GRI-No./
(GC*) |
Performance indicator / Brief answer |
Link |
Degree of compliance |
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Labour practices and decent work performance indicators
Unless otherwise stated, the figures given in the following tables cover approximately 67%.
Further details are available under » Employee indicators in the “Facts and figures“ section.
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LA
(1, 3, 6) |
Management approach
Our staff provide the basis for our success due to their competence, motivation and commitment. We are consistently committed to investing in their development and provide all staff with equal opportunities and top-quality working conditions.more
We strive to recruit the best staff we can and to fill them with enthusiasm for the global business of dealing with opportunities and risks. In our international human resources work and strategic workforce planning, our focus is on the individual. We are a successful and valued employer, not only adapting to the current demands of the labour market but also understanding how to meet the changing needs of our staff. Flexible work models, special conditions for employees with children, the promotion of healthcare, and social counselling services are just some of the factors that make Munich Re a respected employer. Equal treatment is an inherent part of our corporate culture.
In 2010 and 2011, the Board of Management positioned diversity as a strategic issue for the Group. To underscore this, Munich Re has launched an international project aimed at formulating Group-wide parameters and a Group-wide diversity concept steered by an international Munich Re diversity council. The goal is to create a strategic framework that applies for the entire Group. With this framework, it is planned to show how we define diversity strategically from a Group level and to give recommendations. A diversity project has been launched at ERGO, too. It is mostly in line with our Group project focus, so there will definitely be mutual benefit. On the international level, we already have initiatives relating to family concerns in many places. For example, some units have employees who work from a home office, some provide childcare discounts or make available childcare options, and others offer employee assistance programmes for work-life balance and similar issues.
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CR portal
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Full |
| LA1 |
Total workforce by employment type, employment contract and region
As at 31 December 2011, Munich Re employed a total of 47,206 staff, 15,142 of these in reinsurance (including Munich Health staff), 31,311 in primary insurance and 753 in asset management.more
Staff by employment contract at offices in Germany in 2011:
Staff members with temporary employment contracts: 1,836
Staff members with open-ended employment contracts: 29,844
Munich Re staff by employment type:
In 2011, 4,397 of our staff were part-time, 27,252 were employed full-time.
Distribution of reinsurance staff by region (2011):
Germany: 24,299
Rest of Europe: 13,962
North America: 6,781
Latin America: 128
Asia and Australasia: 1,472
Africa, Near and Middle East: 564
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CR portalCorporate website (Staff)
Publication “Staff 2009: Data and facts”
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Full |
LA2
(6) |
Total number and rate of employee turnover by age group, gender and region
The number of staff employed by Munich Re rose in 2011 due largely to international acquisitions in the reinsurance group, for example Windsor Health Group Inc., USA.more
The weighted average turnover rate was 8.5% in 2011.
Monitoring detailed turnover rates at Munich Re is a task of the decentralised units. Also, turnover categories often refer to local or company-specific regulations. Munich Re therefore does not aggregate detailed turnover data from the different decentralised units.
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CR portal
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Partial |
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LA3
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Benefits provided to full-time employees that are not provided to temporary or part-time employees, by major operations
Munich Re does not differentiate between benefits provided to full-time staff and those provided to part-time staff.more
Munich Re offers its staff various benefits, the nature and scope of which are determined on an individual company basis and not centrally. At Munich Re, additional benefits have a long-standing tradition and we attach great importance to them. They are part and parcel of our overall remuneration concept and mirror our corporate culture.
Family-friendly work measures are also determined on a decentralised basis. Munich Re’s offices in Germany work with a number of service providers that help staff find good childcare. Company childcare centres have reserved places for staff children, which helps women return to qualified positions. In addition, independent family services offer assistance in securing tailor-made care for children of staff or for other family members.
