Phyn has announced a strategic partnership with Bamboo, a property and casualty insurance firm, as it looks to protect California homes from water-related damages.
This comes amidst the increasing challenges faced by California residents in securing dependable homeowners insurance.
This partnership is particularly significant in the current landscape where California’s insurance market is under strain, with many insurers withdrawing from the state.
As a result, homeowners face limited options and escalating costs. Through this alliance, Bamboo seeks to ensure that Californians have access to reliable and affordable homeowners insurance.
By integrating Phyn’s innovative solutions, Bamboo is not only enhancing protection against water damage but also empowering homeowners to conserve water and minimise waste.
Phyn’s advanced water monitoring technology plays a critical role in safeguarding a home’s plumbing system.
The Phyn Plus device, installed at a single location on the main water line, offers unmatched accuracy and reliability in leak detection.
It automatically shuts off the water when abnormally high flow is detected, preventing costly damage. Additionally, Phyn offers other smart water solutions, including the DIY Phyn Smart Water Assistant, which monitors water usage and detects leaks, and the Phyn Smart Water Sensor, which provides early detection alerts for potential water damage.
Through this partnership, Bamboo policyholders will receive a 10% discount on insurance premiums when they install Phyn Plus and a 15% discount on the entire Phyn product suite. These savings come at a crucial time for Californians, who are grappling with higher insurance premiums and fewer coverage options.
“With our roots in California, Phyn is proud to partner with Bamboo as they double down on their commitment to the state and continue to offer Californians quality insurance options while empowering them with the tools to protect their homes from unnecessary water damage and reduce water loss,” said Ryan Kim, CEO, Phyn.
“At Bamboo, we’re committed to continually innovating and finding solutions to ensure we deliver an insurance experience that puts our customers first, even in a high-risk environment,” added Brian Suzuki, Bamboo Insurance Chief Insurance Officer. “We’re excited to partner with Phyn to offer its cutting-edge smart water solutions, providing an option to our policyholders that protects their homes from water damage and conserves water, while continuing to be a solid option for Californians struggling to find reasonable coverage.”
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