Global insurer RSA is launching a connected home insurance pilot that aims to harness the potential of smart home technology to improve safety and reduce loss.
The company announced yesterday that it is partnering with Hood Group to come up with a program designed to “evaluate escape of water sensor technology and inform the development of new home insurance propositions.”.
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Utilizing a variety of connected home technologies, the pilot will run over the next two months. Smart home provider Lightwave was tapped to support this initiative.
“There is huge potential for insurers to help make our customers’ homes safer and easier to monitor through connected devices,” said RSA global connected insurance director Kenny Leitch.
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“We want to help them prevent problem 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.”
According to a release, the test is being conducted in domestic properties that run various household scenarios. Simulated water leaks will also be part of the test. The pilot will determine the different applications of connected home technology, prove that the sensors will work without issue, and showcase that the systems can be shut down reliably without interfering with homeowners.
“We’re committed to being at the forefront of using the latest technologies and working with partners to develop new types of insurance cover that will add value to our customers,” said RSA global partnering director Paul Middle. “Working with Hood Group, we can effectively test new concepts to ultimately deliver insurance products that truly serve today’s customers.”
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