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CR portal
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Full |
LA4
(1, 3) |
Percentage of employees covered by collective bargaining agreements
Munich Re (Reinsurance) Germany: 93%
ERGO Germany: 95%
MEAG: 97%
We do not keep any record of employees' union memberships. Both MR Munich and ERGO are members of the Employers' Association for Insurance Companies in Germany and therefore subject to the association's collective bargaining agreements; the same terms and conditions apply to both union and non-union members. Employees' interests are represented by a staff council elected by the members of staff. Since July 2007, there has been a Group-wide staff council in addition to the different company staff councils. Besides this, there are employee representatives on the Supervisory Board. In all our contracts with employees (not applicable for executives), we refer to collective labour agreements. We state that the collective bargaining agreement is applicable independent of membership in a trade union. In addition, Munich Re is a member of the UN Global Compact and supports all its principles.
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Full |
LA5
(3) |
Minimum notice period(s) regarding operational changes, including whether it is specified in collective agreements.
In the event of operational changes, the Staff Council is duly informed of the action planned in accordance with its right to information, so that it can have a say in whether, when and how such changes are effected.
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Full |
LA6
(1) |
Percentage of total workforce represented in formal joint management-worker health and safety committees that help monitor and advise on occupational health and safety programmes
Munich Re complies with the health and safety requirements imposed by law, but there is no Group-wide committee in place to help monitor and advise on occupational health and safety programmes. Every company has its own health and safety committee with joint management/employee representation on a local level.
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CR portal
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Full |
LA7
(1) |
Rates of injury, occupational diseases, lost days and absenteeism and number of work-related fatalities by region
In 2011, the level of sick leave throughout Munich Re was 4.1%.
The number of occupational accidents is not recorded centrally. As a financial services provider, our exposure to occupational accidents and work-related fatalities is very small.
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CR portal
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Partial |
LA8
(1) |
Education, training, counselling, prevention and risk-control programmes in place to assist workforce members, their families, or community members regarding serious diseases
As part of their responsibility as employers, Munich Re companies help their staff to look after their health and maintain it in the long term. Consequently, all the legal requirements in respect of health and safety at work are met and additional measures offered such as counselling and training programmes on stress management, ergonomic working conditions and similar issues.more
The measures are initiated and coordinated by the individual companies within Munich Re and not centrally. A substantial number of Munich Re sites have their own company medical officers who inform staff about recommended vaccinations, instruct them on what to do in the event of acute health risks, organise first-aid within the company, give advice on occupational health, offer voluntary regular extensive check-ups to identify health risks and diseases at an early stage, monitor the execution of occupational safety with regard to regulatory requirements and accident prevention measures, inspect the workplace, examine work-related injuries, make sure that all employees are informed about requirements of work safety and accident prevention, and provide urgent medical treatment where necessary. They also advise management and the employees who deal with such issues on matters concerning health and safety at work.
Since 2001, Munich Re Munich has had a health and safety committee, going far beyond legal requirements, integrated into its risk management system. Staff going on business trips can attend security training courses, while brochures like “Gymnastics at the workplace” and offers for back training are available. Moreover, information on employee care is provided on the intranet. Our employee assistance programme (Work-Life Service in Munich) offers life counselling, stress management and conflict-solving.
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CR portal
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Full |
LA9
(1) |
Health and safety topics covered in formal agreements with trade unions.
Each company discusses safety at work issues with its own employee representatives. The relevant statutes are applied.
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Partial |
| LA10 |
Average hours of training per year per employee by employee category.
In 2011, the average number of days’ training per employee for Munich Re Group was 3.06 (compared with 3.36 in 2010).
The average hours per employee category are not tracked in our reporting system.
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CR portal
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Full |
| LA11 |
Programmes for skills management and lifelong learning that support the continued employability of employees and assist them in managing career endings
We give high priority to staff training and personal development. Munich Re advocates lifelong learning. We offer a wide range of training options in each of our business fields and at MEAG. Munich Re fosters key-skill and specialist staff training by organising specialist and personal training measures. Modern e-learning platforms accessible to staff worldwide are another training option.
