Pepper, a consumer IoT platform has combined with Notion, the InsurTech business unit from Comcast, to offer a new IoT and smart home platform.
The new solution will also offer insurance carriers customised, seamless and connected solutions.
By working together, they hope to help insurance carriers access the high growth markets and evolve from their legacy ‘repair and replace’ model and to a ‘protect and prevent’ approach.
Through paired next generation IoT and smart home technologies, carriers will be able to reduce the frequency and dollar amount of insurance claims filed by policy holders while home property and small business owners can save up to 20% on insurance by proactively monitoring for water leaks, fire, carbon monoxide, mold, open doors and windows, drastic temperature changes, and more.
Pepper enables businesses around the world to build, deliver and monetise secure connected devices and services to consumers through a sustainable revenue model.
Notion is an easy-to-use DIY smart property monitoring sensor system and app that enables home and small business owners to proactively monitor and reduce loss from costly property damages.
Alongside this deal, Comcast has made an investment into the new business.
Speaking on the development, Pepper CEO Scott Ford said, “We believe connected insurance tech is the next frontier of innovation in consumer IoT.
“Combining Notion’s leading smart property monitoring sensor system with Pepper’s full-featured platform and service offerings will provide insurance carriers a customized suite of connected solutions through a seamless white-label approach. This acquisition will allow us to leverage Notion’s leadership as an InsurTech solution supplier while expanding the offering to include popular smart home and security services.”
In other InsurTech news, Evertree Insurance, a personal lines agency, acquired Illinois-based Gnade Insurance Group for an undisclosed fee.
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