Knowing what else is behind the cover would be a big help at an attempt to answer the question.
Kind of looks like we may potentially have two service disconnecting means for a single structure that are not grouped together.
Blowing up the image to max, it looks like either a manual transfer switch or a breaker inside the box, behind clear plastic cover.
The service seems to be coming up to the meter and down the conduit towards the panel in the basement, with no disconnect at the meter.
There is a similar conduit going down toward the basement and a smaller one that is probably the feed from the generator.
The large conduit seems to be large enough that it could contain the service wires from the meter which have looped down into the basement and back up again without actually terminating in the main panel. The box could then contain a service rated transfer switch which feeds back down into the basement to the main panel breaker.
This could potentially be completely code as long as the owner opens enough breakers to bring the load down to 100A before flipping the manual transfer switch.
2. The POCO service could be going down to the main breaker and the generator could be going to a backfed 100A breaker in the main panel with or without an interlock. Since you say the main panel is "not modified", I would have to say without an interlock. In that case the contents of the right box would just a breaker and not a transfer switch and the whole thing would be non-code and probably done without inspection.
So as kwired said, you need to know what is in the box, what is inside the main panel behind the cover, or what wires are in the two conduits. The difference among the possibilities is huge.
PS: There is only one service. The generator is a supply and may or may not be an SDS. If the outside switch is in fact a transfer switch, it may be a single service disconnecting means and the main panel breaker is not the service disconnect. But the service wiring may have gone too far into and back out of the house before it hit the first disconnect.
Where is/are the ground-neutral bond(s)?