Connected home start-up to use Homeserve’s leak detection tech

Aviva-backed connected home insurtech Neos is to partner with LeakBot provider Homeserve.

From this summer, LeakBot will become part of the Neos app. This mean that Neos’ customers can be alerted at the first sign of a potential water leak.

Neos chief executive and co-founder Matt Poll said: “Escape of water can be a devastating incident for any homeowner, but smart technology is helping people catch issues early before they cause major damage.

“Partnering with HomeServe Labs is a key part of our ambition to deliver the next generation of smart insurance to customers and with additions like LeakBot in our offering, we’ll be able to help our customers detect even more incidents before they become disasters”.

Neos is the fifth insurance provider to offer LeakBot, following in the footsteps of Aviva, Covéa, Legal & General and RSA.

Escape of water is proving to be a big problem within home insurance.

In one instance, Legal & General’s general insurance profit took a 29% hit in 2017.

In the first nine months of 2017, escape of water claims cost £483m. This is 24% more than over the same period in 2014.