WaterLock, which was launched at last year’s European Utility Week in Amsterdam, is making its way to BIBA 2018.
Smarter home energy products developer geo has collaborated with property underwriting agency inet3 to bring its connected leak detection technology to the insurance industry through the two-day event in Manchester. What WaterLock does is automatically close the main water supply to minimise, if not avoid, damage when its sensors detect standing water, excess humidity, or freezing conditions.
In addition, the smart system allows activation even from outside the property as it connects wirelessly to the WaterLock hub and the cloud. It also works alongside a smartphone app and is capable of supplying data directly to insurers.
“Water damage is the largest single risk and cause of damage claims in the insurance industry,” noted Catherine Bell, chair at BIBA member inet3. “WaterLock promises to offer a revolutionary solution to this issue, and the opportunity to reduce the premiums for homes that have the system installed.”
Meanwhile BIBA corporate affairs head Andy Thornley described the technology as “a great example” of how innovation can reduce the significant impact of escape-of-water claims.
“Escape of water forms the largest component of household insurance claims, and it’s clear to see how innovations like WaterLock can help the insurance industry and its customers,” said Thornley. “That’s why we were delighted to feature it as a case study in the 2018 BIBA Manifesto.”