Due to the different business lines of Munich Re, all of our activities/actions are based on the same principles but with local freedom of application. We support the enhancement of skills and excellence in business-specific functions by means of competence profiles, curricula and consistent quality assurance. The career development of our specialists is also of central importance to us. At Munich Re, personnel development initiatives are an integral part of the annual appraisal interviews.
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CR portal
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Full |
| LA12 |
Percentage of employees receiving regular performance and career development reviews
Due to Munich Re's different business lines, all of our activities/actions are based on the same principles but with local freedom of application. Performance appraisals are part of Munich Re’s performance management system. Employees and managers set objectives that are reviewed on a regular basis. Personnel development initiatives are part of the annual appraisal interviews.more
Munich Re (reinsurance) Germany: 100%
MEAG: 100%
Most of the staff in Munich Re’s international organisation have regular performance appraisals, but currently no international data are available.
The different companies at ERGO have different processes and guidelines. From 2012 on, there will be a consistent and mandatory skill mapping and developing process for all employees, ratified by the company together with the Staff Council.
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CR portal
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Full |
LA13
(1, 6) |
Composition of governance bodies and breakdown of employees per category according to gender, age group, minority group membership and other indicators of diversity
Staff diversity is a key aspect of Munich Re’s corporate culture.more
In 2011, 52% of Munich Re employees were female. The proportion of females in management positions has been rising in recent years, and amounted to 26% in 2011.
Munich Re staff by age (2011):
29 and under: 4,169
30 to 49: 18,548
50 and over: 6,716
This does not add up to the total number of employees because coverage is not 100%
In some of the countries where we operate, employers are prohibited by law from asking employees questions about minority group membership.
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CR portalGroup annual report 2011
“Staff”: p. 114 ff.
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Partial |
LA14
(1, 6) |
Ratio of basic salary of men to women by employee category
Our policy on salary determination is not based on gender but on individual expertise, experience and market-based criteria. The Group's remuneration practices are strictly independent of any diversity factors including a person's gender; hence we do not differentiate between men and women in our remuneration system. Furthermore, Munich Re has implemented a transparent and neutral payment system oriented towards employee performance, responsibility and experience. Please refer to non-discrimination/social conduct in our codes of conduct.
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CR portal
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Not reported |
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2. Human rights |
HR
(1–6) |
Management approach
Observance of human rights is axiomatic for Munich Re. In August 2007, Munich Re joined the United Nations’ Global Compact initiative.more
Its ten principles provide us with important action guidelines, and principles 1 and 2 refer explicitly to the issue of human rights. We have implemented numerous systems and measures that make clear our commitment.
Our Code of Conduct specifies that we expect our employees to observe the personal dignity, privacy and personality rights of every individual. We do not tolerate any discrimination (on grounds of age, sex, ethnic origin, nationality, political opinion, race, religion or the like), sexual harassment, other personal harassment, or insulting behaviour. Neither do we tolerate any intimidation or violence, or the threat thereof.
As a member of the UNEP FI Principles for Sustainable Insurance (PSI) Initiative, we work for greater consideration of ecological, social and governance (ESG) factors in the insurance industry.
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CR portal
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Full |
HR1
(1–6) |
Percentage and total number of significant investment agreements that include human rights clauses or that have undergone human rights screening
In our asset management, we follow the United Nations Principles for Responsible Investment (PRI) throughout our Group. Munich Re was the first German company to sign the Principles for Responsible Investment, which we played a prominent role in helping to establish.more
Based on the PRI, our General Investment Guidelines stipulate that 80% of our own investments in shares, bonds, real estate (up from 2010) and investments in the RENT project should satisfy sustainability criteria, which include human rights aspects.
In addition, MEAG offers its clients investment products that take account of sustainability criteria. These sustainability funds enable clients to invest in accordance with the principles of socially responsible investing (SRI).
