Nationwide consumers can get a 15% discount on Phyn’s suite of products to enhance home protection plans. Credit: JHVEPhoto/Shutterstock.

Insurance company Nationwide has teamed up with water solutions provider Phyn to provide leak detection solutions to policyholders with high-value homes.  

As part of this initiative, Nationwide consumers can get a 15% discount on Phyn’s suite of products to enhance home protection plans and defence against potential water damage.  

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According to a Phyn study, homes equipped with its technology are 99% less likely to incur non-weather-related water leak claims. This study analysed data from 13,500 homes over three years. 

Phyn’s technology uses AI to monitor water pressure, checking for fluctuations 240 times every second.  

This allows the system to identify and categorise each water fixture within a home for an immediate detection and alert system provided by Phyn, allowing homeowners to control water damage. 

Nationwide personal lines underwriting strategy associate vice-president Mark Teets said: “Water damage is one of the most common and costly issues homeowners face. With Phyn, we are providing our customers with access to cutting-edge technology to help detect and prevent leaks, reinforcing our commitment to innovative solutions that safeguard their homes and properties.” 

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Phyn CEO Ryan Kim stated: “Phyn’s leak detection solutions offer homeowners 24/7 protection and critical insights into their plumbing system. Undetected leaks can lead to health risks, home displacement, financial losses and damage to irreplaceable personal belongings. Our partnership with Nationwide empowers policyholders with the tools to proactively manage these risks, helping them avoid costly water damage and make smarter decisions about their water use.” 

Last month, Nationwide expanded its use of Ondo Insurtech’s LeakBot technology to 16 US states.  

This service will be available to both new and existing Nationwide customers.