{"id":134908,"date":"2025-11-11T15:21:00","date_gmt":"2025-11-11T14:21:00","guid":{"rendered":"https:\/\/www.we-wealth.com\/?post_type=news&p=134908"},"modified":"2025-12-11T16:08:57","modified_gmt":"2025-12-11T15:08:57","slug":"private-insurance-and-wealth-management-the-challenge-of-evolution","status":"publish","type":"news","link":"https:\/\/www.we-wealth.com\/en\/news\/private-insurance-and-wealth-management-the-challenge-of-evolution","title":{"rendered":"Private insurance and wealth management: the challenge of evolution"},"content":{"rendered":"\n

Private insurance<\/strong> is undergoing a phase of profound transformation<\/strong>. From being a tool for confidentiality<\/strong> and tax optimization<\/strong>, it has evolved into a strategic lever for asset planning<\/strong> and family governance<\/strong>, increasingly integrated into wealth management<\/strong>. Insurance companies are addressing this challenge by shifting from a product<\/strong>-centric model to one focused on personalized asset protection<\/strong>, in order to respond to new needs\u2014from generational transition<\/strong> to international policy portability<\/strong> to private asset<\/strong> management\u2014without losing the efficiency of technology<\/strong> or the human value of consulting<\/strong>. All this was discussed at the round table of the 2nd Wealth Management Summit of We Wealth<\/strong>, with Maurizio Ceron<\/strong>, Head of Wealth Management at Zurich Bank<\/strong>, Berardo Staglian\u00f2<\/strong>, Country Manager Italy at Wealins<\/strong>, Fabrizio Palumbo<\/strong>, Country Head Italy at Octium<\/strong>, and Johannes Wettstein<\/strong>, CEO of Prosperity Solutions, moderated by Chiara Samor\u00ec<\/strong> and Luca Bertacchi<\/strong>, founder and president of The Insurance Academy<\/strong>.<\/p>\n\n\n\n

How are insurance solutions changing for wealth clients who are living longer? Are there innovative levers to make them more flexible than in the past?<\/strong><\/h3>\n\n\n\n

Berardo Staglian\u00f2: <\/strong>“Longevity is an important issue<\/strong>: in Europe, much of the wealth is in the hands of older people, and in Italy, we are often underinsured<\/strong> and late<\/strong> in the generational transition<\/strong>. For this reason, our company has eliminated the maximum age for subscription<\/strong>: today, even at 80 years old<\/strong>, you can take out a policy. In addition, caps on risk capital<\/strong> applied above a certain age can create problems<\/strong>: on a high-value policy, a cap<\/strong> that is too low can expose you to disputes over the insurance nature<\/strong> of the transaction. Here too, we offer tailor-made solutions<\/strong> with a wide range of excess death benefits<\/strong> and options<\/strong> adapted to our clients’ needs. We look not only to the future but also to the present<\/strong>: we have introduced the option of paying an annual coupon<\/strong>, bringing the decumulation<\/strong> typical of retail and affluent clients into the private sector, so as to respond to immediate<\/strong> needs as well as those of transfer<\/strong>.”<\/p>\n\n\n\n

A longer-lived clientele also implies new family needs and successors. How can private insurance accompany the greatest generational transition in history and protect new forms of relationships, such as common-law couples?<\/strong><\/h3>\n\n\n\n

Fabrizio Palumbo<\/strong>: “We are preparing to face an unprecedented challenge and opportunity<\/strong>: the greatest generational transition<\/strong> in history, worth more than one trillion euros<\/strong> over the next decade. It is a phenomenon that involves the entire private insurance<\/strong> industry, which is called upon to respond with advanced wealth planning<\/strong> tools. Over the last twenty years, we have seen a steady growth in the adoption of our solutions, initially linked to confidentiality<\/strong> requirements or extraordinary transactions such as tax shields<\/strong> or voluntary disclosure<\/strong>.<\/p>\n\n\n\n

