Compliance
For Achmea, compliance begins in our nature and identity. That is why we have a higher standard when it comes to compliance issues.
A ‘higher standard’ means that for us, it is not enough to comply with current regulations. Conducting our business in a committed, innovative and result-oriented way is who we are.
We also consider shifting parameters and anticipate changes or new laws. This fits in neatly with our core values as an organisation, and we see it as an obligation to our stakeholders.
For Achmea, compliance is more than just a regulatory overview. It is an essential core value of the organisation that manifests itself in integrity, respect, ethical treatment and behaving with decency and professionalism. It is important for every Achmea employee to exhibit these behaviours in his/her daily work.
Compliance Themes
We conduct regular assessments to ensure that we continue to comply with legislation in our daily work. The sheer number of laws and rules – many of which undergo regular amendments – means it is nearly impossible to conduct a single assessment of all regulations simultaneously.
Instead, Achmea has chosen to work under 16 business-oriented compliance themes. These themes vary from Consumer Protection, to Internal Values and Behaviour as well as Privacy and Medical Data. By clustering legal and regulatory requirements under themes, Achmea ensures a responsible, efficient, effective process for meeting those requirements.
This structure provides a clear overview of all compliance risks and how they are managed. It also facilitates a structured monitoring and reporting process.
The themes are also a way to show our stakeholders how well organised and well maintained the company is. If a stakeholder asks a specific legal or regulatory question, this framework allows us to quickly identify the status of this law in a particular division.
Themes are categorised as either general or specific. General themes are, in principle, in place across Achmea. Whenever a division has a need for specific themes tailored for them, these are developed in cooperation with Group Compliance and Regulatory Affairs.
What is Compliance?
The Basel Committee defines compliance as conforming to the laws, regulations, rules, related self-regulatory organisation standards, and codes of conduct applicable to a company’s activities in order to avoid the risk of legal or regulatory sanctions, material financial loss, or loss of reputation.