Corporate social responsibility
As an organisation with a cooperative history, Achmea is committed to corporate social responsibility (CSR). We believe that insurance should provide continuity and risk management. But we don’t stop there. We have set up numerous programmes to help our customers prevent and limit risk. In fact, our programme of ‘vitality’ services to employers and employees has been so successful that profits on such packages are in decline. We see this as an indicator of success.
CSR is integral to our ambition to become the most trusted insurer. We believe we have an important role to play in society. We invest in solutions that are topical and relevant to the people around us. On behalf of the license given to us to operate, we feel the duty against society to raise and publicly discuss social issues. In 2011 we focus on the topics Pension, Care, Safety, Labour participation and Mobility.
Vereniging (Association) Achmea in Society
Vereniging (Association) Achmea grew out of the mergers that brought several cooperative insurers under the Achmea umbrella. Its members are company and individual policyholders. It is involved in many social initiatives, such as debating retirement and healthcare reforms, through its member, policyholder and advisory bodies.
Victim and Society Foundation
In addition, Vereniging (Association) Achmea has established a Victim and Society Foundation (SASS – Stichting Achmea Slachtoffer en Samenleving). SASS supports victims of any type of violence, accidents, calamities or disasters through research and other projects.
Our CSR goals are to:
- Test all propositions against our identity norms
- Offer sustainable propositions in all product lines
- Research into how investment policy can be made even more sustainable
- Implement sustainability criteria in procurement
- Research strategic opportunities within micro-insurance
Propositions which meet our norms
Achmea aims to ‘set the example in the market’. Point of departure is the delivery of products and services that the customer understands, that he or she needs and for a fair price. Applying this point of departure to all our activities, we have developed a framework of norms against which we test all our propositions. The framework of norms determines the standards both existing and new products must meet. Products that do not meet these requirements are adjusted to the customer’s advantage. In 2011, we will begin adjusting existing products.
Sustainable Propositions
To meet our ambition of becoming the most trusted insurer, we strive to develop propositions which fully meet our norms in line with our identity. They include, besides fair products against reasonable premiums, also products which stimulate sustainable and risk averse behavior or cover seemingly uninsurable risks. In tackling climate change for instance, Achmea co-initiated a mutual insurance for farmers against weather related risks. Key features of it are claim handling per parcel, no reassessments in ‘bad’ years and a relative low premium.
Sustainable and Responsible Investment
As an institutional investor with an equity portfolio of around €1 billion, Achmea can encourage sustainability. We do not invest in controversial manufacturers, such as the arms industry. We have also adopted the ‘enhanced engagement’ philosophy. This means we demand predefined environmental, sustainability and governance (ESG) goals before we invest.
In coming years we aim to make our investment policy even more sustainable, which is among the best in the market.
For information about our responsible investing policy, see (in Dutch) Verantwoord beleggen - Achmea.nl.
Sustainable Procurement
Achmea started to make her procurement policy more sustainable. In the new sustainability statement, from 2011, Achmea will require all suppliers to sign. We expect them to support us in our ambitions on corporate social responsibility and sustainable entrepreneurship by having embedded sustainablility into their business operations.
Strategic Opportunities within Micro Insurance
Micro-insurance is an activity where we can really add value and distinguish Achmea as a knowledge leader. It has a direct link to Achmea’s origins and is an inspiring way to explain the importance of solidarity and how enlightened self-interest forms the basis for cooperative insurance. Our micro-insurance activities match with Achmea's strategy, both on the choice of country and the product development in especially emerging markets.
Micro-insurance is fast coming to symbolise Achmea’s goal to be the most trusted insurer by demonstrating solidarity and inclusion.