Horizon partners with smart-home specialist Hive to tackle water escape
High-value household insurer Horizon has partnered with smart-home provider Hive to tackle the biggest cause of UK household claims: escape of water.
According to the Association of British Insurers, escape of water accounted for 30 percent of all domestic household claims in 2018, up from 21 percent in 2014, causing approximately £1bn ($1.29) worth of damage.
To reduce frequency, severity and customer distress, Horizon policyholders will receive a Hive leak sensor, which clips to the water mains pipe. This alerts homeowners to a flow of water that may be a leak via the Hive app and offers troubleshooting steps, enabling them to locate the leak and minimise damage. Homeowners can also contact a locally-approved plumber direct from the app and arrange for inspection and repair.
Horizon founder and chairman Richard Pexton said: “Horizon’s partnership with Hive marks an important step forward for household insurance in changing normal practice from repair and replace to predict and prevent. Collaborations of this type, which blend insurers’ vast risk experience with ever-advancing technologies, create enormous potential for genuine innovation for the benefit of our customers. Horizon will further innovate in this area to develop experience-enhancing solutions that better meet our customers’ needs.”
Hive managing director Peter Simon added: “This partnership is a significant opportunity for thousands of home insurance customers to benefit from Hive’s smart home products and services that give a complete and expert solution to any issue that the Hive leak sensors identify in their homes, and give complete peace of mind. We’re delighted to be working with Horizon to maximise this offering for their existing and new clients.”
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