Digital insurance platform PolicyCastle will slash home insurance premiums for UK customers with qualifying smart home devices installed in their homes.
The broker, which currently offers online customers home insurance from
UK General, has partnered with smart home hub nCube in a deal described as the first of its kind. The partnership will be launched later this year, with the nCube platform allowing users to control and monitor their homes to identify insurance cost savings.
Discounts will be available for both new and existing policyholders who have installed qualifying surveillance or leak detecting smart devices from the likes of Hive, Nest, and Samsung. Existing customers who install qualifying devices during the life of their policy can make a mid-term adjustment.
In addition, PolicyCastle will create a database – supposedly the first – relating different smart home devices, perils, and claims. The broker will also work with insurance companies to provide tailored policies based on the data.
“UK General is changing the world of personal lines insurance, so we are pleased to be working with PolicyCastle as they innovate in the specialist home insurance market,” said UK General chief executive Karen Beales.
Meanwhile, PolicyCastle will also start offering home insurance from Prestige Underwriting from the end of October.
Referring to PolicyCastle, Prestige Underwriting property underwriting manager Chris Duck commented: “Their forward-thinking approach provides huge benefit to both customers and insurers alike. The positive way in which they are embracing smart home technology represents an exciting opportunity for us.”
PolicyCastle founder and chief executive Edmund Dilger believes smart home devices have the opportunity to revolutionise the way homes are maintained and protected. “We are excited to be the first to offer this innovative discount to customers,” he added.
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