HomeOK's multifunctional sensors help to keep homes and families safe from potential dangers such as water damage, fires and burglary. Homeowners receive smartphone notifications if any trigger is caused such as a door opening, an existing fire alarm sounding or water is detected in their home by putting sensors near possible accident sites such as toilets or kitchens, allowing them to fix the issue before it becomes an expensive headache and potential insurance claim.
Redefining insurance: As IoT technology enhances monitoring within the home, it also enables insurance companies more effectively understand their customers and assess risks, enabling them to calculate premiums based on how probable a customer is to file a claim. A win-win for responsible homeowners and the insurer.
Besides from keeping homes safer, insurance companies obtain valuable real-time data that they may leverage to reduce claims and losses in the future, which can be geographical or customer specific. This is something our partners can receive, aggregated data and customer enabled data.
Trial period: In our soft launch trial phase for HomeOK, it showed significant benefits for users. We had a just over 70% install rate, with many of those people protectively reacting to alerts, and acting upon them. This prevented small problems around the home from becoming bigger headaches, not having to claim on their insurance, and causing further disturbance to their everyday lives by having to have repairs carried out.
