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Transparent products & services

While the financial services sector has been rebuilding credibility in recent years, following the financial crisis of 2008, a generalized lack of trust still affects many providers.

What's the issue?

Aside from real concerns that providers might declare bankruptcy, deep concerns remain around moral conduct, value-for-money, product promise and service quality, transparency and fair treatment.

What are the opportunities and what are the risks?

Despite customers' lack of trust in the financial industry, they still need a reliable partner to ensure their financial security in later life. Globally, we see that preparedness for retirement is becoming a shared responsibility of governments, financial services providers, and increasingly, also customers. This means customers are in need of different, better and perhaps even more products and services, but also that we, as a financial services provider, need to open up to our customers to establish solid, trustworthy and mutually beneficial relationships.

What are we doing about it?

We put the fair treatment of our customers at the heart of our Market Conduct Principles. We expect our business partners, intermediaries and suppliers to live up to similar ethical standards. We recognize that we need to go through a process of cultural transformation to focus every one of our employees on delivering on this promise – something we do, for example, by globally implementing our Customer License Program. We've also reviewed how we communicate with our customers, and have made considerable efforts to ensure we are clear, transparent, accessible and understandable.