HSB partners with Flume to offer advanced water leak detection services, aiming to minimize the risk and damage caused by household water leaks.
HSB, a specialty insurer and a part of Munich Re, is renowned for its comprehensive coverage solutions including equipment breakdown insurance and a host of other services aimed at protecting personal and commercial assets. Flume, on the other hand, is a leading provider of smart home technology, specializing in water management systems that monitor and control water usage effectively.
The partnership was established to address the high costs of non-weather related water damage, which annually amount to billions of dollars in claims. By incorporating Flume’s innovative water leak detection technology into its offerings, HSB intends to enhance its protective services, offering greater value and security to its clients.
HSB excels in providing specialty insurance solutions, including a variety of technology-driven services to prevent equipment malfunction and associated losses. Their offerings are bolstered by a network of technology partnerships that support their mission of safeguarding clients’ properties and possessions through advanced, connected technologies.
Flume’s contribution to the partnership revolves around its Home Water Protection Service, which features a unique, easy-to-install sensor that connects to a home’s existing water meter. This sensor continuously monitors water flow, utilizing Wi-Fi for real-time data transmission and sophisticated algorithms to analyze usage patterns and detect anomalies indicative of leaks.
Flume’s also has a strategy to empower homeowners, allowing them to manage their water usage more efficiently and avoid costly damage through timely alerts and actionable insights provided via a mobile app.
HSB’s chief technology officer, John B. Riggs, “HSB is pleased to add Flume’s leak detection service to our network of proprietary technologies and technology partners. 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.”
Flume’s CEO and cofounder, Eric Adler said, “Flume is excited to partner with HSB to revolutionize how insurance clients mitigate water damage claims. 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.”
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