Tuesday, February 26, 2019

Phyn Ties With Insurer For Smart Water Assistant

Los Angeles-based Phyn, which develops "smart home" technology to both monitor water usage and also help prevent major water damage, has inked a deal with an insurance company to offer up its technology to consumers. According to Phyn, it has linked with property and casualty insurer PURE Insurance, to offer up its Phyn Plus product as a discount to the insurance company's members. Size of the discount being provided to users was not announced. Phyn develops a device which installs at the main supply of a home, and uses artificial intelligence technology and sensors to determine exactly what is using water in a home. The company is backed by plumbing giant Uponor, and is a spinout of Belkin International. Phyn says that--due to the high cost of leak- and water-damage claims--many insurance providers are interested in its technology. PURE Insurance provides its insurance to high net worth individuals and families.

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