AXA XL, the property & casualty and specialty risk unit of AXA, has extended its alliance with US-based WINT Water Intelligence.
This collaboration aims to offer advanced solutions for water damage mitigation in the real estate sector by incorporating WINT’s AI-powered IoT technology into the AXA XL Ecosystem of curated technology solutions.
Go deeper with GlobalData
Water damage, often resulting from leaks, is a prevalent issue in the insurance industry, with more than 30% of builders’ risk payouts attributed to water escape incidents.
The companies aim to transform property and construction insurance dynamics by reducing water-related risks during construction and operational phases, potentially leading to a more stable insurance market.
WINT’s continued integration throughout a building’s life cycle is central to the extended partnership, offering protection from construction through to operation.
WINT and AXA XL’s tie-up also supports sustainability as their solution is said to contribute to water conservation and reduced carbon emissions.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe AXA XL Ecosystem provides clients with access to solutions such as WINT, which include real-time leak detection, auto shut-off capabilities and AI-driven analytics for water management.
The WINT platform is supported by multiple partnerships within the insurance industry, including with carriers such as HSB and Munich Re, brokers such as Howden and risk engineering companies.
Insurance carriers often offer financial incentives for WINT-protected facilities, such as lower deductibles and premiums.
Globally, WINT’s technology is employed by customers including the Empire State Building, HP, PepsiCo and Suffolk Construction.
AXA XL head of innovation for Americas Rose Hall said: “We are committed to managing and reducing risk for our clients, and WINT’s ability to scale from construction through the operational phase makes it uniquely suited to meet our goals.
“WINT has proven to be an essential partner in our ecosystem, and we are proud to continue and expand our collaboration to benefit general contractors and equip them with the innovative tools they need to meet the challenges of water risk.”
Last week, Ondo, another leak prevention insurtech company, expanded its presence in the US and announced the commencement of trials in the UK.
Ageas UK will introduce the Ondo IoT solution LeakBot to its customers in a 12-month trial, offering LeakBot detectors and repairs for free.