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CR portalGroup annual report 2011
page 32
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Full |
HR2
(1-6) |
Percentage of significant suppliers and contractors that have undergone screening on human rights and actions taken
In our procurement policy, we also aim to achieve a balance in terms of economic, ecological and social aspects, which include human rights.more
A corporate responsibility clause (Munich Re reinsurance group only) is included in all new and renegotiated contracts with suppliers and service providers, obligating suppliers and providers to comply with the ten principles of the UN Global Compact. In 2011, Central Procurement concluded contracts covering about 90% of the overall spend with German suppliers who have to comply with the basic principles of the UN Global compact like human rights, labour law and anti-corruption that are laid down in German legislation.
Regarding ERGO: A detailed supplier self-disclosure – including various questions related to environmental aspects and environmental certificates – is required for all purchasing volumes.
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CR portal
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Full |
HR3
(1–6) |
Total hours of employee training on policies and procedures concerning aspects of human rights that are relevant to operations, including the percentage of employees trained
Our Code of Conduct is a key source of guidance for our actions and describes our understanding of the relevant values. The code specifies our rules for legally impeccable conduct, based on ethical principles.more
To optimise the outcome of this value management, we provide training programmes on the Code of Conduct for our employees. Since the beginning of 2011, all employees in the reinsurance group have had access to an e-learning module on this topic. We expect employees to acquaint themselves with the contents and obligations of the Code of Conduct and test their knowledge of the areas that it covers. ERGO introduced an e-learning module for senior executives in 2009.
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CR portal
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Partial |
HR4
(1, 2, 6) |
Total number of incidents of discrimination and actions taken
Equal treatment and non-discrimination are enshrined in Munich Re’s codes of conduct. Munich Re does not tolerate discrimination – whether based on age, gender, ethnic origin, cultural identity, religious beliefs, political opinions or similar grounds. Therefore Munich Re signed the German Charter of Diversity in 2011, following ERGO (since 2009). Signatories agree to create a work environment free from prejudice and exclusion, including an internal review of HR processes at regular intervals.more
Internal codes of conduct have been implemented and set standards for all business activities. Other guidelines and principles have to be aligned with the codes of conduct, which formulate the main rules and principles for correct behavior by employees and reflects our values. Non-discrimination is one of the topics covered by the codes of conduct.
The codes, which are obligatory for all Munich Re employees worldwide, provides clear guidance by laying down principles for topics such as non-discrimination and harassment, dealing with confidential information, insider trading, external communications, conflicts of interest, gifts and entertainment, and the protection of Group property and natural resources. If material cases of discrimination occur, they are reported to the compliance functions as defined by escalation criteria.
Furthermore, Group-wide representative bodies for disabled employees are in place. ERGO has appointed a central equal opportunities officer to ensure the rules are respected at its offices in Germany. In addition, since 2008, there has been a company agreement for the integration of disabled persons. Any incidents of discrimination and measures taken are recorded locally; no Group data are available.
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CR portal
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Not applicable |
HR5
(1–3) |
Operations identified in which the right to exercise freedom of association and collective bargaining may be at significant risk, and actions taken to support these rights
In the period under review, no business operations were identified in which freedom of association and the right to collective bargaining were at risk.more
By joining the UN’s Global Compact, Munich Re has also demonstrated its commitment to observing the right to freedom of association and collective bargaining. Munich Re complies with the relevant laws applying in the different countries in which we do business.
We do not keep any record of employees' union memberships. Munich Re Munich and ERGO are members of the Employers' Association for Insurance Companies in Germany and therefore subject to the association's collective bargaining agreements; the same terms and conditions apply to both union and non-union members. Employees' interests are represented by a staff council elected by the members of staff. Since July 2007, there has been a Group-wide staff council in addition to the different company staff councils. Besides this, there are employee representatives on the Supervisory Board. In all our contracts with employees, we refer to collective bargaining agreements. We state that the collective bargaining agreement is applicable independent of membership in a trade union.
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CR portal
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Full |
HR6
(1, 2, 5) |
Operations identified as having significant risk for incidents of child labour, and measures taken to contribute to the elimination of child labour
In the period under review, no business operations were identified in which there was a significant risk of child labour. This aspect is of little relevance in Munich Re’s business, as key units of the Group operate in countries where child labour is prohibited by law. By joining the UN Global Compact, however, Munich Re has made clear that it will not tolerate child labour.
