Finally! We Now Have Evidence That Smart Home Technologies Impact Loss Performance
IoT Water Loss Study
Industry-wide, carriers have high hopes for smart home technology. They anticipate that the data generated by IoT devices will lead to a more accurate and comprehensive view of customer risk, reduced costs and improved loss prevention. And yet, so far, they have not seen much evidence to support these expectations. With help from Flo by Moen, we compared the claims trends of U.S. homes with a Flo water leak detection and management device to similar homes without a Flo device. What we found was compelling.
Did you know?
Water leak detection devices can help reduce water leak claims frequency by as much as 96% and severity by as much as 72%.
Download our white paper to get more details and insights about how smart home technology can be a valuable component in your loss prevention strategy, bringing new benefits to you and your customers.
Discover leading economic home insurance trends by named perils, severity, frequency and location at LexisNexis Risk Solutions. Download the full report to compare carrier claims against industry benchmarks.