29 May 2014

Hiscox is first to sign up to Fairer Finance’s endorsement scheme

Global specialist insurer Hiscox has become the first company to sign up to Fairer Finance's endorsement scheme.

Global specialist insurer Hiscox has become the first company to sign up to Fairer Finance's endorsement scheme, just two months after the consumer group's first ratings were released.

In the Fairer Finance rankings, Hiscox is currently the number one home insurance provider, with excellent scores for customer happiness, complaints, trust and transparency.

The insurer is one of just a handful of brands that have been awarded a Fairer Finance gold ribbon in this sector - and its participation in the endorsement scheme means it will now be able to display the ribbon on its website and marketing literature.

James Daley, founder and managing director of Fairer Finance, said: "Our gold ribbons are designed to be a mark of quality - helping people to identify banks and insurers that have happy customers and a track record for treating their customers fairly.

"Hiscox is one of the few insurance brands that is synonymous with excellent quality and service, so we're delighted that it is the first to sign up to our endorsement scheme.

"Too often, customers end up choosing their insurer based on price alone - and only learn about the quality of the company they're dealing with when they come to claim. By picking a company that has been awarded one of our gold ribbons, they can have the confidence that they're buying from a business that is one of the best in its class."

Kate Markham, Managing Director of Hiscox UK Direct, added: "Insurance is notorious for being complicated – full of jargon and small print – but we’ve found that people want to speak to someone who can cut through this to give them a straight answer. Delivering excellent customer service is at the very heart of our business; we don’t use scripts, we employ people based on their attitude rather than experience, and we primarily reward our teams according to customer satisfaction levels rather than the number of sales they make.

“Signing up to Fairer Finance’s endorsement scheme was therefore a natural next step for us and we will be using the Fairer Finance ribbon with pride in our communications to existing and potential customers – including in our new Home marketing campaign.”

Fairer Finance was set up by James Daley and Andrew Freeman in 2014. Its mission is to create a fairer financial services market for all consumers, and to encourage companies to compete on customer service and quality.

Using unique analysis, Fairer Finance ranks banks and insurers based on what their customers think of them, how good they are at handling complaints and how transparent they are. The highest rated companies in each sector receive either a Gold, Silver or Bronze Fairer Finance ribbon. Find out more at www.fairerfinance.com.


Notes to Editors

Fairer Finance
James Daley
+44(0) 7747 830 105

Hiscox Ltd
Lucy Hensher
+44(0) 20 7448 6619

About Hiscox

Hiscox, the international specialist insurer, is headquartered in Bermuda and listed on the London Stock Exchange (LSE:HSX). There are three main underwriting divisions in the Group - Hiscox London Market, Hiscox Re and Hiscox Retail (which includes Hiscox UK and Europe, Hiscox Guernsey, Hiscox USA and subsidiary brand, DirectAsia). Hiscox underwrites internationally traded, bigger ticket business and reinsurance through Hiscox Re and Hiscox London Market. Through its retail businesses in the UK, Europe and the US Hiscox offers a range of specialist insurance for professionals and business customers, as well as homeowners. For further information visit www.hiscoxgroup.com.