Millions of American homeowners will benefit from
a unique collaboration to continuously predict and help mitigate
home risks with cost-effective smart home solutions
COLUMBUS, Ohio, Oct. 24,
2023 /PRNewswire/ -- Homeowners across the country
are increasingly adopting smart home devices with hopes of
protecting their homes and adding convenience. At the same time,
preventable homeowners' insurance claims, such as water damage from
leaky pipes, are becoming more frequent and costly1. To
address this issue, Nationwide, one of the country's largest home
insurers, and Resideo Technologies (NYSE: REZI), the global
provider of Honeywell Home smart thermostats and First
Alert® solutions that provide home comfort, life safety
and security to over 150 million homes, are partnering to reshape
the future of protection for homeowners.
By combining Nationwide's breadth of coverages and expertise
with Resideo's expansive smart home solution footprint and national
professional installation relationships, U.S. homeowners will be
able to leverage tech-enabled prevention capabilities to help avert
unexpected damage and associated expenses with their homes.
Homeowners that take advantage of the preferred device packages,
which will be announced in early 2024, may also be eligible for a
discount on their homeowners insurance through Nationwide, helping
to offset the cost of smart home solution purchases and
installation.
According to Nationwide's 2023 Agency Forward survey,
homeowners' leading reason for purchasing smart home products is to
reduce anxiety (44%). However, despite water and fire damage
serving as the highest non-weather related claims perils for
homeowners, more than 90% of those surveyed do not have smart water
leak sensors and almost 80% do not have monitored smoke or fire
hazard devices in their homes – a concerning protection gap.
"Smart home technology presents a tremendous opportunity to
elevate protection for our customers by transitioning from a
reactive approach to a proactive one, enabling us to predict and
prevent losses before they occur," said Beth Riczko, President of P&C Personal Lines
at Nationwide. "Nationwide is proud to be a leader in smart home
protection and to partner with Resideo, which has a broad and
innovative portfolio of smart home solutions, and a vast customer
base that can help us both accelerate learning and value creation
for our customers."
Dana Huth, Resideo's Chief
Revenue Officer agrees. "We are committed to protecting what
matters most and creating new forms of value for our customers.
Partnering with Nationwide, who has a similar focus and aligned
mission, will be an accelerant to meaningful savings of time,
effort and money for U.S. homeowners and residents," he said.
Leaders from both companies advise to watch for interesting
applications of insights, collaborations across their respective
ecosystem partners, and new experiences that lead to smarter, safer
home ownership.
1 2022 U.S. Home Trends Report, Lexis
Nexis
About Resideo
Resideo is a leading global manufacturer and developer of
technology-driven products and components that provide critical
comfort, energy management, and safety and security solutions to
over 150 million homes globally. Through our ADI Global
Distribution business, we are also a leading wholesale distributor
of low-voltage security and life safety products for commercial and
residential markets and serve a variety of adjacent product
categories including audio visual, data com, wire and cable, and
smart home solutions. For more information about Resideo, please
visit www.resideo.com.
About Nationwide
Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and
strongest diversified insurance and financial services
organizations in the United
States. Nationwide is rated A+ by both A.M. Best and
Standard & Poor's. An industry leader in driving
customer-focused innovation, Nationwide provides a full range of
insurance and financial services products including auto, business,
homeowners, farm and life insurance; public and private sector
retirement plans, annuities, mutual funds and ETFs; excess &
surplus, specialty and surety; and pet, motorcycle and boat
insurance. For more information, visit www.nationwide.com.
Follow the firm on Facebook and X.
Nationwide, Nationwide is on your side and the Nationwide N and
Eagle are service marks of Nationwide Mutual Insurance Company. ©
2023
Contact:
Graham
Shippy
(614) 249-0682
graham.shippy@nationwide.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/getting-smarter-nationwide-and-resideo-join-forces-to-fortify-and-help-protect-homes-301965947.html
SOURCE Nationwide