Use of Savings Hub and trust structures

MaxMyLife

Hi I'm new here. Hope it's OK to post this, I don't think Martin's site offers an equivalent service so I don't think I'm promoting a direct competitor. 
I am thinking of signing up to the Savings Champion website's Saving Hub, where essentially they broker the individual's relationship with a number of banks. It's supposed to make it easy to switch cash savings to different accounts to maximise returns. 
It turns out the way they work is that everyone's money is held in trust by the Savings Hub, and they pool people's money and open accounts. If they went insolvent which does seem unlikely, I'd have to follow whatever process to get my money back, and if a bank went insolvent I'd be reliant on their paper trail to justify my protection under FSCS rules. 
Has anyone used this or a similar service, and can comment on the pros and cons? The big pros are identifying myself once instead of to multiple banks, and being able to move money quickly to take advantage of interest rates. The con I can see is the paperwork involved in the event of any insolvencies, and what at least at the moment feels like a less transparent process if that happens. I'd be interested in anyone's experiences.