Majesco Top Banner
Follow Us
ITA MEMBERSHIP

DATA

DATA

SageSure Completes First U.S. Deployment of LeakBot Water Loss Mitigation Program

SageSure, a technology-driven managing general  underwriter specializing in catastrophe-challenged property markets, has completed the first deployment in the U.S. of a new technology designed to help  policyholders avoid water-related damages and reduce the likelihood of water-related claims. 

In partnership with LeakBot, a U.K. insurance technology company, SageSure has distributed  specialized leak detection sensors to home insurance policyholders throughout New Jersey. A  single, easy-to-install sensor monitors a home’s water usage and alerts participating SageSure  policyholders when it detects a potential leak or water irregularities. The LeakBot sensor utilizes  a specialized mobile application to provide water monitoring data and alerts in real-time. 

“We believe strongly that the role of home insurance should be not just to help homeowners  recover quickly from losses but also to proactively help them avoid damage and the associated  disruption to their lives,” said Paul VanderMarck, chief technology and innovation officer at  SageSure.“ “The turnkey solution we provide under this program is yet another example of our  investments in leveraging technology to modernize the property insurance business and to  expand the value we provide to our policyholders.” 

As part of the LeakBot program, in situations where a homeowner is not able to locate or resolve a leak detected by their LeakBot sensor, a licensed plumber with specialized tools and  training is dispatched at no cost to pinpoint and fix the leak. More than 100 SageSure  policyholders have already taken advantage of this unique aspect of the program, resulting in  the early resolution of a variety of plumbing and appliance failures that may otherwise have  resulted in significant damage. 

“Based on our track record with leading insurers in the U.K. and continental Europe, there is a  tremendous opportunity for insurers to leverage our proprietary technology in the U.S. market to  mitigate water losses,” said Craig Foster, LeakBot founder and managing director.  “SageSure is recognized as one of the most innovative and successful home insurance  specialists in the U.S. We couldn’t be more pleased to have them as our launch partner in the  U.S., and we look forward to expanding the program to more states together.”  

About SageSure 

SageSure is an innovation-focused insurance and technology company specializing in  catastrophe-challenged property markets. SageSure offers more than 40 competitively-priced  insurance products in 14 coastal states on behalf of its carrier partners and serves more than  400,000 policyholders. Since its founding in 2005, SageSure has been modernizing property  insurance through its market-leading online quoting and binding platform and its sophisticated  risk modeling and scoring technology. SageSure distributes its products through a growing network of insurance agents and brokers who provide insurance buyers with expert advice on  protecting their most important asset. For more information, visit SageSure.com. 

About LeakBot 

LeakBot is a smart water leak alarm, which spots hidden leaks before they become bigger  problems. The device aims to help protect homes from the impact of water damage - the second  biggest driver of home insurance claims. LeakBot uses its patented Thermi-Q technology to  detect water leaks in the home, without the need for professional installation. It connects to the  home wireless network and, if it detects a leak, notifies the customer via the LeakBot mobile app  and provides access to a team of expert LeakBot engineers to ‘find and fix’ the problem. Since launch, LeakBot has partnered with a number of Europe’s major home insurers to supply  LeakBot to some of their customers to help reduce the risk of claims caused by water damage  at home, including Hiscox, Direct Line Group, Eaton Gate, Covéa Insurance and  TopDanmark. In February 2020, Hiscox became the first UK insurer to offer a free LeakBot as  standard to all new and existing customers. For more information visit www.leakbot.io 

 


Featured articles

On archive MR

Sapiens MR

ELECTRONIC CHAT

The Email Chat is a regular feature of the ITA Pro magazine and website. We send a series of questions to an insurance IT leader in search of thought-provoking responses on important issues facing the insurance industry.

ITA LIVE 2020

ITA LIVE 2020 –SAVE THE DATE!
April 5th – 7th, 2020
The Diplomat Resort
Hollywood, FL
Become a member today to receive updates – www.itapro.org/MR

BLOGS AND COLUMNS

only online

Only Online Archive

ITA Pro Buyers' Guide

Vendor Views

Partner News