This means as well that all Munich Re suppliers abide by the company's environmental, social and governance (ESG) standards, as outlined in the Munich Re Code of Conduct and Purchasing Guidelines. Both the codes and the guidelines are in line with the principles of the United Nations (UN) Global Compact – in particular human rights, labour standards, environment and anti-corruption.
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CR portal
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Full |
HR7
(1, 2, 4) |
Operations identified as having significant risk for incidents of forced or compulsory labour, and measures to contribute to the elimination of forced or compulsory labour
In the period under review, no business operations were identified in which there was a significant risk of forced or compulsory labour. This aspect is of little relevance in Munich Re’s business, as key units of the Group operate in countries where such labour is prohibited by law. By joining the UN Global Compact, however, Munich Re has made clear that it will not tolerate forced labour.
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CR portal
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Full |
HR8
(1, 2) |
Percentage of security personnel trained in the organisation’s policies or procedures concerning aspects of human rights that are relevant to operations
Munich Re’s Code of Conduct applies to its own security staff. For external security personnel, the conditions of the new Purchasing Guidelines apply, which require that all new supply and service contracts must contain a corporate responsibility clause based on the UN’s Global Compact.
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CR portal
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Not applicable |
HR9
(1, 2) |
Total number of incidents of violations involving rights of indigenous people and actions taken
In the period under review, no business operations were identified in which the rights of indigenous peoples were violated. This aspect is of little relevance in Munich Re’s business. By joining the UN Global Compact, however, Munich Re has made clear that it will not tolerate the violation of the rights of indigenous people.
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CR portal
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Full |
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3. Society |
SO
(10) |
Management approach
For us as a global risk carrier, a prospective, prudent and responsible approach is self-evident. We therefore aim to take due account of economic, ecological and social requirements in our operations. That is why the coordination of corporate responsibility is located in our Group Development Division – to ensure that we meet the aforementioned aim both in our business and in our interaction with society.more
Each Munich Re company has an effective anti-fraud management system in place. A corresponding directive sets out the specific duties and responsibilities that play an important part in preventing and combating fraud.
Also important to us are preventing and combating corruption and financial crime. Key guidelines are provided by our Code of Conduct, which specifies our rules for legally impeccable conduct, based on ethical principles, and describes our understanding of the relevant values.
We also exercise our corporate responsibility in the communities in which our operations are located. The focal points of our social commitment are the active promotion of science and the support of socially disadvantaged youngsters and people in need. For our international social commitment, we have designed a Group-wide corporate citizenship concept that contains concrete sponsorship criteria. In addition, we have established ourselves as a patron of the arts and culture. The foundations we have set up play an important part, and they make a significant contribution to sustainable development throughout the world.
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CR portal
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Full |
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Aspect: Community |
| SO1 |
Nature, scope, and effectiveness of any programmes and practices that assess and manage the impacts of operations on communities, including entering, operating, and exiting
This indicator has little relevance for Munich Re as a financial services provider: in contrast to other sectors of the economy, we have only a comparatively small impact on the local community with our office-based business operations.
Nevertheless, Munich Re is a participant in a working platform of the Bertelsmann Foundation, which is conducting research on the topic “Measuring benefits and implementing respective Group-wide tools”. The working group has developed the so-called “iooi method” to measure and plan corporate citizenship (CC) impact. A code of practice was published in 2010 in which we actively participated. We are planning to use these results together with the London Benchmarking Group (LBG) recommendations for future measurements.
