BillTrim Says It Can Save You $450 on Your Car Insurance
The one-year-old Mountain View-startup is on a mission to make sure one never overpays for services such as: cable, phone, electricity, internet, gym, and auto-slash-home-slash-health insurance. It earns 25% of what it saves the customer. Here’s how it works: user signs in with facebook and uploads her bills, to later have BillTrim’s team call the relevant vendors to negotiate a better deal. BillTrim promises to have feedback back by the user’s next billing cycle. According to its website, it can save an average of $450 on one’s annual car insurance premium:
Early-stage venture fund 500 Startups, that’s currently in crisis management mode, thinks this is a good idea and has invested $150K in the company. One last thing. Startup Earny comes to mind – a mobile app that gets users money back on their online purchases. At one point its founder said it will consider entering insurance. Thinking out loud: one needs more than a car/home/health insurance bill, to negotiate a better deal. Bottom Line: unscalable.