Ensuring product transparency

AEGON is committed to providing financial products and services that are clear, transparent and as easy to understand as possible. This principle is contained in AEGON's Code of Conduct, which applies to all employees around the world. Naturally, AEGON companies are also expected to comply with national legislation in this area, as well as other voluntary industry standards. In addition, AEGON takes initiatives at a country and operating unit level to ensure the continued transparency of its financial products - particularly important at a time of economic stress and uncertainty:

 

  • In Canada, AEGON introduced a new e-learning course for brokers and financial advisors, improving their knowledge of the company's products and enabling them to better serve customers.
  • In Hungary, AEGON has joined an industry-wide initiative to make product costs more transparent for customers.
  • In Slovakia, steps were taken to make forms, supporting documentation and product descriptions easier to read.
  • In Turkey, a new system was set up to keep customers informed by SMS; the system has reduced the number of telephone calls to customer call centers by almost two-thirds.
  • In the Netherlands, AEGON launched an advertising and information campaign under the slogan 'eerlijk over...', or 'honest about...'. The campaign was aimed at explaining sometimes complex financial concepts in a clear, straightforward way. Alongside the campaign, AEGON took measures to improve overall levels of service in the Netherlands, including strengthening its customer contact centers, improving employees' letter-writing skills and launching a dedicated 'You Tube' channel.
  • In China, AEGON has strengthened communication with its customers, simplified the language the company uses in product brochures and extended the terms and conditions of its protection policies to meet customers' needs.

 

Many AEGON companies also provide information for customers, brokers and intermediaries online, including access to product specifications and account details.