The TrustSeal is the world’s first kitemark for sharing economy companies.
It is a set of good practice principles to set out minimum standards for sharing economy businesses to ensure that they act with integrity and maintain professional standards.
In meeting these principles, businesses will be awarded with the TrustSeal to display on their own digital properties.
The TrustSeal therefore underpins the principles in order to convey a sense of trust and good standing in the market, and with both providers and consumers of services.
The performance criteria, outlined by world-class business and sharing economy experts are assessed over 6 broad principles of good practice including:
- Identity and Credential Verification
- Transparent Communications and Pricing
- Participant Help and Support
- Security and Data Protection
- Insurance and Guarantees
- Peer Reviews
A new subcommittee of the Sharing Economy UK Board, the Sharing Economy UK TrustSeal Committee (SEUKTC), has been established to grant the TrustSeal to businesses meeting the Principles. SEUKTC will also have the power to remove it in cases of non-compliance.
The committee will have the support of an Expert Advisory Panel
The TrustSeal was established by Sharing Economy UK in partnership with Oxford University SAID business school – who developed the research into what consumers and companies thought would be valuable from TrustSeal. PricewaterhouseCoopers also helped inform the design of the TrustSeal.
Expert Advisory Panel members
- Rachel Botsman (Sharing economy expert)
- Graeme Trudgill (Executive Director of BIBA)
- Alison Hastings (former BBC Trustee and Chair of Editorial Standards Committee)
- Trevor Pearce CBE QPM (former Director General of the Serious Organised Crime Agency)
- Mark Gallagher (Founding Partner of PageField Communications and former Executive Director of ITN, Camelot and ITV).