2020 Innovation Name: Energy Switch
Awards: 6th Most Innovative Banking, Superannuation and Financial Services Company
After submitting a previous bill, 86 400’s Energy Switch service intelligently re-calculates the bill using hundreds of other plans to find cheaper deals. With no commissions and an industry-first one-tap switch, customers can confidently switch-and-save in minutes. An industry first, after selecting a cheaper plan, customers can avoid completing lengthy application forms by consenting to their personal information held by 86 400 being seamlessly shared with the new energy retailer, ready for onboarding.
Over the three months since launch, over 1,200 electricity bills have been processed and cheaper plans found for around 70% of customers who tried the service, delivering savings of between $135 and $2000 per annum.