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Eddy Solutions Partners with Canadian Insurance Leader for IoT Leak Protection
Eddy Solutions Partners with Canadian Insurance Leader for IoT Leak Protection ...
About this update from Eddy Smart Home Solutions Ltd.
[{"type":"text","content":"\n \n \n \n Eddy Solutions Partners with Canadian Insurance Leader for IoT Leak Protection\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n April 4, 2022\n \n \n /CNW/ - One of\n \n Canada's\n \n leading insurance carriers has teamed up with Eddy Smart Home Solutions Ltd (\"Eddy Solutions\") (TSXV: EDY) to bring Eddy's award-winning technology across several provinces. This opportunity represents more than\n \n $1,000,000\n \n of revenue with a margin profile of approximately 40 percent.  The partnership was first to install Eddy's system in approximately 100 homes and is now being rolled out imminently to over 1,000 homes as part of a master service agreement.\n \n \n \n \n \n \n \n \n \n The partnership provides Eddy's leak mitigation technology, which includes equipment, software, 24/7 monitoring, myEddy App, and data. The system identifies and tracks water issues in real-time, paired with a remote and automatic shutoff that stops water at the source. Eddy's proactive approach to early detection of leaks and issues helps prevent insurance claims and the resulting substantial payouts, making it an attractive technology for insurance carriers and brokers.\n \n \n \"Over and over again, water continues to disrupt families, displace people, and destroy property, causing billions to the North American insurance industry due to claims,\" said\n \n Travis Allan\n \n , CEO and President of Eddy Solutions. \"This opportunity involves Eddy and the carrier directly, rather than the homeowner, whereby the insurance provider is purchasing Eddy's system and our recurring subscription service to further add value to their clients and mitigate their exposure to water-related risk. The progression of our partnership is not only a significant milestone that further validates the value that Eddy delivers but substantiates the use case for further adoption into their significant book of business in both residential and commercial asset classes.\"\n \n \n \n About Eddy\n \n \n Eddy Solutions is a North Amer...