James Daley

By James Daley

Fairer Finance reaches an important milestone today. Just two and a half months after our launch, we've signed up the first company to our endorsement scheme.

Hiscox, which is the top rated brand in our home insurance tables, will now be able to start using our gold ribbons on its website and marketing literature - and we're delighted that our first subscriber is a company with over 100 years of heritage and a fantastic brand that is synonymous with good customer service and excellent quality products.

We've been talking to lots of other companies about signing up to the scheme as well. But we're particularly grateful to Hiscox that it was so keen to be the first, and saw a clear alignment between our mission and its values as an organisation.

Although we need to sign companies up to our scheme to remain commercially viable, the success of our endorsements is also crucial to achieving our broader mission to create change in banking and insurance. Where people see the Fairer Finance ribbon, we hope they will recognise that they are dealing with a company which treats its customers well.

If our ratings and endorsements can begin to shape customer behaviour - and make customers choose companies who have a good track record for service and transparency, not just a competitive price - then it must follow that poorer performing companies will have to up their game to compete.

We hope Hiscox is the first of many.