Nationwide launches smart home solution to add extra layer of protection to homes with connected devices
Fire and water damage account for over half of home insurance losses, average claim exceeds $10,000
Columbus, OH - Leaving home does not mean leaving your worries behind. For many, pulling out of the driveway can bring on anxiousness about the stove being left on or forgetting to close the garage door. Most people don’t even think about risks associated with leaky or frozen water pipes that could cause serious water or flood damage. Nationwide’s new smart home program can help alert customers about these problems from wherever they are, before they become a nightmare.
Nationwide is partnering with Notion and their smart home monitoring technology to provide this added layer of protection. The easy-to-use Notion smart home monitoring system packs multiple capabilities into each sensor, which monitors the home for opening doors and windows, the sound of smoke/CO2 alarms and water leaks, all from a personal device.
Leading causes of insurance claims include water damage (31.4%), fire and lightning damage (26.8%) and theft (2.1%)1. The average claim severity is costly, with fire and lightning surpassing $68,000, water damage exceeding $10,000, and theft at more than $4,0002.
“Smart home solutions will help our policyholders have more control in protecting their home,” said Teresa Scharn, Nationwide AVP Product Development. “From water leaks to sounding alarms, the homeowner can be notified if something happens, even when they are not there. Whether they’re away for the day, on vacation, or gone for the season, they’ll know what’s going on at home.”
If customers opt into the program, they can purchase the Notion Wi-Fi enabled smart home kit at a discounted rate and save on their homeowners insurance policy.
“We’re thrilled to be selected as the IoT partner for Nationwide to launch their smart home technology program to its customers,” said Brett Jurgens, CEO and Co-Founder of Notion. “As the insurance industry is quickly moving towards an IoT-oriented, lower-risk future, an insurer’s ability to offer smart home connectivity with policy incentives will become one of its biggest advantages.”
Smart home is available in Alabama, Arizona and Illinois, with additional states to be added in the months ahead. Nationwide Private Client members across the country can also access smart home products where Nationwide Private Client is available.
Smart home monitoring benefits:
● Peace of mind with the additional protection, even when they’re not home
● Early detection to mitigate losses
● Discount off Notion smart home Starter Kits
Notion is a smart security system that empowers home and property owners to be proactive in protecting their people, spaces, and most valued possessions. Powered by a multifunctional sensor and app, Notion is committed to increasing safety and reducing risk for a property with the ultimate goal of becoming a requirement for insurance. Notion partners with leading insurance and service providers to help drive customer adoption, expand education, increase engagement, reduce claims, and customize products and pricing. For more information, visit getnotion.com.
Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the United States. Nationwide is rated A+ by both A.M. Best and Standard & Poor’s. An industry leader in driving customer-focused innovation, Nationwide provides a full range of insurance and financial services products including auto, business, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; excess & surplus, specialty and surety; pet, motorcycle and boat insurance. For more information, visit www.nationwide.com. Follow us on Facebook and Twitter.