geo and Magenta Insurance have won the Best Use of Technology Award, the most hotly contested category with 8 finalists, at the prestigious Broker Innovation Awards for the leak detection and prevention system – Waterlock™.

The awards, which took place in London, celebrated those who have fully embraced technology in order to meet the needs of their clients. The judges paid particular attention to brokers who have taken an innovative approach to insurance protection. The judges deemed Waterlock a technical innovation which provided a practical use case with real life benefits to consumers.

Waterlock, which was developed by geo to address escape of water claims for insurers, 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 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.” said Patrick Caiger-Smith, CEO at geo.

The award was announced less than a week after geo received 4.5* from Trusted Reviews, one of the largest technology review sites in the UK, which is a popular point of reference for consumers when making purchases.

geo and Magenta are also finalists in the Internet of Things Breakthrough category with Waterlock at the Tech and Innovations Awards on 26th September.

“We are very excited to have been recognised as finalists in these highly regarded awards, which celebrate innovation and the essential role of technology in the insurance sector.” said Patrick Caiger-Smith, CEO at geo.