Water damage is the second most common insurance property claim in the US after hail and wind damage and billions of dollars are spent in claims and repairing damages annually.
GUARD aims to reduce these costs for customers and the company through the utilization of unique end-to-end water leak damage prevention systems. Berkshire Hathaway GUARD and Triple+ have launched a pilot project that utilizes Triple+ devices powered with its cloud monitoring service.
According to Berkshire Hathaway GUARD CEO Sy Foguel, “We believe our ultimate goal is always to help our customers avoid damage to their property. We have entered into this new IoT (Internet of Things) technology pilot project in the hope of finding an important new way in which we might realize this objective for our customers.
In the pilot project GUARD will offer new and existing customers Triple+ product lines at discounted prices.
Included in the equipment offered are water flow sensors that shut off the main water supply depending on the problem. The Triple+ CLM™ All-In-One automatically shuts off the main water supply when abnormal water usage is detected and the Triple+ CLM™ that automatically shuts off the main water supply upon detection of a flood. This system also includes remote management of the equipment via a smartphone app for event handling and water system management. The easy to use app will generate alerts for abnormal water use, device’s low battery levels, freezing temperature and an indication of whether a valve is open or shut. Controlling equipment from remote locations is particularly useful for property owners who are away on vacation or for property management companies that oversee multiple units, some of which may be vacant.
All Triple+ devices are wireless and installed in minutes with no need for any wiring.
“Our proprietary and unique technology allows for a groundbreaking opportunity for the insurance industry to drastically cut the number of claims that result from water damage. Customers will now have full control over their plumbing systems and will no longer be taken by surprise when pipes leak or burst. We commend GUARD on their vision and look forward to the positive results from our collaboration,” notes Michael Isakov, CEO of Triple+.
Source: Company Press Release