PolicyCastle, the digital insurance platform, today announces that it will offer UK customers, who have qualifying smart home devices installed in their homes, discounts on the cost of their home insurance premiums. This is the first time that discounts are being offered for home insurance customers who are already using smart devices in their home.
Edmund Dilger, Founder and CEO of PolicyCastle said: “We excited to be the first to offer this innovative discount to customers. Smart home devices have the opportunity to revolutionise the way we maintain and protect our homes and we are delighted to support customers who are using them.”
Discounts are available for new or existing PolicyCastle customers who have installed in their homes qualifying surveillance or leak detecting smart devices from a range of manufacturers including Hive, Nest and Samsung. The customer is required to provide proof that that the smart device is being used in their home by uploading a photo of the device, taken with the customer’s mobile phone. The geo-code on the photo is checked against the home’s location for verification, and stored securely in the customer’s online account with PolicyCastle. Customers who install qualifying smart home devices during the life of their policy can make a mid-term adjustment through their online account to benefit from the discount.
PolicyCastle will work with nCube, the smart home hub that allows users to control and monitor their whole home from anywhere in the world with one single app, to identify insurance cost savings through intelligent knowledge of the home; for example, occupancy information and the correct usage of smart home devices such as security sensors. The nCube platform relies on an opt-in mechanism so homeowners have direct control and awareness of how and where their data benefits them. This partnership will be the first of its kind when it launches later this year.
PolicyCastle will create the first database relating different smart home devices, perils and claims, and will work with insurers to provide tailored policies for customers based on the data. Currently PolicyCastle offers online customers home insurance from UK General.
Karen Beales, Chief Executive Officer, UK General said: “UK General is changing the world of personal lines insurance, so we are pleased to be working with PolicyCastle as they innovate in the specialist home insurance market.”
PolicyCastle will offer online customers home insurance from Prestige Underwriting from the end of this month. Chris Duck, Property Underwriting Manager at Prestige Underwriting said: “Prestige are delighted to be working with PolicyCastle. Their forward-thinking approach provides huge benefit to both customers and insurers alike. The positive way in which they are embracing smart home technology represents an exciting opportunity for us.”