ARTE Generali expands its range to serve corporate collections, museums, art foundations and temporary exhibitions
Munich, March 9, 2021 - ARTE Generali, the global business unit launched at the end of 2019 by the CEO of Generali Deutschland Giovanni Liverani and dedicated to art lovers, presented its new solution for institutional clients. The solution offers an all-risk, tailor-made coverage for corporate collections, museums, art foundations and temporary exhibitions and complements the company’s current portfolio, targeted at private collectors. The new institutional solution is available in Germany while the roll-out in Italy will start in April.
“The launch of our institutional solution is an integral part of our growth strategy,” commented Jean Gazançon, CEO of ARTE Generali. “Slightly more than one year after we started our business, we are now able to introduce a solution that allows us to offer a more comprehensive service and to be a life-time partner to a wider spectrum of art market’s players beyond private collectors. The new institutional solution includes our inherent strengths consisting of, among others, unparalleled art expertise and insurance knowledge.”
The new solution’s building block is a high-capacity, all-risk coverage
ARTE Generali’s new institutional solution stands out for its high-capacity, all-risk insurance coverage including, for example, insurance on a ‘nail-to-nail’ basis, freedom of movement and transport coverage. ARTE Generali’s solution is bespoke and a dedicated claims service ensures fast and competent handling in case of damage or loss.
ARTE Generali’s vision for its institutional solution is to mirror the modular configuration of its product for private collectors by complementing the insurance coverage with ‘concierge’ services to provide best-in-class 24/7 art-related support as well as with digital tools. The ongoing implementation of ARTE Generali’s digital platform for institutional clients, in particular, is expected to offer benefits including facilitated interactions with service providers, streamlined insurance-related processes and assistance with cataloguing and collection management. The additional modules, including the concierge services and the digital platform, are under development and will come soon.
The institutional segment shows strong potential
ARTE Generali expects a solid recovery of the exhibition market in the near future, after it was brought to an almost complete halt by the novel Coronavirus pandemic. Combined with the increasing art production and the growing attention to art as an investment class, which are expanding the value of permanent collections, these factors explain the potential of the institutional segment. ARTE Generali starts serving it by insuring the collection of Generali Deutschland, boasting approximately 2,700 artworks including paintings, sculptures and installations spread across the insurer’s premises in Germany.