American Family Insurance believes smart home products can help people better protect their home, and it's partnering with a U.K. startup to bring new devices to its U.S. customers.
Madison-based American Family recently announced that it has partnered with Neos, a startup that launched in 2016 that makes smart home insurance products, such as internet-connected smoke detectors and water sensors that detect pipe leaks.
The partnership will allow American Family to offer its customers a line of smart home products that can help identify problems before they become worse. American Family said it will begin offering devices in a pilot program starting later this year for customers in Arizona and Washington. American Family said the partnership is the first of its kind for a U.S. insurer.
Specific details of the partnership are still being worked out---such as how much the devices will cost and what specific products customers will have access to, according to American Family Strategic Partnership Leader Andy Kearns. But he said it will likely begin with cameras, smart smoke and fire detectors, and water sensors.
"We are going to have devices in homes to help people be more secure and be safer," he said. "Consumers really want to proactively protect their homes."
By offering smart home products, American Family looks to position itself as a one-stop-shop for customers who want to protect their home, from preventative measures like knowing when you have a water leak to filing a claim after an incident occurs.
American Family isn't new to the smart device space. It invested in Ring, a WiFi-connected doorbell company that was bought by Amazon for more than $1 billion. The two began an official partnership in 2015 where Ring promised to reimburse American Family customers' deductibles if their Ring-equipped home was burglarized.
The partnership with Neos, however, takes smart home protection one step further by identifying concerns in advance and connecting customers with home service professionals who can mitigate potential issues.
“Technology is the cornerstone in moving insurance companies away from being a payout industry to one that can help prevent claims," Matt Poll, CEO of Neos, said in a statement. "We’re pleased to help bring that to U.S. customers.”
