Iceland’s TM Insurance Offers Policyholders Roost Home Telematics Solutions

The insurer will offer a free Roost Smart Water Leak and Freeze Detectors and a Roost Smart Battery—all co-branded to TM—to select new and existing policyholders.

(Reykjavík. Photo credit: Diego Delso.)

Iceland’s TM Insurance (Reykjavík) has undertaken a strategic agreement with Roost Home Telematics (Sunnyvale, Calif.) aimed at increasing member engagement as well as reducing claims costs. The insurer will offer a free Roost Smart Water Leak and Freeze Detectors and a Roost Smart Battery to select new and existing policyholders.

Kjartan Vilhjálmsson, VP, Private Lines and Marketing, TM Insurance Company.

TM Insurance will adopt the Roost platform and deploy Roost smart sensors to select policyholders to help them better mitigate the cost and inconvenience of fire and water leak related claims. In addition to the prevention benefits of the smart sensors, the insurer aims to strengthen engagement and communication with policyholders through Roost’s mobile app, which the vendor reports it recently enhanced with severe weather alerts.

“We are always looking for new ways to improve and strengthen ongoing communication with our policyholders,” comments Kjartan Vilhjálmsson, VP, Private Lines and Marketing, TM Insurance Company. “With Roost’s innovative sensors and platform we not only improve engagement but we bring great new technology to our customers that helps mitigate loss and deliver greater peace-of-mind.”

Sensors Delivered in Co-Branded Packaging

The vendor describes the Roost Smart 9V Battery as a simple retrofit solution that transforms existing smoke alarms into smart alarms. If the alarm sounds and no one is home, a smartphone notification is delivered. The Roost Smart Water Leak and Freeze Detector is designed to sense water leaks as well as humidity and freezing temperature situations. Easily locate in places around the home most prone to water leaks such as sinks, hot water heaters, toilets and various appliances. It then delivers smartphone alerts via the Roost app to help minimize water damage and loss. The Wi-Fi enabled smart sensors, which will be delivered in TM Insurance co-branded packaging, don’t require a hub and set up in less than five minutes.

“It is exciting to be working with TM Insurance, Iceland’s innovation leader, as we add to Roost’s rapid International expansion,” comments Roel Peeters, co-founder and CEO, Roost. “TM Insurance’s policyholders will now be able to take advantage of the leading Home Telematics solution, including free Roost smart sensors and our 24×7 notification platform. The result is a win for both companies, and most importantly the policyholders.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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