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Topdanmark partners with LeakBot

In View Summary

Topdanmark, the second-largest insurance company in Denmark, offers a wide range of policies to customers around the country including house insurance for many Danish homeowners. Topdanmark and HomeServe Labs have entered into a partnership to roll out the smart water leak detector LeakBot to its policyholders in Denmark. This is built on the success that LeakBot has seen in the UK following partnerships with major home insurers including Aviva, Neos, RSA, Legal & General and Covéa Insurance.

LeakBot is an end-to-end claims mitigation system, which is designed to tackle the problem of water leakage damage claims in the houses

The partnership will provide Topdanmark with a national solution to leak detection and prevention in the home, which is the second biggest driver of home insurance claims and cost to the global insurance industry. In Denmark and for Topdanmark specifically, water leak is the main driver of home insurance claims.

LeakBot is an end-to-end claims mitigation system, which is designed to tackle the problem of water leakage damage claims in the houses. This also helps customers prevent water wastage and potential damage to their properties.  The features include:

  1. 24/7 home monitoring for hidden leaks and bursts
  2. Instant alerts to smartphones
  3. Expert solutions such as plumbers

LeakBot works with the help on patented Thermi-Q technology which accurately measures both the air and water temperatures in your home. If there is a leak it will continually draw colder water from outside into your home, creating a consistent drop in temperature. LeakBot can sense the prolonged and consistent drop in temperature and alerts the customers the problem.

The LeakBot app allows users to receive alerts and make it easy for them to keep a continuous check on their homes

The partnership also helps customers by including a ‘find and fix’ plumbing service. If a leak is detected by LeakBot, a plumbing service subsidised by Topdanmark can be booked through iHomes Nordic to resolve the problem. Topdanmark estimates it will be able to deliver 200,000 LeakBot devices to its customers to enable them to react quickly to damaged pipes.

The partnership comes on the back of its new expansion plan outside the UK.

Reported Benefits

Benefits to Customers:

  • Enhanced product and services
  • Improved customer experience
  • Faster claims and risk mitigation
  • Improved pricing
  • Innovation

Benefit to the Insurer:

  • Improved products and services
  • Enhanced customer engagement
  • Improved product pricing

The Digital Insurer's View

Day after day the importance of data is increasing. This is evident with the Topdanmark and Leakbots partnership with one working hand-in-hand with the other.

For homeowners, this is a blessing because of the proactiveness the initiative offers with 24/7 surveillance and claims on the go.  This is because water loss claims can be very difficult to manage in everyday life. Such technologies can help to prevent and avoid such losses in the long run and protect homes from costly damages.

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