CORRECTING and REPLACING Frontdoor, Inc. Expands Agreement With Moen to 7 Additional States
02 November 2024 - 12:57AM
Business Wire
First paragraph, first sentence of release should read:
Frontdoor, Inc. (NASDAQ: FTDR), the nation’s leading provider of
home warranties, today announced it is expanding its agreement with
Moen to install Moen Flo Smart Water Monitor and Shutoff, a water
shut-off valve, in seven new states for customers who purchase Flo
as part of certain marketing programs with home insurance
providers.
The updated release reads:
FRONTDOOR, INC. EXPANDS AGREEMENT WITH MOEN
TO 7 ADDITIONAL STATES
Frontdoor, Inc. (NASDAQ: FTDR), the nation’s leading provider of
home warranties, today announced it is expanding its agreement with
Moen to install Moen Flo Smart Water Monitor and Shutoff, a water
shut-off valve, in seven new states for customers who purchase Flo
as part of certain marketing programs with home insurance
providers. Leak detection and shut-off valves are now required by
selected insurance providers in certain states. The Moen Flo device
is designed to monitor water use, detect even small leaks, and will
automatically shut off water to the home if a catastrophic leak is
identified.
Under the new agreement, effective November 1, Frontdoor will
provide installations in Arizona, Utah, Idaho, Oregon, Texas,
Georgia and South Carolina. This is in addition to an agreement
signed earlier this year to perform installations in
California.
“We are delighted to expand our agreement with Moen beyond
California,” said Frontdoor, Inc. Chief Revenue Officer Kathy
Collins. “This is a great opportunity to leverage our network of
independent contractors and drive our on-demand revenue model.”
“The goal of this agreement is to reduce insurance claims
related to catastrophic water damage from residential leaks. The
Moen device offers a digitally driven and proactive approach to
leak detection, with the ability to help reduce water damage claim
frequency by as much as 96%*,” said Jeff Barnes, vice president of
business development for Moen Smart Water. “The expansion of our
relationship with Frontdoor allows us to bring a full Water
Protection Service, including Flo installation – to even more
homeowners.”
Under the new agreement, in addition to performing the
installations, Moen Flo customers will also receive a Frontdoor
Unlimited membership free for a full year. Frontdoor is an app for
all things home repair and maintenance. 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 contractors.
For more information on Moen’s Flo Shutoff, go to Moen.com/Flo.
For information on partnering with Moen, email
Partnerships@moen.com.
*Results from the 2020 LexisNexis Study can be found here.
About Frontdoor, Inc.
Frontdoor is reimagining how homeowners maintain and repair
their most valuable asset – their home. As the parent company of
two leading brands, we bring over 50 years of experience in
providing our members with comprehensive options to protect their
homes from costly and unexpected breakdowns through our extensive
network of pre-qualified professional contractors. American Home
Shield, the category leader in home service plans with
approximately two million members, gives homeowners budget
protection and convenience, covering up to 23 essential home
systems and appliances. Frontdoor is a cutting edge, one- stop app
for home repair and maintenance. The app empowers homeowners by
connecting them in real time through video chat with pre-qualified
experts to diagnose and solve their problems. The Frontdoor app
also offers homeowners a range of other benefits including DIY
tips, discounts and more. For more information about American Home
Shield and Frontdoor, please visit www.frontdoorhome.com.
About Moen
Moen is the #1 consumer faucet brand in North America, offering
a vast array of stylish and innovative kitchen and bath faucets,
showerheads, accessories, bath safety products, kitchen sinks,
garbage disposals, leak detection products and connected home
offerings for residential applications that give consumers more
power than ever before to understand and control the water that
flows through their homes. These thoughtful designs deliver an
exceptional user experience and elevate how people interact with
water daily. In addition, Moen® Commercial offers
superior-performing products that can deliver lower lifetime costs
for today’s facilities. Moen is part of Fortune Brands Innovations,
Inc. (NYSE: FBIN), a brand, innovation and channel leader focused
on exciting, supercharged categories in the home products, security
and commercial building markets. Moen anchors Water Innovations
(WINN), which also includes several brands under the House of Rohl®
including Perrin & Rowe®, ROHL®, Riobel®, Shaws® and Victoria +
Albert®. Fortune Brands’ other brands include Fiberon® composite
decking and railing products; Master Lock®, Yale® residential,
August® and Sentry® Safe security products; LARSON® storm doors and
Therma-Tru® entry door systems. For more information, please visit
www.FBIN.com.
Forward Looking Statements
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based on management's current
expectations and beliefs, as well as a number of assumptions
concerning future events. These statements are subject to risks,
uncertainties, assumptions and other important factors. Readers are
cautioned not to put undue reliance on such forward-looking
statements because actual results may vary materially from those
expressed or implied. The reports filed by Frontdoor pursuant to
United States securities laws contain discussions of these risks
and uncertainties. Frontdoor assumes no obligation to, and
expressly disclaims any obligation to, update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. Readers are advised to review
Frontdoor's filings with the United States Securities and Exchange
Commission (which are available on the SEC's EDGAR database at
www.sec.gov and via Frontdoor’s
website at investors.frontdoorhome.com).
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version on businesswire.com: https://www.businesswire.com/news/home/20241031656403/en/
Tom Collins 816.500.0336
Frontdoor (NASDAQ:FTDR)
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