From the concept of pure distribution to that of protection: how is the service model evolving in dialogue with new generations of customers?<\/strong><\/h3>\n\n\n\n

Today, however, private insurance has become an informed choice<\/strong>: the next generation<\/strong> is more informed, more demanding, and more international. It is a generation that will experience this transition firsthand and understand its value, not least because policies allow benefits to be received quickly and confidentially<\/strong>, often reducing family disputes<\/strong>. There is also an equally important social<\/strong> issue. De facto couples<\/strong> and non-marital unions<\/strong> represent a growing proportion of new European families. Private insurance<\/strong> is an extremely effective tool for protecting the surviving partner<\/strong>, because it allows for a direct transfer of benefits without additional taxes<\/strong> and much more quickly<\/strong> than ordinary succession. It is a way to make estate planning more inclusive, modern, and consistent with the reality of today’s relationships.”<\/p>\n\n\n\n

Maurizio Ceron: <\/strong>“Over the next ten years, we will see a movement of around \u20ac300 billion<\/strong>, not of new wealth but of wealth that will shift<\/strong> from one generation to another. For a company like ours, which founded a bank three years ago<\/strong>, this scenario represents a strategic challenge<\/strong>: deciding whether to invest today<\/strong> to intercept the trend or project ourselves<\/strong> towards the next ten years. The relationship with the customer is already changing. We are developing our model on two fundamental pillars: technology and human capital. On the technological front, Zurich Bank was founded as a fully digital bank: 85% of transactions now take place online, and we aim to eliminate paper altogether. Our advisors have embraced this change, adopting new ways of interacting and building a more immediate and innovative dialogue with customers.<\/p>\n\n\n\n

In the United States, in just five years, the role of the financial advisor<\/strong> has changed radically: today they work in teams by specialization and use technology to manage personalized portfolios. That model is also coming to Europe, and we are already integrating it. However, there is another crucial aspect: financial education<\/strong>. It is a process that takes time, but it is essential for clients to become aware<\/strong> of their choices. They need to understand that without risk there is no return<\/strong>, and that protection is an integral part of asset allocation. In this sense, our profession remains a profession of people for people<\/strong>: technology accelerates processes, but it is human dialogue<\/strong> that gives meaning and coherence to advice.”<\/p>\n\n\n\n

What is the international view of private insurance from Liechtenstein and Switzerland? What can this model offer the Italian market?<\/strong><\/h3>\n\n\n\n

Johannes Wettstein: <\/strong>“The real question we need to ask ourselves is: who will be ready to seize the opportunities of generational transfer and who will let them slip away?<\/strong> We are born digital<\/strong> and believe that to meet this challenge, we need a platform capable of managing large flows efficiently<\/strong>. Paper is no longer a solution: today’s products must be flexible and fast<\/strong> in order to adapt to the needs of increasingly mobile and sophisticated customers. Liechtenstein<\/strong> is a unique financial hub, a bridge between Switzerland and Europe<\/strong>, offering stability<\/strong>, capital protection<\/strong>, and a state-of-the-art<\/strong> regulatory framework on par with the major European markets. It is a country with an AAA rating<\/strong>, no debt, and outside the ESM, all of which strengthen customer confidence.<\/p>\n\n\n\n

A concrete advantage for those who move, for example, is the possibility of taking their policy with them<\/strong>: we are the only ones able to guarantee contractual continuity<\/strong> even in the event of a change of residence between Italy and Switzerland. This is a form of real portability<\/strong>, which meets the needs of an international and mobile clientele. Finally, there is an issue that I consider central: family governance<\/strong>. It is a fundamental value for the Italian market and will become increasingly important. Our vision is clear: private insurance must combine flexibility<\/strong>, capital protection<\/strong>, and family governance<\/strong> to accompany assets across time and space.”<\/p>\n\n\n\n

Watch the video of the round table<\/em><\/p>\n\n\n\n

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