Moen Signs Strategic Agreement with Amica Insurance to Boost Usage of Leak Detection Technology
Smart Leak Detection From Moen Can Help Homeowners Avoid Expensive and Preventable Flooding
NORTH OLMSTED, Ohio–(BUSINESS WIRE)–Moen, the leader in water experiences in the home, today announced an initiative with Amica Insurance aimed to encourage policyholders to adopt Flo Smart Water Monitor and Shutoff devices through special savings and installation programs. Use of smart technology can significantly reduce the incidence of catastrophic water damage due to residential leaks. Flo Smart Water Monitor and Shutoff devices offer a digitally driven and proactive approach to leak detection. They have the ability to help reduce water damage claim frequency events by as much as 96%,1 as well as household water wasted through preventable leaks by up to 90%.2 Increasing the number of homes utilizing smart leak detection can help homeowners avoid the expense and disruption caused by preventable flooding.
“Water damage accounts for 24% of all homeowner insurance claims and can create financial and emotional hardships for homeowners.3 Nationally, we estimate that insurers pay out over $15 billion in water claim damages annually, of which a significant portion are tied to leaks4. By encouraging the use of Flo smart leak detection, Moen can help reduce water damage claims caused by water leaks and alleviate costs associated with those claims,” said Jeff Barnes, vice president, business development, Moen. “Working together with the insurance industry, we can also help to reduce wasted water, which is especially important in areas where water is scarce. Across the country, an estimated one trillion gallons of water are wasted due to leaks each year.5”
Moen will be working with Amica to provide Smart Water Monitor and Shutoff devices to policyholders across the United States.
“Amica has been a partner of Moen’s for five years, and we look forward to enhancing our water loss mitigation efforts together,” said Laurie Tremblay, Amica Senior Innovation Analyst. “Water leaks are one of the leading causes of preventable insurance claims each year, and with Moen’s innovative system, we can help homeowners better understand their water usage and help prevent water damage.”
The Moen® Flo Smart Water Monitor and Shutoff continuously monitors the pressure and flow rate of the water moving through a home’s pipes, detecting leaks as small as a drop per minute with Microleak™ Technology, anywhere in the home. If the device identifies an issue, it will promptly send an alert through the Moen Smart Water Network App, enabling users to turn off the water, or in the event of a catastrophic leak, it will automatically shut off the water to prevent major damage. Homeowners also can track water usage by fixture and set conservation goals within the app to further support water-saving efforts.
For additional information about the Moen Flo Smart Water Monitor and Shutoff, visit moen.com/flo. Organizations interested in leveraging the device can contact Partnerships@Moen.com.
1 Results from the 2020 LexisNexis Study can be found here
2 Based on average American annual water leaks of 10,000 gallons
3 Insurance Information Institute (III)
4 Non-Weather Water Claims
5 Environmental Protection Agency
ABOUT MOEN
Moen is the #1 consumer faucet brand in North America, offering a vast array of stylish and innovative kitchen and bath faucets, showerheads, accessories, bath safety products, kitchen sinks, garbage disposals, leak detection products and connected home offerings for residential applications that give consumers more power than ever before to understand and control the water that flows through their homes. These thoughtful designs deliver an exceptional user experience and elevate how people interact with water daily. In addition, Moen® Commercial offers superior-performing products that can deliver lower lifetime costs for today’s facilities.
Moen is part of Fortune Brands Innovations, Inc. (NYSE: FBIN), a brand, innovation and channel leader focused on exciting, supercharged categories in the home products, security and commercial building markets. Moen anchors Water Innovations (WINN), which also includes several brands under the House of Rohl® including Perrin & Rowe®, ROHL®, Riobel®, Shaws® and Victoria + Albert®. Fortune Brands’ other brands include Fiberon® composite decking and railing products; Master Lock®, Yale® residential, August® and Sentry® Safe security products; LARSON® storm doors and Therma-Tru® entry door systems. For more information, please visit www.FBIN.com.
ABOUT AMICA INSURANCE
Amica is the longest-standing mutual insurer of automobiles in the U.S. A direct writer, Amica also offers home, life, marine and umbrella insurance, as well as annuities.
Founded on the principles of outstanding service, Amica creates peace of mind and builds enduring relationships with its customers. That mission is shared and supported by thousands of employees across the country. For more information, visit Amica.com.
Contacts
MOEN CONTACT:
Samantha Eastman or Emily Baker
Falls & Co.
(216) 696-0229
seastman@fallsandco.com
ebaker@fallsandco.com
INVESTOR CONTACT:
Leigh Avsec
Fortune Brands Innovations, Inc.
(847) 484-4211
Investor.Questions@fbhs.com
