ANNOUNCEMENT: Lloyds Banking Group integrates our Benefits Calculator. Learn more.
ANNOUNCEMENT: Lloyds Banking Group integrates our Benefits Calculator. Learn more.
We are announcing a new feature to calculate the entitlement to telecom social tariffs. Telecom social tariffs are cheaper broadband, phone and mobile deals offered by some providers to people on certain benefits and can save them up to £300/year.
In our relentless effort to put more money into the pockets of financially vulnerable people, we are proud to offer the widest benefits coverage available in the market. We are the only benefits calculator that covers passported benefits and social tariffs, which can increase the income of the most vulnerable households by up to £1,900/year.
Telecom social tariffs are cheaper broadband, phone and mobile deals offered by some providers. Most people don’t realise these deals are available and it’s estimated that just 14% of the 5 million people who qualify are making use of these deals. The low take-up is so acute that the government sent a letter to broadband firms stating that they ‘must do more to promote social tariffs’.
We have used our benefits engine and analytics platform to understand the impact of telecom social tariffs on our customers’ financial lives. Overall, 50% of our customers are entitled to broadband and mobile social tariffs, which can save them up to £300/year.
Passported benefits are a powerful tool to provide extra support to vulnerable people (e.g. single parents and households with a member with a disability) and can be worth up to £1,200 per year. Meanwhile, social tariffs can save vulnerable customers £670/year.
Passported benefits and social tariffs are especially useful during the ongoing cost of living as they reduce essential households’ expenses such as bills (e.g. Warm Home Discount, Winter Fuel Payment, Social Tariffs) or food (e.g. Free School Meals, Best Start Grant and Best Start Food). For further information, you can read here about our benefits coverage, here about the impact of passported benefits and here our coverage of water social tariffs.
We partner with a wide range of companies, from financial firms to government agencies and charities, to automatically identify households with unclaimed benefits, nudge them to check their benefits entitlement and support them on their benefits applications. Our partners embed our benefits platform in their user journeys to help their customers find an average extra income of £5,300/year while increasing customer loyalty and engagement.
Feel free to reach out if you want to explore how you can embed a benefits check into your digital journeys and view our benefits platform in action!
