Will Hodson and Henry de Zoete originally decided to take on the UK’s domestic energy suppliers in 2014. They built a collective company called The Big Deal to get the best energy supply deal for their members, and four years later in 2018 that collective company had grown to 400,000 members.
The problem was the fact that those members still had to perform the switch when a better deal was found. They started to ask whether the switching process could be automated.
The Big Deal listened, and in 2018 Look After My Bills was launched. This new business secured a record £120,000 for 3% of the business on the TV show Dragons’ Den. Look After My Bills was recently bought out by GoCo Group, the owner of the Go Compare comparison website, in a deal worth £12.5 million.
An impressive feat for such a relatively new company. So what does Look After My Bills do, how do they do it, and is the Look After My Bills service any good?
This is a no-brainer and a 2 minute way to save £100+. It’s so simple that more and more people are using an energy switching service like Look After My Bills. Moneymagpie called this company a ‘game-changer’.
What Does Look After My Bills Do?
Look After My Bills aims to get its customers a better deal for their domestic energy supply.
Only one in five customers switched their energy supply last year despite the fact that switching is an easy process that takes very little time. The majority of customers have not switched for at least four years.
Many of the customers who have not switched energy provider are paying more than they need to pay for their domestic energy as a result.
Look After My Bills scour the market for better deals which could save these people money.
How Do They Do It?
Look After My Bills is a comparison website with a difference.
Most comparison websites enable you to get quotations from a range of suppliers but you need to visit the comparison website on a regular basis to request those quotations.
If a better energy supply deal is on offer you have to decide whether to accept it and switch, or stay with your existing supplier. If you decide that you want to switch you have to arrange the switch yourself.
Having switched, you need to keep going back to the comparison website to check that the energy supply deal that you switched to is still the most competitive deal for your circumstances.
The Look After My Bills service also scours the market for you when you sign up, but the difference is that if a better energy supply deal is available you are automatically switched to it without needing to do anything.
Another major difference is the fact that you don’t need to remember when your energy supply deal is due to end and you don’t need to do anything when it does end. At that point Look After My Bills will scour the market again automatically to make sure that your deal is still the best deal available and switch you again if need be.
This means that once you have signed up to the Look After My Bills service you no longer need to worry about whether you are getting the best energy supply deal. Whenever a better deal becomes available, the service will automatically switch you to it.
There is no charge to use the Look After My Bills service. The company makes their money by earning commission from energy suppliers when they switch customers.
Is The Look After My Bills Service Any Good?
The online reviews of Look After My Bills at TrustPilot are mostly glowing. The service scores 4.6 out of five stars with 90% of reviewers rating the service either good or excellent. As well as praising the service for having saved them money, many of the reviewers also praise the fact that the service is incredibly easy to use.
It’s a similar story on Facebook where Look After My Bills score 4.1 out of five stars. Like the TrustPilot reviewers, the Facebook reviewers have praised Look After My Bills for saving them money and designing a system that makes it easy for them to ensure that they are on the best possible energy supply deal.
The only downside is that although Look After My Bills claims to check the entire market to find the best energy supply deals, they only actually check the deals on offer from the energy suppliers that pay them a commission when a customer switches. As a result, it is possible that there are better deals available for some people.
However, for most people that won’t make too much difference because if they weren’t signed up to the Look After My Bills service they wouldn’t be getting energy supply quotations every year. In other words, people using the Look After My Bills service might not be getting the best possible deal, but by using the service they’ll still be getting a better deal that they would have got otherwise.
There are a number of reasons that many people don’t switch their energy provider, or at least check that their current energy deal is the best deal available to them.
Checking to see whether there is a better deal takes time. You have to remember to do it when you get to the end of your current deal. If there is a better deal available you have to spend yet more time dealing with the switch.
But not checking could mean that you are paying more for their energy than you need to pay because you aren’t on the best deal.
By automating the process, the Look After My Bills service makes it almost impossible not to be on the best energy supply deal once you’ve signed up. Signing up costs nothing, there are no ongoing costs, and Look After My Bills will only switch you to a different energy supplier if there is a better detail available.
If you are interested in Look After My Bills click the image below:
Tel: 020 3950 1166
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