and borrowing were developed.
Employees play a crucial role in sustaining this initiative, volunteering as program managers and ambassadors who actively contribute to its local implementation. More than 500 Generali employees serve as ambassadors annually, dedicating a total of 30,000 volunteer hours to THSN activities, including fundraising, awareness-building, and engagement with insurance agents.
Impact
Generali has invested over €22 million into early childhood programs through THSN and successfully mobilized an additional €10.7 million from third-party contributors.
The Business Case for Investing in Early Years Education
Generali Group’s work through THSN demonstrates that businesses can play a transformative role in early childhood development while strengthening their social impact strategies. Key takeaways for businesses considering similar investments include:
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Enhancing Corporate Reputation: Investing in early years education strengthens a company’s commitment to sustainable development and social well-being.
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Building Community and Employee Engagement: Programs like THSN foster a sense of purpose among employees, increasing engagement, volunteerism, and corporate loyalty.
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Long-Term Socioeconomic Benefits: Early childhood interventions lead to better educational and economic outcomes, creating a more stable workforce and consumer base in the future.
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Public-Private Collaboration: Effective partnerships between businesses and nonprofit organizations amplify impact and create sustainable solutions for vulnerable communities.
Generali’s investment in early childhood education through The Human Safety Net serves as a compelling example of how businesses can drive meaningful change. By supporting families in their children’s earliest years, companies contribute to a more resilient, equitable, and prosperous society while enhancing their brand and social impact.
The Human Safety Net will be a place for exchanging ideas and dialogue to overcome the major social challenges of today’s world as well as to inspire visitors to take action to unleash the potential of people living in vulnerable conditions.
Philippe Donnet, CEO of Generali Group
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