Memberships are checked for their benefit/cost effectiveness and their specific outcome on a yearly basis by the Corporate Responsibility Department (within the Group Development Division) and by each responsible department, as are donations and corporate responsibility sponsorship activities. The survey includes the expenses for CC and information on special projects and activities in this field. A network to foster contact and exchange between the different business units was implemented by the end of 2011. The evaluation of work/projects is also a key issue for the Munich Re Foundation (MRF), and all three foundations are part of our integral and holistic corporate responsibility. The Board of Trustees of MRF holds two meetings every year to systematically monitor project quality, risks and chances. Project success and impact are key concerns, good reporting and evaluation are key priorities, and projects undergo a regular audit. The most recent evaluation of the foundation’s work was conducted by an external expert team (AgenZ, Frankfurt, Germany). Its summary attests successful work and good progress. It is essential to know how deep the impact of the projects is and what can be improved. The impact of our CR commitment is reflected in the increasing number of applications and demands for support, sponsoring, cooperation and partnerships in CR-related sectors at Munich Re.
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Not relevant |
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Aspect: Corruption |
SO2
(10)
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Percentage and total number of business units analysed for risks related to corruption
An anti-fraud analysis covering all business units and regions is conducted as part of the internal Group-wide risk-control system (ICS).
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CR portal
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Full |
SO3
(10)
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Percentage of employees trained in the organisation’s anti-corruption policies and procedures
Our employees are regularly informed about the issues of anti-corruption and fraud in work instructions, courses and presentations. The aim of these programmes is to inform them about the main anti-corruption and anti-fraud rules, the essentials of the Anti-Corruption and Gifts & Entertainment Policies, and Munich Re’s anti-fraud principles. An expanded e-learning module for the reinsurance group on the Code of Conduct has been available to employees since August 2010. The module, based on existing learning programmes, not only deals with the issues of anti-corruption and conflicts of interest but also goes into more detail on how to handle gifts and invitations.
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CR portal
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Full |
SO4
(10)
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Actions taken in response to incidents of corruption
In 2010, we largely completed the enhancement of our internal control system (ICS), a uniform worldwide system for managing operational risks integrated across all risk dimensions and areas of the Group that both meets Group management needs and satisfies local legal and regulatory requirements.more
The Board of Management has Group-wide responsibility for the ICS, which falls structurally under the responsibility of the CRO. Experts and staff in our specialist areas are responsible for the detailed content of the system and perform the risk and control assessments, ensuring that we have been able to reinforce the harmonised understanding of risk within the Group and considerably raise awareness of the importance of risk and controls in our operational processes (further information: Group Annual Report 2011, page 123 ff.).
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CR portal
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Full |
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Aspect: Public policy |
SO5
(1–10) |
Public policy positions and participation in public policy development and lobbying
In 2010, Munich Re established a new unit within the division Group Legal (Governmental Affairs) to more effectively observe, assess and exert a constructive influence on the relevant developments and to actively communicate on a political stage. In Munich, Berlin and now in Brussels, the department coordinates a process that takes in all of Munich Re, assessing the relevant issues and developing positions valid for the entire Group.more
A focal point of Munich Re’s lobbying activities concerns issues of national, European and international supervisory legislation. In addition, Munich Re assumes a leading role in connection with the Geneva Association. An example of our activities in this connection is climate change: in line with our sustainability goals and due to our long-standing expertise, we are involved in major international activities with regard to climate change. Munich Re is an acknowledged partner for policymakers, providing excellent knowledge and advice to shape mitigation and adaptation measures for combating climate change.
Munich Re’s Geo Risks Research unit was set up in 1974 to analyse and actively address changing natural hazard risks and climate-change risks that impact our reinsurance activities. We have continually enhanced and updated our specialist expertise and, since 2008, our climate-change activities have been coordinated by our Corporate Climate Centre (CCC), a network of staff dealing with the consequences of climate change for Munich Re as a whole.
Moreover, Munich Re is the initiator of the Munich Climate Insurance Initiative (MCII) launched in 2005, and has been the sponsor of the MCII office on the United Nations University campus in Bonn since 2008. The MCII is made up of insurers, scientists, and non-governmental organisations. This wide-ranging group is united in the goal of formulating and putting in place insurance-related solutions for developing countries without functioning insurance markets in order to help combat the rising losses in these areas.
