Leak Prevention Tech Taking A Big Leap Into Insurance

Water damage from pipe faults was the second-leading cause of homeowners’ insurance claims in 2016, according to the Insurance Information Institute -- and thanks to digital disruption of the industry, it’s also one of the easiest areas to begin to reduce that burden on carriers. That’s because there are often small signs that a problem is on the way, which can be detected easier than ever by rapidly advancing sensor technology. And so, many companies that make that kind of hardware are targeting the insurance sector as a way to demonstrate the value of their services.