Property and Casualty Insurance Services

Claims Prevention: Leveraging IoT to Create Value for P&C Insurers

Rising inflation, geopolitical factors and supply chain challenges have significantly increased claims indemnity spend for the Property and Casualty (P&C) insurance sector. Consequently, underwriting profitability has been worsening, with combined operating ratios in the red across most lines of business. This has also emphasized the need for better claims risk management.

WNS, in partnership with Ondo InsurTech Plc, a leading provider of claims prevention technology for home insurers, offers an Internet of Things (IoT)-based solution that predicts and prevents water damage in homes.

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~51%Reduction in Claims Severity
~39%Decrease in Claims Frequency for
Water Damage
First-of-Its-Kind Loss Reduction Guarantee Package

What Makes This Claims Prevention Solution Unique?

Through this claims prevention solution, WNS and Ondo InsurTech Plc bring a first-of-its-kind loss reduction guarantee package for P&C industry. We have co-created a comprehensive solution that combines LeakBot - a patented IoT water claims mitigation solution, plumbing repair services and indemnity guarantee.

Claims Prevention Solution Infographic

Benefits for P&C Insurers

~51 percent reduction in claims severity, resulting in significant savings for insurers
~39 percent reduction in the frequency of water damage claims due to quick identification and mitigation of leaks
4.8 customer rating for LeakBot on Trustpilot, a review platform
Low cost of installation and management
Guaranteed indemnity savings delivered through the loss reduction guarantee package
Increased customer retention driven through value-added services
Verifiable ESG impact with reduced water loss and landfills