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22.11.2018

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    weflip

    GoCompare.com Group plc

    weflip is an innovative switching service that automatically keeps households on cheap energy deals, forever. weflip’s ‘sign up once, save forever’ service automatically moves its customers onto better energy deals, removing the hassle that’s led to 54% of UK homes being on bad-value default tariffs.

    What customer problems did you set out to solve?

    Most households are on expensive default energy tariffs overpaying by, on average, £352 per year. A significant reason for this is the hassle people associate with manual switching. weflip automates as much as possible, so households can outsource this chore, saving them time and money year after year. This easy, hands-off approach to continuous saving has the potential to bring overpriced energy deals permanently to an end. This powerful tool tracks energy deals daily and it’s anticipated that customers will be switched once or twice a year, when a significant (min. £50) saving can be made.

    What differentiates your proposition from other offerings in the market?

    weflip is the first mainstream energy auto-switching service to launch in the UK and offers one of the broadest ranges of energy deals across the auto-switching industry. It has direct relationships with energy suppliers, something that others do not. weflip is backed by GoCompare.com Group plc, which operates one of the UK’s most successful price comparison sites, which has saved its customers £2.9billion over the last three years on car and home insurance alone. Different to other auto-switching services, weflip doesn’t charge its customers, but makes money by charging a fee to the energy suppliers who gain customers through the service. This is a win-win for suppliers and customers and creates a sustainable switching environment.

    How did you go about proving / validating that your concept has potential for impact?

    Through exhaustive research and development, including in-depth discussions across the industry (suppliers, Government departments, trade bodies and the regulator) we have tested the concept and received universal support along the way. Since launch, on 15 October 2018, we have seen people from across Britain sign up and flip, saving hundreds of pounds on average. We know that of the UK’s 28 million households, only around 2.5 million could be considered regular switchers. That leaves a huge opportunity for services like weflip to help millions of people cut their bills for good.

    What’s next for your proposition?

    We are busy learning from our customers and iterating to make the service even more user-friendly and effective. Once we’ve done this, our aim is to reach as many people across the UK as possible. We want to take auto-switching from the periphery and turn it into a mainstream service.

    Find out more about weflip here

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