Unipol promotes a mature and structured risk culture as a key pillar of its ERM framework, ensuring that risk awareness is embedded across the entire organisation and aligned with the Group’s strategic objectives and long-term sustainability.
At the Board level, the Chairman ensures that Directors and Statutory Auditors, following their appointment and throughout their term of office, participate in initiatives designed to equip them with comprehensive knowledge of the industry in which the Group and its subsidiaries operate. These initiatives cover corporate dynamics, industry evolution, and the relevant regulatory framework. Training sessions are typically conducted throughout each fiscal year, according to set training plans, thereby supporting the effective oversight role of the corporate bodies.
At the operational levels, the Risk Area plays a proactive role in fostering risk awareness and supporting informed decision-making. This is achieved through targeted training programs, internal communication and reporting processes, and continuous engagement with business units.
A key driver of this culture is the integration of risk criteria in the design and development of insurance products. The Risk Area is involved from the earliest stages of product conception, contributing to assessments of product adequacy, pricing consistency, risk identification, and scenario analysis. Additionally, the Risk Area monitors the evolution of technical risks post-launch, ensuring that product-related exposures remain aligned with the Group’s risk profile.
Furthermore, the Unipol embeds risk culture in its incentive systems. Both Short-Term Incentives (STIs) and Long-Term Incentives (LTIs) are structured to reflect risk-adjusted performance.
Through these coordinated initiatives – governance training, enterprise-wide education, risk-based product design, and incentive alignment, the Group ensures that risk culture is not only promoted but concretely embedded in all levels of its organizational and decision-making processes.