comparethemarket.com has launched an exclusive partnership with digital insurance provider iGO4 and LeakBot, the smart water leak detection system.
comparethemarket.com customers will benefit from a lower priced iGO4 home insurance policy and will receive a free LeakBot smart water leak alarm. By installing the LeakBot device, consumers will be able to monitor and prove that their home is leak free. The partnership also offers iGO4 customers a complete repair solution from LeakBot, with a ‘find and fix’ plumbing service.
Chris King, Head of Home Insurance at comparethemarket.com, commented:
“We are delighted to partner with iGO4 and LeakBot to offer our customers this innovative solution to water escaping. Around 43% of UK homes have experienced a water leak, many of which go undetected. Smart devices such as these put the power back in the hands of the consumer, allowing them to minimise the risk of damage to their home. Consumers should be encouraged to take advantage of these smart technologies to not only protect their homes, but their finances too.”
Matt Munro, iGO4 Chief Executive said:
“In partnership with LeakBot we are delighted to be able to launch this new connected home offer on comparethemarket.com. There’s potential to create a much more personalised solution within home insurance, based on real-time monitoring. We see this as a unique opportunity to reduce claims, lower costs and deliver a win-win solution for everyone.”
Craig Foster, CEO, LeakBot said: “The insurance industry has traditionally operated in line with a reactive model; responding to events after they have happened and basing premiums on the average homeowner. But with smart home telematics and devices like LeakBot, insurers can gain granular insights into the level of risk on an individual basis so that they can better assess prices and policies. We’re excited to be working with iGO4 and comparethemarket.com to provide their customers a low-cost, non-invasive solution for monitoring, detecting and resolving escape of water issues. This could ultimately lead to better deals and peace of mind for the consumer.”