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Full |
SO6
(10) |
Total value of financial and in-kind contributions to political parties, politicians, and related institutions by country
Donations and social investment:
Corporate Citizenship funding: € 6,710,681
Therein included are political contributions/donations and the project funding of our three company foundations.
more
In 2011, Munich Re donated the sum of € 170,342 to the five main German political parties, including donations to their relevant political organisations. From 2011 on, political donations have been evenly and transparently distributed across all non-extreme parties, so that these form part of our corporate citizenship.
The projects and activities of Munich Re's three foundations (Munich Re Foundation, Dr. Hans Jürgen Schinzler Foundation, and the ERGO Foundation "Youth&Future") show how we can provide active support and deliver effective solutions for global, social and scientific challenges. Project funding of the three foundations: € 1,679,628.
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Full |
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Aspect: Anti-competitive behavior |
| SO7 |
Total number of legal actions for anticompetitive behaviour, anti-trust, and monopoly practices and their outcomes
For us, adherence to high ethical and legal standards is a matter of principle and regulated by our Code of Conduct.
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Group annual report 2011
“Notes to the consolidated financial statements”: p. 161 ff.
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Full |
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Aspect: Compliance |
| SO8 |
Monetary value of significant fines and total number of non-monetary sanctions for non-compliance with laws and regulations
For us, adherence to high ethical and legal standards is a matter of principle and regulated by our Code of Conduct.
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Group annual report 2011
“Notes to the consolidated financial statements”: p. 161 ff.
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Not reported |
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4. Product responsibility |
PR
(1, 8) |
Management approach
We are committed to high-quality insurance and reinsurance client management, maintaining close contacts and regular communications with our clients, and thus enhancing client satisfaction and client loyalty.more
Through this constant exchange, Munich Re’s products, services and processes can be geared to the clients’ needs, and this enables us to meet their expectations of us as a quality provider. All client enquiries are treated with the same professionalism and integrity: our dealings with clients are always based on the same standards. Client data are handled with strict confidentiality, personal data being recorded and forwarded to others only with the client’s express agreement. Furthermore, in respect of all mentioned services, it is important to outline that consumer protection is of utmost importance. Data and information from and about customers are handled extremely carefully based on the local standards as a minimum. Our systems are in compliance with the strict German Data Protection Act.
With regard to our insurance operations, our customer sales service and advisory activities are regularly monitored and rated by external agencies and client surveys. Certificates and service ratings awarded by prominent market research institutes confirm high customer-satisfaction levels, showing that our qualified representatives give advice tailored to individual needs. Client satisfaction is also one of the key performance indicators incorporated in the balanced scorecard objectives of ERGO sales staff.
Practices related to customer satisfaction, including results of surveys measuring customer satisfaction:
The Munich Re Group has different client bases in reinsurance and primary insurance. For both of them, client satisfaction is of great importance. External awards show that we do very well. Munich Re’s client-focused approach is based on open dialogue with our insurance and reinsurance clients.
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Full |
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Aspect: Client health and safety |
PR1
(1) |
Life cycle stages in which health and safety impacts of products and services are assessed for improvement, and percentage of significant products and services categories subject to such procedures
Munich Re’s products are not tangible and therefore have no health and safety impacts. This indicator does not apply to our sector.
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Not relevant |
PR2
(1) |
Total number of incidents of non-compliance with regulations and voluntary codes concerning health and safety impacts of products and services during their life cycle, by type of outcomes
Munich Re’s products are not tangible and therefore have no health and safety impacts. This indicator does not apply to our sector.
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Not relevant |
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Aspect: Product and service labeling |
PR3
(8) |
Type of product and service information required by procedures, and percentage of significant products and services subject to such information requirements
Munich Re’s product and service range – from development and marketing to conclusion of the business – is subject to strict quality controls. Hence no significant product or service categories are covered by and assessed for compliance with such procedures.
To further clarify insurance terms and conditions, ERGO has significantly improved the transparency of all documents. Customers receive all the information they need on the conditions of liability relating to their insurance protection in a clear and transparent format.
