uSwitch.com is a UK company that provide an online comparison and switching service.
Through their site, consumers are able to compare prices for a range of energy, personal finance, insurance and communications services. The products they handle include gas, electricity, water, home telephone, mobile phones, broadband, digital TV, personal finance products, heating cover and car insurance. uSwitch are always looking to expand their product base and expect to introduce new lines later in 2012.
According to The Times uSwitch is one of the two most established price comparison websites, and has been highlighted as being among the best money-saving websites for students.
Company History
Uswitch was launched in September 2000 by British businessman and peer Lord Milford Haven. Set up to take advantage of the UK’s deregulated gas and electric markets with an initial investment of £4 million, uSwitch soon expanded its portfolio to include the telecommunications market.
To consolidate its position in the market uSwitch acquired buy.co.uk in 2001 and followed it up by buying the local community website UpMyStreet two years later.
By 2006 uSwitch was the market leader in the UK for the comparison and switching market and were acquired by an American media business, E.W. Scripps Company for the princely sum of £210 million.
Three years later Scripps sold uSwitch to Forward Internet Group, a private company with a collection of consumer facing internet-based business’s.
How uSwitch works
When looking to compare prices, consumers are asked a range of questions covering location, prices, payment method and service type. uSwitch’s software then searches through their database of relevant service providers and displays a selection of cheap, or cheaper deals that meet the criteria set by the consumer.
At that point the consumer can decide to switch there and then through the arrangement that uSwitch has with the particular service provider. Alternatively, the consumer can approach the provider directly and switch their service through them.
This service is free to the consumer. uSwitch make their money by receiving a commission from the service providers for introducing the consumer to them.
The commercial relationships that uSwitch have with their suppliers do not influence the order in which services are ranked when displayed to the consumer.
There are no direct costs to consumers for the service. The company receives commission from some suppliers when a customer chooses to switch through the uSwitch site.
Visit uSwitch today and see how much you can save!
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