Counting the Savings
24/7 leak detection and repair services that protects homes from costly water damage. Independent research by Ondo InsurTech in partnership with Consumer Intelligence reveals groundbreaking evidence of actual loss reduction from IoT leak detection technology.
70
Claims Reduction Cost
43,000
Households Studied
5
Global Markets
Research Highlights
Five years after the first device was installed, Consumer Intelligence conducted independent research to quantify the savings insurers have made from proactively detecting and mending small leaks.
70%
Reduction in water damage claims costs
UK market showing the most developed model results
43,000
Households studied
Across Europe and USA providing comprehensive data
56,000
Device-years of data
Creating the biggest IoT leak mitigation study to date
5
Countries
Cross-country validation of LeakBot effectiveness
39%
Reduction in claim frequency
Fewer water damage claims occurring overall
51%
Reduction in claim severity
When claims do occur, they’re significantly smaller
10,843
Litres saved per year
Average water wastage prevented per property with leak
32%
Had water damage claims
Proportion of homeowners before LeakBot installation
The research results show that across the 3 countries in the study, the average reduction in water damage claims spending was 44%, with the UK showing a remarkable 70% reduction where plumbing services are fully integrated.
$146 savings per policy per year in the USA market alone – far exceeding the total deployment cost of the LeakBot solution.
How LeakBot Works
LeakBot is mailed to customers and can be self-installed with no tools or plumbing experience required. The device is simply clipped onto the mains water pipe, where the water enters the property, and an app downloaded to connect the device to home WiFi.
LeakBot’s patented Thermi-Q technology works to accurately measure both the air and water temperatures in a customer’s home. A leak will continually draw colder water from outside, creating a consistent drop in temperature.
LeakBot can sense the prolonged and consistent drop in temperature and alerts the customer to the problem on an app. A customer is sent an alert when LeakBot detects a leak as small as one teaspoon per minute.
Complete Service Integration
Customers can book a plumber visit through the app to find and fix the leak, all free of charge, before it causes serious damage. This end-to-end service is what makes LeakBot uniquely effective.
How LeakBot Works
LeakBot is mailed to customers and can be self-installed with no tools or plumbing experience required. The device is simply clipped onto the mains water pipe, where the water enters the property, and an app downloaded to connect the device to home WiFi.
LeakBot is mailed to customers and can be self-installed with no tools or plumbing experience required. The device is simply clipped onto the mains water pipe, where the water enters the property, and an app downloaded to connect the device to home WiFi.
LeakBot can sense the prolonged and consistent drop in temperature and alerts the customer to the problem on an app. A customer is sent an alert when LeakBot detects a leak as small as one teaspoon per minute.
Complete Service Integration
Customers can book a plumber visit through the app to find and fix the leak, all free of charge, before it causes serious damage. This end-to-end service is what makes LeakBot uniquely effective.
Research Methodology
Ondo partnered with Consumer Intelligence to quantify the impact of the LeakBot system on homeowners through rigorous, independent research.
Biggest IoT Study to Date
This makes the research the biggest to date on any Internet of Things (IoT) leak mitigation technology, providing unprecedented insight into real-world effectiveness.
The Results
Five years after the first device was installed, Consumer Intelligence conducted independent research to quantify the savings insurers have made from proactively detecting and mending small leaks.
The World Before LeakBot
of homeowners had claimed for water damage in the five years prior to LeakBot installation
Common Causes of Water Damage Claims:
Leak from Mains Water
Water Tank
Heating System
Drainage
Hot Water Pipes
LeakBot Savings
70% Claims Cost Reduction
Reduction in water damage claims costs in the UK market. With a 39% reduction in frequency and 50% reduction in severity
+36 NPS Customer Satisfaction
Net Promoter Score across all 3 countries. 55% would recommend LeakBot to friends or family
5 Months Investment Payback
ROI payback period, not years. Far exceeding expectations for technological solutions
35% Customer Loyalty
More likely to stay with their current insurer. 39% for those who had received a LeakBot alert
Water Conservation Impact
Beyond claims reduction, LeakBot delivers significant environmental benefits through water conservation.
1.24
Per Hour
30
Per Day
208
Per Week
832
Per Month
10,834
Per Year
Average water wastage prevented per property with an active leak alert
Real Life Customer Story
Five years after the first device was installed, Consumer Intelligence conducted independent research to quantify the savings insurers have made from proactively detecting and mending small leaks.
Michael Stanley
LeakBot User
“I was sceptical. I didn’t see any water damage and I couldn’t hear any dripping. But better safe than sorry and I had nothing to lose, so I booked a free plumber visit to take a look.”
“When the engineer arrived he pressure tested the system which confirmed water was escaping from somewhere. He eventually traced this to an upstairs cistern.”
“It was a tiny leak. I was amazed to learn it wasn’t a false alarm. The plumber replaced a faulty valve there and then, and the leak stopped.”
“It was a great service and not something I’ve had from insurance companies before. Our loft flooded a couple of years ago and the rigmarole of having the ceiling replaced and repainted is not something I’m keen to repeat. Knowing that LeakBot works so well is a big reassurance.”
The LeakBot Experience
Claim Prevented
By detecting and fixing this small leak early, LeakBot prevented what could have become a major water damage claim, similar to Michael’s previous loft flood experience.
Conclusion
Wide ranging and robust research across multiple countries shows that LeakBot technology is consistent in reducing the frequency, severity and overall cost of water damage claims.
This wide ranging and robust research across multiple countries shows that LeakBot technology is consistent in reducing the frequency, severity and overall cost of water damage claims.
It does so to such an extent that insurer investment in providing simple LeakBot devices to customers pays back in reduced claims costs within just five months – not to mention the data and analysis LeakBot provides insurers to inform future risk and underwriting models.
The support provided by LeakBot further builds loyalty towards the insurer that provided it and the rising NPS scores amongst those who have received an alert indicate this will only rise further over time.
Any carrier that is serious about reducing its household claims ratio and maintaining competitive pricing to attract and retain customers should consider IoT devices such as LeakBot as a natural next step towards risk mitigation and water conservation.
Key Takeaways
Scalable Solution
Mass market scalable model with possible savings of $11 billion in territories LeakBot already operates in
Risk Mitigation
Natural next step towards risk mitigation for carriers serious about reducing household claims ratio
Environmental Impact
Additional environmental benefit due to significant water leakage prevention
Global Potential
Transformational technology with global potential to move the dial on water waste and damage claims
Get the Full Report
Download the complete whitepaper for detailed methodology, additional insights, and comprehensive data analysis.
