#USA #Water Damage #Moen #North Olmsted #Flo Monitor

Moen's New Initiative to Combat Water Damage

In a bold move aimed at transforming the insurance landscape related to water damage claims, Moen, a recognized leader in water experiences for home, has inaugurated an Insurance Partner Program. This initiative is designed to assist insurance agencies of all sizes—ranging from large carriers to smaller regional players—in mitigating the costly impact of water damage claims. Each year, water damage represents a significant risk for insurers, with estimates suggesting that over $15 billion is paid out in claims nationwide.

Understanding the Water Damage Challenge

Water damage stands as one of the most prominent reasons for insurance claims in the United States. Research indicates that over a ten-year span, approximately one in every six homes will experience a claim related to water damage, averaging around $12,500 per claim. The financial ramifications for insurance agencies are profound, underscoring the need for innovative solutions to prevent such occurrences.

Moen's response is the Flo Smart Water Monitor and Shutoff system—a proactive measure that not only helps homeowners protect their properties but also allows insurers to reduce their claim frequencies significantly. The device continuously monitors water pressure and flow rates, swiftly alerting users of potential leaks as small as a drop per minute. In the event of a serious leak, it can automatically shut off the water supply to minimize damage.

Benefits of the Insurance Partner Program

The new Insurance Partner Program presents an appealing proposition for insurance providers. Firstly, participation in this program is entirely free. Insurance agencies simply need to follow a straightforward process:

1. Sign up for a free informational webinar at www.Moen.com/FloInfoWebinar.
2. Complete the online application form.
3. Access a wealth of marketing and support materials provided by Moen.
4. Refer clients to a specific online form to facilitate their enrollment.

As part of the program, policyholders purchase the device and installation service (where applicable), while Moen handles the rest. The company assigns an account manager and provides regular quality assurance and informational sessions to ensure a seamless experience.

Jeff Barnes, Moen's vice president of business development, points out that the Flo Smart Water Monitor and Shutoff can lead to up to a 96% reduction in the frequency of water damage claims, making it an invaluable resource. For homeowners using this smart technology, they not only gain peace of mind against potential leaks but also contribute to overall water conservation efforts by tracking their water usage through the associated mobile app.

Conclusion

Through this innovative Insurance Partner Program, Moen is empowering insurance providers to take a proactive stance against a significant category of claims. By leveraging advanced technology, agencies can enhance their profitability and improve loss ratios while offering clients enhanced protection against unforeseen water damage. As the program unfolds, it is poised to redefine how insurance agencies manage water-related risks, and ultimately contribute to the financial stability of both insurers and homeowners alike.

For more information on the initiative or to sign up for the webinar, visit www.Moen.com/FloInfoWebinar.