Digital insurance provider, Igo4 has launched a connected home insurance product, in partnership with smart water leak detection system, LeakBot and price comparison website, Compare the Market.

Users of the PCW will benefit from a lower-priced home insurance policy from the broker and will receive a free smart water leak alarm. The partnership also offers Igo4 customers a repair solution from LeakBot, with a ‘find and fix’ plumbing service.

Chief executive of Igo4, Matt Munro said: “There’s potential to create a much more personalised solution within home insurance, based on real-time monitoring.

“We see this as a unique opportunity to reduce claims, lower costs and deliver a win-win solution for everyone,” he added.

Chief executive of LeakBot, Craig Foster said: “The insurance industry has traditionally operated in line with a reactive model; responding to events after they have happened and basing premiums on the average homeowner.

“But with smart home telematics and devices like LeakBot, insurers can gain granular insights into the level of risk on an individual basis so that they can better assess prices and policies,” he added.

Head of home insurance at Compare the Market, Chris King said he was delighted to partner with the broker and the smart leak alarm provider on this solution to water leaks.

“Smart devices such as these put the power back in the hands of the consumer, allowing them to minimise the risk of damage to their home,” he added. “Consumers should be encouraged to take advantage of these smart technologies to not only protect their homes, but their finances too.”

Founded in 2007, Igo4 is headquartered in Peterborough. The firm offers motor and van insurance alongside home insurance products.

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