Smart Device Reduces Insurance Rates

A South African developed energy-saving smart device that detects failure in electrical hot water systems before it happens reduces the premiums of home insurances.  This is due to the fact that homes equipped with this smart tool seldom have claims.  These devices thereby protect both home owners and insurers.

This article published in a South African Insurance website describes how the system works:

Locally-Manufactured Device Reduces Resultant Costs For Insurance Industry

A locally-manufactured smart energy platform that allows users to take advantage of direct savings by better monitoring and controlling their energy consumption in real-time also has the potential to cut costs for the insurance industry and its policy holders.
http://www.insurancegateway.co.za/ShorttermProfessionals/PressRoom/ViewPress/Irn=8221&URL=LocallyManufactured+Device+Reduces+Resultant+Costs+For+Insurance+Industry#.U3LZTfmSyAi

This is an example of how smart technology, combined with the internet, can provide benefits to both home owners and business who provide them services.  Additional benefits include systems that reduce risk by signalling the time for pro-active maintenance and under-performance from an efficiency standpoint.  Energy savings of up to 35% have been reported in residential applications and now the technology has sparked interest in business use as well.  Apart from savings for the energy consumer, this technology also reduces overall energy consumption and the “carbon footprint” of the community.

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Insights by: Jürgen Strauss

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Jürgen

Jürgen is the chief innovator and founder of Innovabiz who partner with innovative, exceptional business coaches to enable you to acquire more leads and more business by reaching your ideal target prospects with your message, so that you will achieve growth and be able to make a difference to more ideal clients. You can find Jürgen on LinkedIn, as well as on Innovabiz' Twitter, Facebook and Google+ Pages.

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