Our external stakeholders

Engaging with our wide range of stakeholders on the issues that matter to them, so that we can take account of their needs in the way we do business.

Building trust in financial services

In 2007 we worked to increase customer confidence by demonstrating how financial services can enhance people’s lives and by becoming more transparent. For example, on finding out that many people in the UK have no will and pay too much in inheritance tax, we developed an inheritance planning toolkit for intermediaries. In Germany, we made our sales process more open by giving customers extra information upfront – particularly about how fees will affect their returns.

Treating Customers Fairly

Treating Customers Fairly (TCF) is central to our strategy and culture, and is actively championed by our senior management. We know that happy customers mean good business, so we’ve always looked to deliver the right products to the right people, with the most appropriate service and support. Offering products that meet customer needs is a vital part of TCF and our business philosophy. In 2007, we built comprehensive customer feedback and research into our product development process.

Keeping our customers’ data secure

Our customers trust us to look after their personal details and we have robust processes to reduce the risk of that valuable data being mishandled, lost or stolen. In 2007 our dedicated Group information security team, strengthened by the appointment of a Chief Information Security Officer, continued to tighten information security.

Building relationships with our shareholders

We have around 1.5 million shareholders in more than 50 countries. Over 95% are private investors and 99% of them are also our customers. Our shareholder communications in 2007 yielded positive results – with a significant move towards electronic communication which reduces our carbon footprint and 30% of shareholders agreeing to reinvest their dividends in additional shares.