WINT Water Intelligence scoops gold at Insurance Times Award
The gold award for the Excellence in Technology – Claims category went to WINT's artificial-intelligence-powered solution, which lets insurers, facilities managers and construction and building services contractors reduce water damage risk and claims. WINT Water Intelligence, a leader in water management, analysis and leak prevention, picked up the award alongside their specialist U.K. partner Aqualytics, which provides on-the-ground customer service for WINT technology.
WINT's technology helps construction projects, existing buildings and estates and newly built facilities to avoid water damage-related claims by identifying anomalies, leaks and waste at the source, alerting facilities managers and shutting off water supplies when necessary.
The U.K. Society of Claims Professionals states in "Escape of Water - Good Practice Guide for Claims Professionals" (January 2019) that "escape of water" has become a common and significant issue. According to the Association of British Insurers, the total cost of escape of water claims has increased year on year by 28%, and insurers are paying out nearly $5.1 million per day on claims in the U.K. alone.
The Excellence in Technology – Claims category recognizes solutions that improve internal and external operational and administrative claims processes in the insurance market. The Judges, made up of some of the most respected leaders in the insurance market, were looking for tangible evidence that technology has improved operational efficiencies, claims processes, customer services, and business administration.
The judges described WINT as "a cool product – honest, clear and knows the market. We need something like this in our businesses."
WINT uses artificial intelligence and pattern matching to detect water leaks and waste. It continuously learns and adapts to a building's water network to ensure detection and prevention are optimized for each site. WINT devices are fully autonomous and will continue to operate even regardless of network coverage.
In addition to preventing water leak damage, WINT also detects and alerts staff of ongoing waste, from such sources as malfunctioning devices and unnoticed non-damaging leaks. Organizations that use WINT report savings of 20% to 25% of their ongoing water consumption, helping them reduce their environmental footprint and improve their sustainability stance.
"The insurance sector has been suffering a massive financial impact from the rise in water damage claims," said Alon Geva, CEO of WINT. "We're proud to be recognized by Insurance Times as a leader in helping the industry reduce this tremendous source of risk with innovation and smart technology."
WINT solutions are successfully deployed at thousands of locations worldwide. Reducing the risk of major property damage from burst pipes and undetected leaks has enabled organizations to avoid costly water damage, lost productivity, and increased insurance premiums while reducing their ongoing water consumption and environmental footprint.
About WINT Water Intelligence
WINT is passionate about helping the world conserve one of its most precious resources, and the company is dedicated to helping businesses prevent the hazards, costs and waste associated with water leaks. Utilizing the power of artificial intelligence, the convenience of high-speed cellular data connections and smart shut-off valves, Water Intelligence units provide an all-in-one solution for commercial facilities management teams looking to eliminate the fear of water-leak disasters and ongoing water waste. For more information, please visit www.wint.ai or email [email protected].
Aqualytics bring years of experience designing, leading, and evaluating initiatives that engage individuals, households, and employees in sustainable living, and that motivate pro-environmental change. Aqualytics focus purely on sustainable water use and efficiency. Aqualytics facilitate the dual approach of "behaviour change" harnessed with advanced disruptive technology to achieve the goals of meeting water and carbon footprint reduction targets. As Distributors of WINT in the UK, Aqualytics ensure excellent customer service enabling clients to monitor their water use in real time, empowering them to save water by introducing efficiencies and most importantly preventing and detecting escape of water and leaks offering ultimate 24/7 water protection to the client's property/workplace. For more information, please contact Harvey Djanogly at [email protected]
Notes to Editors:
Representatives from WINT Water Intelligence are available for media interviews and speaking opportunities.
For more information or to arrange an interview contact:
U.K.: Kirstie Colledge
SMPR (Simply Marcomms Limited)
The Wolston Priory, Priory Road, Wolston, Warwickshire CV8 3FX
Tel: 024 7590 1075
U.S.: Heather Ripley
View original content to download multimedia:http://www.prnewswire.com/news-releases/wint-water-intelligence-scoops-gold-at-insurance-times-awards-for-their-ai-powered-leak-prevention-technology-300993787.html
SOURCE WINT Water Intelligence