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Full |
PR4
(1) |
Total number of incidents of non-compliance with regulations and voluntary codes concerning product and service information and labelling, by type of outcomes
For us, adherence to high ethical and legal standards is a matter of principle and is regulated by our Code of Conduct. See also PR3.
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Not applicable |
| PR5 |
Practices related to customer satisfaction, including results of surveys measuring customer satisfaction
Munich Re’s client-focused approach is based on open dialogue with our insurance and reinsurance clients. As we have different client basis, every entity has its own customer satisfaction measurement.more
In general, we measure Munich Re’s company image on a regular basis. For example, we participate in Flaspöhler studies (Flaspöhler Europe Non-Life Survey and Flaspöhler Europe Life Survey, which both take place every two years) and achieved top positions in 2006, 2008 and 2010. The survey consists of questions about reinsurer utilisation, perceptions of reinsurers, products and services, reinsurer selection and associated topics, such as Solvency II. The results of the 2010 Flaspöhler survey, the main cedant survey, confirmed Munich Re’s position as best non-life and life reinsurer. This was the third consecutive time Munich Re had gained the title, having previously done so in 2006 and 2008. Munich Re was also voted “Reinsurer of the Decade 2001–2010”.
Since 2007, on a yearly basis, customer satisfaction ratings for ERGO have been monitored by an external market research institute, the results being incorporated in ERGO’s balanced scorecard. German inspection agency TÜV has awarded ERGO’s highly professional client management a “good” rating on service and client satisfaction. ERGO’s claims management, which is subject to regular quality checks, claims audits and controls, is certified to Germany’s DIN EN ISO 9001 standard. Its client services are centrally managed and coordinated, the same quality standards applying to all ERGO Group companies.
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CR portalGroup annual report 2011
“Clients and client relationships”: pp. 112 – 113
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Aspect: Marketing communications |
| PR6 |
Programmes for adherence to laws, standards, and voluntary codes related to marketing communications, including advertising, promotion, and sponsorship
Munich Re’s product and service range – from development and marketing to the conclusion of business – is subject to strict quality controls.more
We see it as our duty to ensure transparency and to present the terms, conditions and prices of our products and services clearly and coherently, carrying out regular checks of our marketing activities and advertisements to ensure they are understandable to clients.
The corresponding activities and procedures are governed by an internal code of conduct, which sets binding standards and rules, including a commitment to fair and open dealings with business partners and clients.
Together with the German consumer magazine “Guter Rat” (“Good Advice”), the Institut für Transparenz in der Altersvorsorge GmbH (ITA), an institute aiming at transparency in old-age provision, tested the contents of several Riester pension product information sheets for clarity. According to the experts, the product information sheet from German life insurer ERGO Lebensversicherung is the easiest to understand and was voted the winner.
Since the reform of the German Insurance Contract Act in 2008, insurance policies must highlight all the key information to customers in product information sheets. The product information sheet acts as a simplified summary of the General Terms and Conditions of Insurance and should enable customers to understand exactly what they are signing.
Furthermore, all ERGO sales agents have to comply with a special code of conduct.
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| PR7 |
Total number of incidents of non-compliance with regulations and voluntary codes concerning marketing communications, including advertising, promotion, and sponsorship by type of outcomes
For us, adherence to high ethical and legal standards is a matter of principle and is regulated by our Code of Conduct.
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Group annual report 2011
“Notes to the consolidated financial statements”: p. 161 ff.
“Munich Re Code of Conduct”: p. 31
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Full |
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Aspect: Customer privacy |
PR8
(1) |
Total number of substantiated complaints regarding breaches of customer privacy and losses of customer data
For us, adherence to high ethical and legal standards is a matter of principle and is regulated in our Code of Conduct and our safety regulations. Munich Re has not received any information about material breaches of privacy rules.
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Full |
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Aspect: Compliance |
| PR9 |
Monetary value of significant fines for non-compliance with laws and regulations concerning the provision and use of products and services
For us, adherence to high ethical and legal standards is a matter of principle.
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Group annual report 2011
“Notes to the consolidated financial statements”: p. 161 ff.
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Full |
