In the US, Willis Towers Watson has entered into an agreement with Roost, a developer of smart home technology, to establish a home telematics consortium consisting of five to ten insurance carriers.
The consortium will gather data to measure the effectiveness of home telematics devices on mitigating insurance losses resulting from fire and water damage, as well as in increasing customer engagement. The carriers involved in the project will offer their policyholders a kit made up of the Roost smart battery for smoke alarms and Roost smart water leak detectors that deliver notifications to customers’ smartphones when a suspected water leak or fire event occurs. Willis Towers Watson will then analyse the consortium’s policy and claims data, appended with Roost’s telematics data, and will communicate back the results to the consortium members.
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