HSB, part of Munich Re, has collaborated with Flume to provide its home water leak detection solution to insurance clients.
The company will refer the solution to insurance carriers and partners that can distribute the offering to homeowners.
Go deeper with GlobalData
Flume’s Home Water Protection Service supports 24/7 water flow monitoring with Wi-Fi connectivity along with a single sensor connected to the water meter.
It offers insights on usage and sends leak alerts via a mobile app using algorithms.
HSB chief technology officer and applied technology solutions senior vice-president John B. Riggs said: “The addition of Flume’s water flow sensor system supports HSB’s mission to help customers use the latest internet-connected technologies to protect their property and possessions. Flume’s Home Water Protection Service gives homeowners peace of mind by helping to prevent and mitigate water leaks that can cause significant damage.”
Flume CEO and cofounder Eric Adler said: “Flume is excited to partner with HSB to revolutionise how insurance clients mitigate water damage claims. HSB is a pioneer in the ‘connect and protect’ movement within the insurance industry, making this collaboration an incredible opportunity.
“Through our Home Water Protection Service, powered by a single Flume smart water sensor, we aim to dramatically reduce these claims while also providing a smart water management solution to policyholders.”
HSB offerings includes equipment breakdown insurance, sensor-based Internet of Things (IoT) solutions and services backed by AI.
In March 2024, the company launched Cyber for Auto, a cyber insurance solution designed to protect personal data in connected vehicles.
