OUR COLLABORATION WITH SUPPLIERS AND PARTNERS
Together with our suppliers and partners, we have a responsibility and opportunity to empower sustainable consumption.
We want to live up to the promise of being a responsible purchaser and to anchor sustainability within all our procurement decisions. While we have a common approach for all our categories, we are in particular accelerating our efforts within sustainable claims handling.
OUR APPROACH TO SUSTAINABLE PROCUREMENT
As a large buyer with a significant annual purchasing volume, Tryg has the opportunity and responsibility to work together with suppliers to change consumption patterns and promote positive environmental and social progress. Sustainability is an integral part of our sourcing and procurement processes. We live up to our commitment through the products and services we purchase and the contractual agreements we make.
We choose
At Tryg, we choose to work with suppliers who share our values and show commitment to sustainability. We are a signatory member of the UN Global Compact. Thus, we expect our suppliers and partners to, as a minimum, adherer to the principles that are outlined in our Supplier Code of Conduct. We evaluate our suppliers' sustainability compliance and performance through the information they share with us and provide advantages to our suppliers that are good at it.
We collaborate
We collaborate with our suppliers to deliver social and environmental progress. We invite suppliers and customers to join our quest for more sustainable claims handling. We actively engage in dialogue especially when we consider entering into new agreements and when we evaluate existing ones.
We opt-out
We do not select or work with suppliers, products or services that violate international agreements, national laws or internal guidelines such as our Supplier Code of Conduct.
ACCELERATING OUR EFFORTS BY SETTING AMBITIOUS TARGETS
We account for our sustainable procurement performance by reporting on our three main targets in our sustainability report.
Follow our progress by reading our Corporate Responsibility report.
40% of the screened suppliers are to achieve a positive performance rating by 2023. our target for 2024 is for up to 50% of our screened supplier to achieve a high performance rating. In 2021, we added the sub-target for up to 70% of our screened suppliers within claims to achieve a high performance.
Tryg will monitor our supplier's sustainability compliance and performance by following up on the information that our suppliers share with us through our systematic screening process. We evaluate suppliers with regards to our minimum requirements, as well as in terms of their contribution to positive environmental and social progress. We are proactively using the feedback and results received to enter into dialogue with our suppliers on how we can actively strengthen our suppliers' commitment.
It is of high importance for us to ensure that as many as possible of our claims handling activities are classified as sustainable. Being a non-life insurance company, one of our biggest impacts derives from our claims handling processes. Each year, Tryg handles more than one million claims. Making our claims handling processes more sustainable, is a great responsibility and opportunity for Tryg that requires innovative thinking from us and our suppliers, partners and customers.
The carbon footprint of Tryg's claims handling activities is significant in comparison to the rest of our carbon footprint, hence we pay special attention to sustainable claims handling. We report on climate-friendly claims handling initiatives year by year. Further initiatives will be aimed at documenting carbon emission reductions through performing life-cycle analyses and collaborating with our suppliers to identify more opportunities for reducing CO" in our claims handling processes.
We aim to cooperate with suppliers and partners that share our values and show commitment to promoting the respect of human and labour rights, environmental protection, anti-corruption and any factors which contribute to the overall welfare of society. As part of our procurement processes at Tryg, we take criteria related to environmental, social and ethical standards into account when selecting and evaluating suppliers and encourage all suppliers to get into a dialogue with us on how to further environmental and social progress and how impact can be achieved.
In 2020, we designed a transparent, systematic screening and follow-up procedure in collaboration with an external supplier evaluation platform provider. The platform enables us to evaluate our suppliers in terms of our minimum requirements described in our Supplier Code of Conduct and to conduct ESG (Environmental, Social and Governance) risks screenings of our suppliers. Furthermore, the platform is being used to collaborate closely with our suppliers to drive positive impacts and increase our suppliers’ sustainability performance.
Tryg invites all suppliers to participate in our supplier sustainability evaluation program. From 2021 onwards we will gradually invite our contract suppliers to answer the information requests they receive and evaluate our suppliers with regards to their progress on those thematic areas.
What can our suppliers expect?
Apart from the evaluation, suppliers may be asked additional questions on sustainability as part of a tender or contract renewal.
More information for our suppliers can be found in the letter to our suppliers as well as in our Supplier Code of Conduct.
DO YOU WANT TO JOIN US ON OUR QUEST?
Do you have an idea on how we can handle a claim more sustainable? Do you have any input in regards to our supplier evaluation? Or do you have any questions?
We would like to hear from you!