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Reducing Water Damage Risk for Property Insurers, Tenants and Facility Managers

Non-weather-related water damage is one of the top causes of water damage to homes and buildings. These damages can be very expensive to property owners, tenants or insurance companies and can include mold, deterioration, and structural damage to a building if not detected early or prevented altogether.

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Reducing Water Damage Risk for Property Insurers, Tenants and Facility Managers

Non-weather-related water damage is one of the top causes of water damage to homes and buildings. These damages can be very expensive to property owners, tenants or insurance companies and can include mold, deterioration, and structural damage to a building if not detected early or prevented altogether.

Download

With Waylay Digital Twin business users would be able to experiment with potential new business opportunities, check the data at an early stage of product testing, before and during commissioning, without the involvement of our data lake experts.

‍On average, water damage costs around $24K per insurance claim. In 2020, nearly 2700 water damage claims were registered in North America alone, mostly as a result of bursting or leaking water pipes. But by deploying IoT sensors, monitoring for leaks, applying machine learning algorithms to predict failures, and recommending and reminding preventive maintenance will save thousands of dollars to the insured and insurers. Download this use case on preventing water damage to building structures to learn more.

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‍On average, water damage costs around $24K per insurance claim. In 2020, nearly 2700 water damage claims were registered in North America alone, mostly as a result of bursting or leaking water pipes. But by deploying IoT sensors, monitoring for leaks, applying machine learning algorithms to predict failures, and recommending and reminding preventive maintenance will save thousands of dollars to the insured and insurers. Download this use case on preventing water damage to building structures to learn more.

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