The awards, which take place in London on September 4th, celebrate those who have fully embraced technology in order to meet the needs of the client. They pay close attention to brokers who have taken an innovative approach to insurance protection.
Waterlock has been developed by geo to address the growing problem of escape of water claims for insurers. This is a challenge which the ABI has already said is the number one priority for the domestic property insurance market, which pays out over £2.5 million in EOW claims every day. Waterlock has been brought to the UK broker market through a strategic partnership between geo and Magenta Insurance, part of the inet3 group. Together they have combined their respective expertise to create an insurance solution focused on the residential property market for delivery by the broking community.
Waterlock is a connected leak detection and water shut-off solution. It incorporates a remote controllable stopcock as well as wireless sensors which shut off the mains water supply when they detect a leak. It will then alert the homeowner via email or on the Waterlock app for use on a smartphone. In addition, Waterlock will alert homeowners if there is a risk of escape of water, such as if freezing weather conditions are likely to cause pipes to burst.
In April 2019 BIBA announced that Magenta Insurance was its official scheme provider for ‘Residential Escape of Water and Distressed Risk’. The scheme provides brokers with a physical solution for their customers to help combat EOW in the property, whilst simultaneously offering discounted property insurance policies when Waterlock has been installed.
“Waterlock is a sophisticated but user-friendly product. Wrapped into an end-to-end offering that delivers professional installation and ongoing support, together with a discounted premium for clients, it is the perfect EOW solution for brokers. We are very excited to have reached the finalist stage in these awards, which celebrate innovation and forward-thinking and we look forward to the ceremony in September.” said Patrick Caiger-Smith, CEO at geo.
Cookie | Duration | Description |
---|---|---|
_GRECAPTCHA | 5 months 27 days | This cookie is set by the Google recaptcha service to identify bots to protect the website against malicious spam attacks. |
cookielawinfo-checkbox-advertisement | 1 year | Set by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Advertisement" category . |
cookielawinfo-checkbox-analytics | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics". |
cookielawinfo-checkbox-functional | 11 months | The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". |
cookielawinfo-checkbox-necessary | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary". |
cookielawinfo-checkbox-others | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. |
cookielawinfo-checkbox-performance | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance". |
PHPSESSID | session | This cookie is native to PHP applications. The cookie is used to store and identify a users' unique session ID for the purpose of managing user session on the website. The cookie is a session cookies and is deleted when all the browser windows are closed. |
viewed_cookie_policy | 11 months | The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data. |
Cookie | Duration | Description |
---|---|---|
__utma | 2 years | This cookie is set by Google Analytics and is used to distinguish users and sessions. The cookie is created when the JavaScript library executes and there are no existing __utma cookies. The cookie is updated every time data is sent to Google Analytics. |
__utmb | 30 minutes | Google Analytics sets this cookie, to determine new sessions/visits. __utmb cookie is created when the JavaScript library executes and there are no existing __utma cookies. It is updated every time data is sent to Google Analytics. |
__utmc | session | The cookie is set by Google Analytics and is deleted when the user closes the browser. It is used to enable interoperability with urchin.js, which is an older version of Google Analytics and is used in conjunction with the __utmb cookie to determine new sessions/visits. |
__utmt | 10 minutes | Google Analytics sets this cookie to inhibit request rate. |
__utmz | 6 months | Google Analytics sets this cookie to store the traffic source or campaign by which the visitor reached the site. |
_gat | 1 minute | This cookie is installed by Google Universal Analytics to restrain request rate and thus limit the collection of data on high traffic sites. |
Cookie | Duration | Description |
---|---|---|
_ga | 2 years | The _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. |
_gid | 1 day | Installed by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously. |