Technology for Claims Prevention

Many of our insurers have started partnering with technology companies to help prevent claims or at minimum lessen the severity of claims. Have you reviewed with your carrier what tools they have available to help minimize risk? Below is a quick sampling of what our insurance companies have to offer:

Telemetrics

For our auto customers, one of the biggest technology pushes has been to help drivers identify unsafe driving habits. Many of our insurance companies offer a telemetrics program where the insured can sign up to participate. Generally, by using an app, driving habits are recorded for a period of time and then an associated discount is awarded to the insured for favorable driving experience. In our agency, the following carriers, have a telemetric option: Nationwide, Ohio Mutual, Progressive, Safeco.

Water Sensors/ Automatic Water Shutoff Devices

Anyone who has been through a water loss can tell you what a hassle cleanup and repairs can be. Homeowners have two major options to help mitigate losses from water. Water sensors can be placed near plumbing fixtures, appliances and in locations prone to flood such as basements. These devices can alert a homeowner via either an audible alarm, or some have mobile notification alerts. The goal is to detect the water sooner and mitigate the loss. The second option is an automatic water shutoff valve. These devices have sensors to detect the water usage in the home and will automatically shut off the water should a leak be detected. Products recommended by our insurers: Leakbot | EcoNet Bulldog | Flo by Moen

Home Fire Prevention

We have all heard of home fire prevention tools such as smoke detectors and fire extinguishers. They are perhaps two of the most common tools in homes today. There are two new products that are swooping in to save the day. The first is a monitoring system called Ting. Ting helps detects electrical hazards in homes to prevent potential fires. The other item used to assist with fire prevention is automatic fire suppressors. There are a multitude of these on the market, but one of the ones we have seen in action is the Stovetop Firestop Rangehood unit.

Central Alarm Systems

Home security systems have been around for quite some time, but as the availability has increased, many insurance companies are providing benefits for these alarm systems. Many carriers offer a small discount for the central alarm systems to be in a home but note that the system must automatically call for assistance if it is triggered. Ohio Mutual Insurance Group has invested in these systems more than any other carrier in our line up by offering homeowners a six piece SimpliSafe security system. Ohio Mutual clients should talk with their agent for details.

Risk Assessments

This last section is nothing new to insurance industry. And if we’re being honest, most insureds do NOT like to hear that they have been chosen for a risk assessment or an inspection. However, a well-done risk assessment can be a wonderful tool for the insured. Risk assessments were designed to get eyes on the property and point out any areas that may have increased risk so that the insured can evaluate and potentially minimize the risk.