Speciality insurer HSB announced it has signed an agreement with Flume to refer to its flow-based home water leak detection service for its insurance clients.
The Flume Home Water Protection Service uses a single sensor to monitor water flow and detect leaks, which results in billions of dollars in property losses every year. As part of the agreement, HSB will recommend Flume’s water leak programme to insurance carriers and other HSB partners that can distribute Flume’s smart sensors to homeowners.
“We are pleased to add Flume’s leak detection service to HSB’s network of proprietary technologies and technology partners,” said John B. Riggs, Chief Technology Officer for HSB, part of Munich Re, and Senior Vice President of HSB Applied Technology Solutions. “The addition of Flume’s water flow sensor system supports HSB’s mission to help customers use the latest internet-connected technologies to protect their property and possessions. Flume’s Home Water Protection Service gives homeowners peace of mind by helping to prevent and mitigate water leaks that can cause significant damage.”
The Home Water Protection Service provides 24/7 water flow monitoring across a home and property, using Wi-Fi connectivity and a sensor connected to the existing water meter.
“Flume is excited to partner with HSB to revolutionise how insurance clients mitigate water damage claims,” said Eric Adler, CEO and Co-Founder, Flume. “HSB is a pioneer in the ‘connect and protect’ movement within the insurance industry, making this collaboration an incredible opportunity. Non-weather related water damage is a costly challenge for both homeowners and insurers, with annual claims exceeding $8 billion. Through our Home Water Protection Service, powered by a single Flume smart water sensor, we aim to dramatically reduce these claims while also providing a smart water management solution to policyholders.”
The agreement with Flume broadens HSB’s capability to provide connected technology solutions for locations such as homes, businesses, schools, municipalities, offices, and other locations.
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