Direct Line Group has signed a partnership with insurtech LeakBot. It will offer leak detection technology for HNW home insurance customers over the next twelve months.
This will enable Direct Line customers to monitor escape of water of prevent water damage in their homes.
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Direct Line is set to offer LeakBot detection technology to Select Premier customers at the point of acquisition and renewal. The LeakBot device will be free and includes free visits from engineers in the case of alerts.
In addition, LeakBot is an end-to-end claims mitigation system designed to tackle the escape of water. The partnership is set to continue the firm’s expansion across the UK and global home insurance markets.
Craig Foster, CEO, LeakBot, said: “We are really pleased to see LeakBot being rolled out across another high net worth home insurance book. LeakBot is the only water damage claims prevention system anywhere in the world that has a proven product and sustainable return on investment for insurers. With so many people spending more time at home in recent months, it’s easy to see why householders are becoming increasingly protective of their properties. Homes have become our offices, our gyms, our entertaining and leisure space. LeakBot’s smart leak detection technology is a crucial tool for home insurers looking to give their customers added peace of mind at this uncertain time. We look forward to announcing more partnerships in the near future.”
Nick Brabham, head of Select Premier insurance at Direct Line Group, added: “Over the years, we’ve seen how costly water damage claims that arise from leaks in the properties of our high and mid net worth customers can be. Larger and more expensive homes often have high-value contents that are at risk of damage from water leaks. They will also tend to have a greater number of plumbed-in features – sinks, bathrooms and additional elements – which is where the majority of invisible destructive leaks occur. The opportunity that LeakBot offers not only to limit the disruption that escape of water causes to our customers, but also to mitigate our own underwriting costs, will provide significant and lasting value to the business going forward.”
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By GlobalDataThis follows a similar deal in February 2020 with Bermuda-based insurer Hiscox.
