March 10, 2017 by Staff
U.K.-based RSA Group has embarked on a pilot project for connected “smart” homes that will evaluate the sensor technology used to detect the escape of water and inform the development of new home insurance products.
The project is being conducted with Hood Group, also in the U.K., which is a data and technology specialist in the insurance industry, and Lightwave, a smart home provider.
The project involves conducting various household scenarios in which the escape of water will be simulated in order to determine the different uses of the sensor technology, prove that sensors will report reliably and that systems can be shut down reliably and practically without interfering with the homeowners’ lifestyles.
“There is huge potential for insurers to help make our customers’ homes safer and easier to monitor through connected devices,” said Kenny Leitch, global connected insurance director at RSA. “We want to help them prevent problems from happening and where better to start than seeing how we can minimize water damage. It’s a major area of claims and generally a hugely distressing event for any homeowner to deal with.”
“We’re delighted to partner with Hood Group and use this pilot to prove the effectiveness of this technology, understand the costs and ensure we can develop a practical and affordable solution for our customers,” he added.
This story was originally published by Canadian Insurance Top Broker.