When it comes to homeowner’s insurance claims, Roel Peeters, co-founder and CEO of Roost, says telematics are a win-win for both insurance companies and brokers. The California-based technology company’s home telematics solutions, such as the Roost Smart Battery (a connected smoke alarm) and the Roost Smart Water Leak and Freeze Detector, are changing the way insurers engage with policyholders and mitigate fire and water claims.
“Home telematics solutions are not going to prevent an incident like a fire or a water leak from happening,” Peeters says, “but they can certainly help to mitigate a situation and reduce it from something that might result in total loss – which is devastating for homeowners and very expensive for insurers – to a much smaller and more manageable incident.”
He points out that Roost’s connected sensor devices also help agents and brokers nurture a digital relationship with clients.
“What’s the rationale behind a consumer downloading an insurance mobile app? They might be able to access their insurance information or pay a bill, but that’s not very compelling,” he says. “Insurers and brokers have to offer more from that digital relationship. They need to ask: What justifies us, as an insurance company or brokerage, to claim some real estate on the consumer’s phone?
“This is where home telematics solutions and connective devices come into play,” Peeters continues. “For example, our Roost Smart Battery and Roost Smart Water Leak products help customers take care of their homes and loved ones and provide peace of mind. It’s in everyone’s best interests to prevent issues in the home that could result in loss, and a trusting digital relationship is a great starting point for that.
”Insurers and brokers are starting to see the benefits of tightening their relationship with consumers by enriching their relationships with digital features, Peeters says.
“I think the concept of having sensors all around your home is going to become ubiquitous over the next five to 10 years,” he says.
“Connective home sensor devices will help your clients be proactive in the management of their greatest asset – their homes.”
