25 September 2023
Fairer Finance enhances strategic focus with high profile appointment to lead behavioural economics and data science team
In a significant strategic move that amplifies its commitment to shaping the financial services landscape, Fairer Finance announces the appointment of Tim Hogg as Director to lead its pioneering Behavioural and Data Science Team.
Tim’s hire will significantly strengthen the consumer group’s capacity to guide companies through the intricacies of regulatory compliance, notably the new Consumer Duty.
Tim Hogg brings a wealth of experience to this critical role, having spent 10 years advising both public and private sectors on the design and implementation of regulation. Formerly a Senior Consultant at Oxera, the economics and finance consultancy, he spearheaded the behavioural economics practice and demonstrated his expertise including winning the 2018 Future Leaders Competition organised by the International Institute of Communications. Moreover, his counsel has been sought by top-tier organisations, including testimony to the European Commission on matters of competition law.
Tim will specialise in scrutinising the Consumer Duty impact across business models, product innovation, pricing dynamics, and consumer communications. His work aims to distil the complexity of regulatory stipulations into actionable insights and strategic plans, thereby enabling financial firms to not just comply with the law but to thrive within it.
James Daley, Managing Director at Fairer Finance, commented: "Consumer Duty is the biggest change to regulation in 20 years – and Tim’s appointment will significantly enhance our ability to support firms in managing that shift. We have already worked with dozens of firms to help them prepare for the new regulations, and Tim will help us broaden our approach to include more data science and behavioural economics in our work.”
Tim has a robust track record of advising firms on the fair value of their products across the breadth of financial services —from general and life insurance to investments, pensions, savings, mortgages, and consumer credit. His emphasis on quantifying consumer outcomes and perspectives sets the stage for not just compliance but the delivery of superior value.
Tim Hogg, Director at Fairer Finance, commented: "I am thrilled to join Fairer Finance, an advocate for fairness in financial markets. Consumer Duty is not just a check-the-box exercise; it’s a comprehensive, multifaceted obligation that demands a nuanced approach. By harnessing the immense potential of behavioural and data science, we can deepen our understanding of human decision-making processes, allowing firms to authentically put consumers at the heart of their business models."
The strengthening of this specialised Behavioural and Data Science Team under Tim's leadership will serve as the cornerstone for Fairer Finance’s cutting-edge advisory services, establishing the organisation as the go-to consultancy for firms aiming for compliance that adds value, rather than mere box-ticking.
For more information, please visit https://www.fairerfinance.com/.
Notes to Editors
For further information, please contact:
Karen Mignon, KM Comms: email@example.com / +44 7766 651327
Louise Ahuja, KM Comms: firstname.lastname@example.org/ +44 7788 676913
About Fairer Finance
Fairer Finance is an independent consumer group and ratings provider whose mission is to help create a financial services market which is fair for consumers as well as the companies that serve them. With a heritage spanning almost a decade, Fairer Finance’s unique and impartial Product Ratings are simply designed to help consumers make sense of the complex world of financial products. It rates over 6,000 products spanning over 20 sectors, ranging from bank accounts, credit cards, car insurance and travel insurance. Its Customer Experience Ratings are designed to help consumers make more informed decisions based on quality and service and not just price (eg trust, complaint-handling, transparency etc).