UK energy retailer Love Energy Savings has announced that it has witnessed an increase in the number of customers leveraging its platform to reduce their energy bills.
The energy retailer claims its new smart technology platform helps customers to save an average of £875 ($1,095) on their bills.
Conversion rates have rocketed by 39% since the launch of the retailer’s platform in June.
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 platform allows customers to quickly get the best energy deal available to them. Love Energy Savings predicted that shoppers who failed to switch were missing out on potential savings of £328 million ($410.5 million) a year.
The proprietary cloud-based software uses AI to drive increased conversion rates by better understanding what energy 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.
Since March 2020, Love Energy Savings has saved their customers more than £2.8 million ($3.5 million) off their energy bills.
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 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 online process half way through and ultimately prevents many people from switching.”