The Partnership between Cattolica Assicurazioni and Assofranchising is under way
The agreement aims to consolidate the supply of products dedicated to entrepreneurship under franchise, in order to offer tailor-made solutions for franchisors and franchisees, in a general picture of under-insurance among Italian SMEs.
Milan, 5 July 2021 - The latest ISTAT data (April 2021) estimate an increase in both the consumer confidence index (from 100.9 to 102.3) and the business confidence index (from 94.2 to 97.3). With regard to the latter, there is an improvement in confidence in all areas observed. In particular, the index rose from 101.9 to 105.4 in manufacturing and from 147.9 to 148.5 in construction. The index rose from 85.4 to 87.1 in market services and from 91.2 to 95.8 in retail trade. This scenario appears positive and also involves the self-employment under franchise formula, an opportunity that deserves dedicated products, including from an insurance perspective. This is the sense of the partnership formed between Cattolica Assicurazioni S.p.A, one of the main players in the Italian insurance market, and Assofranchising, the association that protects and defends the economic interests of the associated franchising networks: As the main partner, Cattolica Assicurazioni will offer companies and their franchisees specifically designed insurance products. The starting point is a significant figure: the distribution of insurance policies among Italian companies remains limited and differentiated by size class. It exceeds 50% only for the main risks (fire, theft and civil liability) while remaining very low for specific cover such as products, the environment and business disruption civil liability and, in general, for small enterprises (<9 employees).
“It is also from this perspective that we want to move closer to the franchise business fabric,namely to help change the corporate culture by stressing the importance of risk prevention. We are witnessing a revolution in the world of work, with the entry of new emerging risks such as those related to pandemics, which rank third in the top ten in Italy with a percentage of 28%, behind business disruption with 45% and cyber risk in first place with 54%,” says Carlalberto Crippa, Business Development & Marketing Director of the Cattolica Assicurazioni Group. “It is also interesting to note that while sector-specific risks exist, “business disruption” ranks first in the top five for all sectors, from agriculture to transportation. This shows that we will have to move increasingly towards dedicated solutions for people deciding to set up their own businesses, helping to identify the solutions best suited to their needs. This is why we have chosen to support Assofranchising in this new challenge, which focuses on the people deciding to embark on this new professional adventure.”
“Assofranchising is developing a series of strategic actions this year to better support franchisors and franchisees in the post-pandemic scenario. Insurance products undeniably play a key role in recovery and development and we are very happy to have Cattolica Assicurazioni alongside us. Together, we aim to support entrepreneurs with structured offers focused on individual needs and specific business requirements. Franchising involves a variety of industries, from mass retail to services, which have tackled the pandemic in different ways: hence the need to identify a partner that can sustain the challenges ahead in a personalised way,” says Alberto Cogliati, General Secretary of Assofranchising.
Cattolica Assicurazioni has created Active Business, a policy that brings together all the protection needs of commercial, manufacturing and services companies, such as, for example, providing protection for business premises, goods and equipment against the main property risks, for both direct damage and for business disruption, including protection from liability arising from business activity vis-à-vis employees and customers. Cattolica Assicurazioni also protects companies against cyber risk, for the damage that a cyber attack could cause in terms of economic losses and the costs of restarting businesses and for damage caused to third parties. Lastly, products have been designed to protect companies in the event of the loss of their key personnel, for the investment of excess liquidity, for the allocation and management of what is due to their directors and employees at the end of the relationship (employees’ severance indemnity and directors’ severance indemnity) and for retirement. These are some of the solutions developed by Cattolica Assicurazioni for entrepreneurs to help them safely manage their businesses: “We want to raise awareness that it is better to prevent risk in order to manage it more effectively. It is easier to start again after a cyber attack if you already have the right insurance cover,” says Crippa. “We act in a synergistic way,” notes Cogliati, “to allow those who choose or have already chosen the self-employment formula to have all the tools they need to become an entrepreneur at their disposal: from policies to access to credit, Assofranchising is a privileged partner of franchisors, helping future franchisees to dispel their doubts and fears”. Lastly, with Active Benessere, Cattolica Assicurazioni has designed solutions for the protection of the health and well-being of company employees. The policy, which is wide-ranging and modular, offers services and benefits dedicated to prevention, diagnosis, treatment and convalescence. And given the times we live in, it is better to protect yourself early.