The proven IoT water leak solution that mitigates water damage and can deliver year 1 ROITalk to us
It’s widely known that escape of water claims are a big problem for insurers with $16bn a year spent on escape of water losses in US and UK alone. It’s less well known that over half of these claims are caused by mains water leaks and that the majority are small, hidden leaks that cause damage over a period of time. Escape of water seems like a great use case for IOT but so far nobody has really cracked the code on how to do it at scale… until now.
LeakBot is the world’s first end-to-end, IoT escape of water claims mitigation solution that already has a proven commercial model and business case for insurers.
LeakBot is the first end-to-end claims mitigation solution. The proposition for insurers consists of an easy-DIY-install consumer device and smartphone app, insurer dashboard and full Find & Fix field-service solution.
Detecting leaks is only part of the solution. Our network of specialist leak engineers all carry patented leak-location technology that guarantees the mains water supply is leak-free when they leave.
LeakBot has a validated commercial model that has been proven and replicated multiple times in market. The model is designed to deliver a Year 1 ROI of 15% and over 40% ROI over 5 years.
LeakBot was the proud winner of the DIAmond Award at this year's Digital Insurance Agenda in Amsterdam. Watch our keynote and see how LeakBot’s unique end-to-end solution is already working alongside leading insurers to mitigate water damage claims.
Don’t just take our word for it, here are just some of the partners we’re already working alongside.
Hiscox have a long history of home insurance expertise and are proud to now offer LeakBot to their eligible UK customers who hold buildings insurance policies. Proven in the field to prevent water damage resulting in claims, LeakBot has successfully provided additional customer value which has resulted in year 1 ROI.
Leakbot is provided within the Better and Best tiers of Neos smart home insurance. Helping customers monitor their home for hidden leaks and provide peace of mind to policyholders.
With high claims rates in Denmark, LeakBot is helping Topdanmark and its customers become pro-active when it comes to preventing leaks and water damage.
Didn't think the engineer's visit would be worthwhile, as we weren't aware of any problems - we were wrong !! The engineer not only tracked down and fixed three little leaks that could have led to trouble in the future, but also managed to find the internal stop-cock which no plumber had ever managed to find before. Overall, highly impressed.
Excellent service. Didn't know I had a leak but the leak bot alerted and an engineer was sent out. Found very small leak in the toilet cistern valve and the ball valve in the cold water tank. Replaced both valves to solve the small leaks, excellent.
We have had a leakbot fitted for a while now and recently I received a small leak alert. We called leakbot and the engineer who came was great. He took time to explain the process for detecting and locating the small leak. The whole process was very impressive and quite scientific. This is a great system to provide an early warning of problems. Would recommend.
With the cost of claims for escape of water rising, how can smart home tech make an impact and transform the insurance industry?
Topdanmark, the second-largest insurance company in Denmark, offers a wide range of policies to customers around the country including house insurance for many Danish homeowners.
After a career in the insurance industry that includes being CEO of two large insurance firms, Mark Wood is steering HomeServe's LeakBot into new markets.
Neos, the UK’s first smart home insurance provider, has partnered with HomeServe Labs, to offer the world’s leading smart water leak detection system LeakBot as part of its smart home insurance package.
HomeServe Labs spent two and a half years developing and refining LeakBot to make it ready for commercial release — and now it'll be heading to the US.