Testing and development of products and services
We want the products and services we develop to closely match the wishes of our customers. To ensure that these are appropriate and meet all guidelines and requirements, we work according to the Product Approval and Review Process (PARP). On the one hand, the PARP process offers a testing framework for processes: clearly laid down responsibilities, stimulation of self-critical ability, well-defined target group determination, extensive scenario analyzes and product comparison, good connection with relevant other processes in the product chain, ensuring a timely evaluation of Products.
On the other hand, it offers a testing framework for products (KNVB criteria):
- Cost efficiency: does the product offer value for money?
- Usefulness: does the product fulfill a substantiated need of the target group?
- Safety: Does the product do what it promises in different circumstances and is the outcome acceptable to the target group?
- Understandable: can the target group assess the operation of the product on the basis of the information it receives from the provider?
AFM: “The AFM's supervisory objective with regard to the standard is: customers can rest assured that the products they are offered are demonstrably the result of product development processes in which the interests of the customer have been taken into account in a balanced manner. This means that Dutch society can trust that product affairs will be prevented.”
Code for banks
Together with the Social Charter and the rules of conduct associated with the banker's oath, the Banking Code forms the Future-Oriented Banking package. The aim of this package is to make an important contribution to restoring public confidence in banks and their role in society. Achmea Bank N.V. complies with the Banking Code
. Concrete examples are used to indicate how compliance with the principles has taken place.
Guidelines for sustainable investing
As a major investor, Achmea wants to take its responsibilities. The knowledge and focus within our sustainable investment policy is bundled. Through our investments, we aim to create long-term social value. We do this by applying (international) guidelines for responsible investment. Below you can read which guidelines these are. We use various instruments to implement these guidelines in the investment process. This includes the exclusion policy, engagement, voting, ESG integration and impact investing. We also expect our service providers to act in line with these guidelines and to work with us to achieve our objectives.
Global Compact (UN)
Achmea tests its responsible investment policy against the Global Compact of the United Nations. We use these principles
as a guideline when conducting engagement and completing part of the exclusion policy. Global Compact includes: the Universal Declaration of Human Rights
, the ILO Declaration
on Fundamental Principles and Rights at Work, the Rio Declaratio
n on Environment and Development and the UN Convention
Principles for Responsible Investment (PRI)
Achmea has signed up to the United Nations Principles for Responsible Investment (PRI)
. PRI encourages the integration of environmental, social and governance (ESG) criteria into the investment process and the exercise of responsible ownership through the equity portfolio. Here you will find the Principles for Responsible Investment (PRI)
Achmea supports the 2019 Climate Agreement
. We do this, among other things, by investing in renewable energy and by appealing companies in which we invest, to take measures to reduce their greenhouse gas emissions.
We have translated these (international) treaties and initiatives into our Engagement Guidelines: concrete normative rules that we use as a guideline for the dialogue we conduct with companies. We use both general and sector-specific guidelines.
All associated documents about our SRI policy can be found on the page Responsible Investment Guidelines.
Sustainability of services
Achmea's services, and therefore also Achmea Bank, will be climate neutral by 2050 at the latest. Or as soon as possible. We determine this on the basis of scientific data that helps us to define our goals as clearly as possible. We have the ambition to make sustainable solutions accessible to all Dutch people, both consumers and companies. We do this on the basis of adaptation, becoming resilient to the consequences of climate change, and mitigation, combating further climate change. We have adopted the following measures in the field of services and insurance:
- We develop services that help our customers to become resilient to the consequences of climate change. Examples of this are the ‘Groene Daken’ that we offer through Interpolis and the ‘Duurzaam Woongemak’ of Centraal Beheer.
- We also develop services that help to combat further climate change. This includes solar panels from Centraal Beheer, encouraging homeowners to become more sustainable in our mortgage portfolio, but also making the damage chain more sustainable (sustainability as part of contracting, together with suppliers) and making real estate more sustainable through Syntrus Achmea Real Estate and Finance.
Also view the policy documents below: