Remuneration policy Eye Underwriting

Risk management

Under no circumstances can the employees of Eye Underwriting B.V. (hereinafter: Eye) be lead by a financial incentive. Eye considers it important for customers to be accurately and transparently informed about a requested insurance policy. Based on our corporate culture, we consider it important to put the customer first and provide our customers with independent advice. We are transparent in our remuneration as a company and that of our employees.

The intention of Eye is to ensure that its employees put the long-term interests of the organisation and the customer first in their actions and do not let their personal interests prevail. We ensure this by randomly checking the work done by our employees, listening to telephone conversations recorded for training purposes and providing “on the job” coaching; and complaints of dissatisfaction are always handled by focusing on the customer’s interests.

This control has been drawn up and elaborated according to the core values of a Controlled remuneration policy as prescribed by the AFM. This will be reviewed periodically in order to assess whether we are still complying with it and therefore do not need to adjust our corporate structure.

Fixed remuneration for employees

Eye chooses to tailor remuneration to each individual employee. That is because no two employees or positions are the same in terms of knowledge, experience and personal qualities. If employees perform well, achieve a good level of development and put in extra effort, it is possible that they may be awarded a salary increase at their annual review.

During the annual review consisting of a performance and appraisal review, any salary adjustment will be determined by the management. These percentages are reviewed and determined annually by the management. Eye has no fixed classification with regard to job scales and linked salaries. However, a standard has been indicated for each position for the minimum and maximum salary per position. These are always specified in vacancies posted for the sake of transparency. In addition, Eye shall adjust the remuneration that it pays to its employees in line with market rates as much as possible.

Holiday pay

A holiday bonus of 8% is accrued on the employees’ fixed salary. This bonus is accrued on the actual salary paid during the period from 1 June to 31 May inclusive. Holiday pay shall be paid annually with the employee’s salary for the month of May. Naturally, the payment will be made pro rata according to the number of months that the employee has been in service.

Variable remuneration for employees

It is not possible for Eye employees to be eligible for a (variable) bonus. For all positions within the company, employees receive fixed remuneration that is based on their knowledge, experience and personal qualities.

Other Fringe benefits

Travel allowance

Travel allowance is used for employees who travel more than 10 km each way per day from home to their place of work using their own transport. The number of commuting kilometres is determined based on the shortest route according to the ANWB route planner. We distinguish between two situations with regard to this, namely employees travel to the office/workplace using their own transport and employees who use Public Transport.

Own transport allowance

The current fiscal rate of € 0.19 per kilometre is applied to this allowance. If the employee works part-time, then the travel allowance is applied proportionally.

Public transport allowance

If the employee uses public transport (train, tram, bus, metro), the actual costs involved will be reimbursed by the employer based on set scales. The starting point for this is that the most economical transport ticket or form of season ticket is chosen based on 2nd class travel.

Company car

In the case of certain positions, one of the benefits may be that the employee is provided with a company car by the company. However there are no fixed arrangements on this, the situation will be assessed for each employee individually.