Energy retailer, Love Energy Savings, is celebrating a surge in customers enjoying an average £875 off their bills following the launch of their new smart-tech platform.
Conversion rates have rocketed by 39% since the system – which allows customers to quickly get the best energy deal available to them – went live in June.
It comes as analysis by Love Energy Savings showed shoppers who failed to switch were missing out on potential savings of £328million a year.
Created entirely in house, the platform removes one of the most significant barriers to switching – by allowing shoppers to search for a better energy deal with just their postcode.
Other switching services require visitors to provide details of their current supplier and usage before they can see what offers are available to them.
The proprietary cloud-based software uses AI to drive increased conversion rates by better understanding what Love Energy Savings retail store customers are looking for.
The innovation is part of the retailer’s ongoing commitment to driving change and simplicity in the marketplace by using technology and transparency to save customers money and time.
Love Energy Savings CEO, Phil Foster, said: “We’re determined to ensure each and every one of our customers gets a brilliant deal on their energy – served up in a simple way by matching their usual retail experience when purchasing products.
“That’s why we strive to make the process is as simple as possible to deliver an enjoyable shopping experience for the half a million customers who use our online store every year.
“Being forced to enter details of your current supplier and energy usage is a significant barrier that sees customers abandon the process and ultimately prevents many people from switching.
“Our talented team of developers have overcome that challenge by building a world-class new web platform that makes it easier than ever for consumers to save on their energy bills.”
Operating across the domestic, SME and industrial sectors, their pricing transparency and whole-of-market approach offers customers the most extensive choice of tariffs of any energy retailer.
Foster added: “We are so proud of the technology we’ve created and know that it has the potential to drive a fundamental change in how the energy marketplace operates.
“By removing hurdles and complexities for both our domestic and business customers we are ensuring they get a fantastic deal on their energy and are dragging the energy retail market into the 21st century.
“We’re already noticing behaviour in the business market changing with micro-SMEs behaving much more like consumers and wanting to switch their energy tariffs one hundred per cent online and in full control.”