Connected home insurance launches in the UK

Connected home insurance launches in the UK

Neos launches smart home insurance

The first ever insurance covering the connected home to launch in the UK is open for early testing and will be available to the general public in 2017.

Neos uses the latest smart tech, 24/7 monitoring and emergency assistance in a bid to create a new approach to insurance and let customers actively protect their home.

According to research from the Association of British Insurers (ABI), four of Britain’s 27 million homeowners make an insurance claim every minute.

Around 79 per cent of these claims are successful, but unfortunately, that doesn’t stop the damage from being done in the first place, replace treasured belongings or ensure someone doesn’t experience an emotional situation.

This can all be changed with Neo, which aims to protect homeowners by providing them with a technology-driven service. They’re given the latest smart home products vetted by Neo experts.

The bundle includes an HD Camera, motion sensors, smoke detectors, door contacts and smart moisture sensors that detect leaks early on. It’s all controlled through a single app, so consumers can check their home wherever they happen to be.

And when one of the sensors is triggered, they’re sent a push notification. If an incident were to take place, Neos has put an emergency assistance team in place. They’re available 24/7 and can help with everything.

Team members can inform you there’s a problem and get the right people in to fix it. Should the damage be too extensive and irresistible, customers are covered by Hiscox, one of the UK’s leading insurers.

In the event of an incident, Neos’ emergency assistance team are on hand 24/7 to take care of everything – from letting you know there’s a problem, to bringing in the right tradespeople to fix it.

The Neos app is already available on iOS, and an Android version will be launched at some point this year. Customers can get the package at the same price as a home insurance quote from Hiscox, which includes a £9.50 monthly service fee.

Fully secure

Neos is fully secure, too. It sports bank-grade encryption technology to protect device data from getting into the hands of cyber criminals, so no one but the homeowner can access their home and personal information.

Matt Poll, CEO and co-founder of Neos, said insurers shouldn’t just focus on paying customers.They should also ensure things don’t go wrong in the first place, and Neo is helping to achieve this.

“We believe insurance should do far more than just pay out for claims. It’s in the interests of both the consumer and the insurer to actively prevent things from going wrong, “ he said.

“That’s why we’re taking a fresh approach to insurance and giving consumers the option to actively protect the home, people and things they care about. We want to create the best insurance experience anywhere in the world.”

Krystian Zajac, chief technology officer and co-founder of Neos, said: “Whilst many people already enjoy the benefits of connected home products, we believe many more are confused by the variety of products on the market and the fact many devices can’t talk to each other. We’re solving this by handpicking products and ensuring they’re interoperable.”

Read More: Zurich Insurance partners with IoT start-up for smart home security