"Never before has an insurance company provided homeowners with the ability to actively protect their homes from the threats of water, fire and theft - all from their smartphone."
New 'smart' home insurance provider Neos launches nationwide today, following a £5m investment led by Aviva.
Neos promises to combine connected home technology, 24/7 monitoring and assistance plus the back up of comprehensive home insurance, all managed through an app.
The technology can detect and help prevent fire, intruders, and water leaks, with real time updates provided to a consumers' smartphone from connected cameras.
The firm is authorised by the FCA and is supported by strategic partnerships with Munich Re and Zoopla.
Neos can also generate an initial home insurance quote in under 60 seconds and promises customers a three-year price freeze on premiums.
Following the testing phase in 2016, this is the first time Neos has launched nationwide to consumers. Co-founder Matt Poll started the company in 2016 by combining his expertise in insurance, as former director of MoreThan, with the home automation knowledge of his co-founder, Krystian Zajac.
Matt Poll said: “I started Neos because I was frustrated with the limitations of traditional home insurance products. You only claim on your insurance policy if the worst happens, but not enough was being done to help people prevent bad things from happening in the first place.
“That’s why we’ve built a completely new type of product with prevention at its core. Never before has an insurance company provided homeowners with the ability to actively protect their homes from the threats of water, fire and theft - all from their smartphone. This is something that can benefit everyone, but is particularly powerful for those are often away from their home, or who live too remotely to monitor the properties of elderly relatives - it gives them the peace of mind that they can spot and rectify issues before they become major problems.
“We are pioneering this new way to protect your home and expect many insurers to follow our lead to focus on prevention instead of payout. With this approach, we want our customers to never make a claim again and, with fewer claims being made, pay less to protect their homes.”
Ben Luckett, Managing Director for Aviva Ventures, added: “Investments are all about talent, future, and disrupting the status quo. Our involvement in Neos reflects all of these three elements, surrounded by great technology delivering a great purpose. I am very excited about the opportunities that this investment presents and how we can move focus to making a real impact in people’s lives, from fixing to preventing the bad things happening.”