Posted 1 August 2016 9:30 AM by John Greaves
The Insurance Times Tech & Innovation Awards recognise the best applications of technology in UKGI. The awards are respected across the industry and honour the ways that insurance firms and their technology partners are meeting challenges in an increasingly digitalised landscape, where InsurTech is helping insurers to innovate and grow.
According to research from HomeServe Labs, over three quarters of people (76.9%) have experienced a leak at home before*. Water damage claims cost the UK £629 million in 2014 and rank second in home insurance claims. LeakBot aims to help address this issue by using intelligent algorithms to alert consumers of small leaks before they become big problems, all from one smart device.
Craig Foster, Managing Director of HomeServe Labs, comments: “Water damage in homes can potentially lead to expensive repairs, high insurance claims and a lot of stress. We spotted that this was an issue for both insurers and consumers, which is why we developed LeakBot to try and help people spot hidden leaks before they become big problems. Advances in technology are set to revolutionise the insurance industry, just like we’ve seen in other sectors like banking and transport.
“We’ve worked hard to develop a product which is genuinely useful and uses technology to help make people’s lives easier. It’s an honour that LeakBot has already been shortlisted for the Insurance Times Tech & Innovation Awards, and I look forward to continuing to develop the most useful solutions for the connected home.”
Launched in June 2016, LeakBot was developed by HomeServe Labs, part of HomeServe which is one of the UK’s leading home assistance providers. LeakBot is quick and easy to set up and can detect water leaks anywhere on the mains water supply – from dripping taps, to hidden leaks on pipes, to overflowing baths. If a leak is detected, LeakBot alerts consumers of the problem via a smartphone app, while also connecting them to HomeServe’s network of qualified engineers who they can be called out to fix the problem if needed. It runs off the SIGFOX Internet of Internet of Things network meaning that it doesn’t need to be connected to WiFi or mobile data, and its battery life can last up to five years. For more information on LeakBot and HomeServe Labs, visit https://www.leakbot.io/
The winners of the Tech & Innovation awards will be announced on 22 September 2016.
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Notes to editors:
*The nationwide poll of 2,000 UK adults was conducted by OnePoll. Fieldwork took place from 08.06.16 to 10.06.16. The survey was carried out online. The figures have been weighted and are representative of all adults (aged 18+). OnePoll are members of ESOMAR and employ members of the MRS.
About HomeServe Labs
HomeServe Labs is a smart home technology developer that designs products and services which make consumers’ lives easier. HomeServe Labs was born out of HomeServe, one of the UK’s leading home assistance provider, which has been delivering maintenance and repair services to over two million Customers across the UK for over 20 years.
HomeServe Labs combines HomeServe’s experience with its entrepreneurial and highly creative team to build original solutions for the connected home. The first product to come to market created by HomeServe Labs is LeakBot which uses intelligent technology to detect water leaks in the home from just one smart device, without the need for professional installation. LeakBot alerts consumers of small leaks before they become big problems, with the aim of helping to protect homes from the impact of water damage.
HomeServe Labs is an exciting new British business founded in 2013 with offices in both London and Walsall.
We are one of the UK’s leading home assistance providers. For more than 20 years we have made our Customers’ lives easier by delivering maintenance and repair services, including plumbing, drainage, electrics, heating and much more, though our own nationwide network of engineers and sub-contractors.
Over two million people in the UK have already placed their trust in us and turn to us when it comes to fixing, maintaining and looking after their home.
Follow HomeServe on Facebook and Twitter: @HomeServeUK
Read HomeServe’s online lifestyle magazine: ketchup.homeserve.com
For media enquiries contact Stella Pitt, HomeServe’s External Communications Manager, on 01922 651508. Alternatively email email@example.com