Business
Frontdoor, Inc. Signs Exclusive Agreement With Moen
MEMPHIS, Tenn.--(BUSINESS WIRE)-- Frontdoor, Inc. (NASDAQ: FTDR), the nation’s leading provider of home warranties, today announced it has signed an
About this update from Frontdoor, Inc.
[{"type":"text","content":" MEMPHIS, Tenn.--(BUSINESS WIRE)--\nFrontdoor, Inc. (NASDAQ: FTDR), the nation’s leading provider of home warranties, today announced it has signed an exclusive agreement with Moen to install its Flo Smart Water Monitor and Shutoff, a water shut-off valve, for customers in California who purchase Flo as part of certain marketing programs with home insurance providers. Shut-off valves are now required by selected insurance providers in California and around the United States.\n\n\n“Moen is a top name in the industry and we are super excited to work with such a great brand,” said Frontdoor, Inc. Chief Revenue Officer Kathy Collins. “With our extensive network of independent plumbing contractors in California, this agreement gives Frontdoor a new channel of distribution with significant revenue opportunities in the most populous state. We look forward to exploring additional opportunities with Moen in other states.”\n\n\n“This program is designed to help reduce the number of insurance claims customers file related to catastrophic water damage because of residential leaks. Flo Smart Water Monitor and Shutoff devices offer a digitally driven and proactive approach to leak detection, with the ability to help reduce water damage claim frequency events by as much as 96%,” said Jeff Barnes, vice president of business development for Moen Smart Water.\n\n\nThe agreement became effective June 7. Once scheduling is fully underway, Collins anticipates Frontdoor will be performing thousands of installations per month.\n\n\nAdditionally, Moen Flo customers will receive a Frontdoor Unlimited membership free for a full year. Frontdoor is an app for all things home repair and maintenance. The Unlimited offering gives users unlimited video chats with Experts from a variety of specialties, access to local, vetted Pros, exclusive pricing on new name brand HVAC systems, and other benefits.\n\n\n“If the Flo Shutoff detects a leak, customers can quickly get help during normal business hours by video chatting with a Frontdoor plumbing Expert, or if in-person help is needed, they can schedule service through Frontdoor’s extensive network of independent plumbing contractors in California,” Collins said.\n\n\nFor more information on Moen’s Flo Shutoff, go to Moen.com/Flo. For information on partnering with Moen, email [email protected]\n\n\nAbout Front...