a.s.r. has an impact on society and can therefore also have an impact on human rights. a.s.r. aims to positively contribute to creating a more sustainable society by respecting human rights and preventing or reducing the (potential) risks of human rights violations.
a.s.r. has a Human Rights policy in place, that specifies the following elements:
Which international conventions and guidelines a.s.r. subscribes to and respects;
How a.s.r. accounts for its responsibility to respect human rights;
How a.s.r. deals with human rights in its various roles as investor, insurance and financial products and services provider, procurer and employer;
a.s.r.’s expectations relating to its employees, business and other relevant parties;
How (potential) human rights violations can be reported.
The Human Rights policy can be found on asrnl.com.
Investments
For a.s.r., the greatest potential negative impacts on human rights reside in its investment portfolio, which is why human rights are one of the key priorities in its Socially Responsible Investment policy (SRI). All of a.s.r.’s existing and new investments are monitored for ESG criteria based on its SRI policy. Countries and companies that fail to comply are excluded. Companies committing systematic and/or gross violations of human rights, or companies that fail to respect the fundamental conventions of the International Labour Organisation (ILO) are excluded from its investment portfolio. If a.s.r. sees any potential for improvement of the situation, it may choose to start an engagement dialogue with the company.
Business customers and partners
In the acceptance process for new business customers, a.s.r. assesses (potential) risks in the sphere of human rights violations. In the Customer Due Diligence policy, human rights violations are a ground for exclusion. An additional assessment of ESG risks, including human rights risks, takes place, if required, as part of the Sustainable Insurance Policy. In 2023, seven business partners were refused on the basis of human rights or labour rights violations.
Retail customers
In 2023, a.s.r. conducted an impact analysis to gauge the extent to which its products and services could negatively impact human rights. The study concluded that as a Dutch insurer, a.s.r. must be attentive to the following:
Risks relating to privacy;
Inadequate focus on financial problems among customers (see section 3.1.2);
Discrimination;
Exclusion from the provision of products and services;
Insensitive and/or complex communication;
Limited access to products and services as a result of digitalisation;
Failure of players in the value chain to comply with the code of conduct governing insurers.
Since these are risks that apply to the sector as a whole, a.s.r. is looking at how it can contribute to possible solutions in conjunction with the Association of Insurers.
Procurement
a.s.r. has tightened its procurement process, including in the area of human rights. Compliance with human rights and labour rights standards is reviewed during the selection and monitoring of suppliers. This information is used as input for annual, strategic discussions with suppliers. a.s.r. requires suppliers to be diligent in their own business activities and supply chain. In 2023, a.s.r. renewed its Supplier Code of Conduct, which includes expectations regarding compliance with working conditions and human rights principles.
Employees
As an employer, a.s.r. also upholds the right to equal treatment and non-discrimination. At a.s.r., everyone is welcome and treated equally, through awareness of diversity in relation to gender, age, religious conviction, physical and mental capacity, background and sexual orientation. Through its Diversity, Equity and Inclusion policy, a.s.r. strives for a workforce that is a representative reflection of society. The a.s.r. code of conduct pays explicit attention to a safe and pleasant working environment, non-discrimination and inclusion. In 2022 and 2023, a.s.r. launched several initiatives to promote diversity, equity and inclusion within the organisation. The Diversity and Inclusion module of the Denison Scan measures progress on this theme annually. In 2023, a.s.r. was among the top 28% of companies taking part in this module. Each year, a.s.r. also commissions a study on the gender pay gap.
a.s.r. uses various channels to gain insight into workplace safety, such as the annual Vitality Scan, panel discussions following the Risk Inventory and Evaluation (RI&E), eMood® and the Denison Scan. Employees who experience undesirable behaviour such as bullying or discrimination can contact their manager, the HR advisor or the Vitality specialist, external confidential advisors and/or the Grievances Committee. An external confidential advisor was contacted 20 times in 2023 (2022: 21). No complaints were submitted to the Grievances Committee (2022: 0).